Tag Archives: reputable contractors; fixer-upper; contractors; do-it-yourself; investment property; home renovation project

Before Taking on a Fixer-Upper Right Now Consider These Current Issues

04 Monday Jan 2021

Posted by in #DIY, #HanleyHomeTeam, #HomeBuyer, #HomeBuyingTips, #HomeOwner, #HomeSeller, #housegoals, #househunting, #Jacksonville, #JacksonvilleFL, #KellerWilliams, #Movingday, #RealEstate

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With the inventory of homes so low, some buyers are binge-watching HGTV and beginning to consider buying a fixer-upper. Fixing up a property can be a fun, fulfilling experience for many homeowners. But fixer-uppers can be challenging in the best of times—and with some of the challenges in today’s market, this doesn’t exactly qualify as “the best of times.”

A recent article from realtor.com outlined some of the reasons why now might not be the best time to buy a fixer-upper property, including:

  • Material costs are high… The pandemic has created a high demand for home renovations, which has sent the prices for materials through the roof, doubling—or even tripling—in many cases. So, the renovations that you need to make on a fixer-upper property? They’re likely to cost significantly more than they would have at this time last year.
  • …and crews are busy. The demand for home renovations also has many contractors booked out for months—which means that, if you buy a fixer-upper, you could have to wait a significant period of time to start tackling projects.
  • There’s a higher risk for issues. Any property could have issues you don’t notice on your initial viewing—but the risk of safety, environmental, or inspection-related issues is much higher for older homes that need a lot of work.

The Takeaway:

Bottom line? There are definite challenges associated with buying a fixer-upper in today’s real estate market—and buying a new construction or a newer home with fewer necessary repairs is probably going to be a safer bet. But if you’re set on making a fixer-upper purchase? Talk to your real estate agent (us!) as we can help you better understand the challenges associated with buying a fixer upper—and help you get a plan in place for navigating those challenges. Kevin and Jennifer Hanley, REALTORS http://www.HanleyHomeTeam.com The Hanley Home Team of Keller Williams Realty Atlantic Partners Southside

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Choosing a Reputable Contractor

18 Tuesday Jun 2013

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With the number of foreclosed or bank-owned properties floating around out there, we often speak with folks who are preparing to embark on a renovation project.

Unfortunately, with a rise in remodeling comes a flood of disreputable contractors looking to cash in. We do our best to protect people by providing referrals to reputable contractors, but there are plenty of people out there we don’t get a chance to talk to.

If you know someone who is about to undertake a major renovation project, we urge you to share this excellent article published by the Federal Trade Commission, “Home Sweet Home Improvement.” It includes a PDF guide your friends and family will find helpful.

The guide covers:

• The types of home improvement specialists
• How disreputable contractors operate
• Questions to ask contractors
• How to check references
• Understanding payment options
• The “Home Improvement” loan scam
• …and several other useful points

Here’s the link to the article on the FTC website:
http://www.ftc.gov/bcp/edu/pubs/consumer/products/pro20.shtm

Also, you can download the PDF file directly here:

Click to access pro20.pdf

Do you need a referral to a contractor or two? Are you in the market for a property to fix-up and call your own (or use as an investment property)? We’d be happy to help. Give us a call or shoot us a message today: Kevin and Jennifer Hanley, REALTORS 904-422-7626 or Kevin@HanleyHomeTeam.com – http://www.HanleyHomeTeam.com