FixerUpper
Tips for a home renovation and refurbishment project
A
re you a handyman or woman inspired
by the cable television shows that por-
tray renovation and refurbishment
projects as simple, straightforward ex-
periences?
There are some common red
flags that may signal that you’re in
over your head.
Not only could these red-
flag issues reduce or eliminate the potential of getting a
bank loan, the repair could require more money and time
than you’re willing to invest.
Of course, if you are able to get a loan for the property,
you may be able to talk the buyer into a reduced deal price,
depending on how many issues you find. Take a notebook
with you as you walk through the home and write down
detailed notes on what will need to be repaired.
Do some research on your own to find out the esti-
mated costs of making the necessary repairs, and use the
information as bargaining power when going through the
offer process.
Subfloor issues
Open or severely damaged subfloors should be an imme-
diate red flag to any buyer. This type of disrepair poses poten-
tial health and safety issues for anyone living in the home.
Roof issues
Many resale homes can have aged roofs that may re-
quire immediate repair. Before making an offer on the
home, call a couple of roof contractors to get a quote on re-
pairs. Give them as much detail as possible on damaged
shingles, bowing plywood or potential leaking issues to get
an accurate quote.
Exposed wiring
This is obviously one of the most dangerous issues a
home could have, due to the potential for electrocution.
Bank appraisers or home inspectors will suggest the imme-
diate repair of such issues before a deal will be able to go
through.
Pest damage
Home-wide damage from termites or rodents can some-
times be hard to spot by the untrained eye. If it is apparent
upon your initial walk-through, you can figure that the issue
will definitely need to be rapidly repaired – both for the
health of buyer and the home’s structure.
12 | Property Lines: At Home edition 2015 | www.dailyastorian.com