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Wednesday, August 26, 2009 @ 1:29:00 PM - Written by Ryan Vaught

 August 26, 2009

Ambitious first time buyer?  Want a custom home but can't afford to buy new?  Not afraid of spending some cash and possibly getting your hands dirty and doing some work yourself?  Like the neighborhood and the price but not the condition?  If you answered yes to these questions then maybe you are a person that should consider the idea of buying a fixer-upper?

Sometimes referred to as "handyman specials" and sometimes referred to as "red flags", fixer-uppers can range.  They are usually homes with physical problems that may go further than "skin deep".  Some of the problems are more cosmetic, such as peeling paint, broken windows, unsightly carpet and more.  And some are hidden deeper and only found upon a whole house inspection and might include faulty electrical systems, a bad foundation, etc.

Many buyers want to go the safe, "known" route of buying a home that is in or near to move-in condition.  Fixer-uppers take a person with some real ambition and go-get-em personality that have time and cash or other financial resources (to pay for the repairs and fixes).  There is potential to be found in fixer-uppers but you must be careful to do your homework and get the help of professionals in order to make a sound decision about purchasing such a home.

Here are some tips for those brave enough to consider buying a fixer-upper:

  • Location, Location, Location! Make sure you find a house in a location you are content with.  If it's somewhere you plan on living consider the different aspects such as the neighborhood (are the other homes in good repair?) the noise level (freeways, trains, major roads) and also the area of town.  Also, consider location if you are planning on renting it.
  • Have a professional inspection.  Yes, they are pricey (usually at least $250 in California) but it is really a necessary step to have a professional come give you their expert opinion.  They might end up finding a fix that is way beyond your budget before you are obligated and in escrow.
  •  Get estimates on any repairs and renovations that will be required and make sure they will more than pay for themselves in increased property value.

Remember, in the end, the project will probably be more expensive and more time-consuming than you expected. Just make sure you know what you're getting yourself into- a BIG, possibly expensive and time-consuming project! But, if you end up getting a house you really love and is uniquely you in the end, then you will feel as though you have made a big accomplishment!

Check back later this week for more on what to know on fixer-uppers and a chance to be entered into a drawing!

Information obtained from:

Take a look at my market report for today!

Currently Ryan has about 30+ listings in inventory, and has sold 23 homes in 2009. Please don't hesitate to contact me with any questions about Chico area real estate.

Interested in learning more about the Chico area or Ryan?
Vaught Properties: Chico Income Property
Chico Condos: Chico Condo Sales
Ryan Vaught: Ryan's Residential website
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Ryan Vaught Real Estate
Keller Williams Chico CA
Office Phone: (530) 343-2959

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New Chico Listings, Chico, CA:

444 WEYMOUTH WAY, CHICO, CA $488,250.00
  Residential 4 Bedroom 3 Bath Built in 2004   0.24 Acres  2723 Sq. Ft.
  Stunning, breath taking and tranquil are the first words that come to mind when stepping through the front door of this truly elegant home. With 4 beds, 3 baths and 2723 sq. F...

More information on 444 weymouth way
41 & 45 GLENBROOK COURT, CHICO, CA $419,950.00
  Residential 5 Bedroom 4 Bath Built in 1983   1.56 Acres  2768 Sq. Ft.
  2 homes on one lot(1.56 acres) main house is 1885 sq ft. Separate living room and family rooms. Double sided fireplace, vaulted ceilings, brand new carpet, beautiful large bac...

More information on 41 & 45 glenbrook court
767 BRIDLEWOOD CT, CHICO, CA $399,000.00
  Residential 3 Bedroom 2.5 Bath Built in 1984   0.28 Acres  2355 Sq. Ft.
  This is an absolutely immaculate 3 bed 3 bath 2355 sq ft home on a wonderful cul de sac of custom homes and wide smooth streets. The house features a large kitchen with a gran...

More information on 767 bridlewood ct
32 ROSEANNA CT, CHICO, CA $365,000.00
  Residential 3 Bedroom 2 Bath Built in 1988   1.02 Acres  1672 Sq. Ft.
  Bring your horses home! Over an acre to rome! Includes 5 stall barn fenced horse area, extra parking. Large yard all in a country setting. Carpet in 2 of the bedrooms and mast...

More information on 32 roseanna ct
1249 YOSEMITE DR, Chico, CA $340,000.00
  Residential 4 Bedroom 2 Bath Built in 1994   0.24 Acres  1724 Sq. Ft.
  Pride of ownership! Lots of tile flooring. No pets have lived here. Kitchen opens to Family Room. Formal Living plus Family Room. Newer appliances. Decorator wood blinds.

More information on 1249 yosemite dr
1527 RIDGEBROOK WAY, Chico, CA $331,000.00
  Residential 3 Bedroom 2 Bath Built in 2002   0.16 Acres  1544 Sq. Ft.
  This adorable turn key home is in a very nice neighborhood & close to shopping & Bidwell Park. Amenities abound including cherry wood stained cabinets, tile floors, whole hous...

More information on 1527 ridgebrook way
1603 PLUMAS WAY, CHICO, CA $329,000.00
  Residential 3 Bedroom 2 Bath Built in 1959   0.33 Acres  1809 Sq. Ft.
  Fabulous!!! Large 3/2 w/ bonus (could be 4th bedroom). Huge corner lot w/ large front and back yard & new fencing. Breezeway into back yard w/ in ground pool & spa, bbq gas s...

More information on 1603 plumas way
842 MACY AVE, Chico, CA $299,500.00
  Residential 5 Bedroom 2 Bath Built in 1959   0.17 Acres  2046 Sq. Ft.
  Great location close to Bidwell Park, downtown and CSUC. Pride of ownership neighborhood. Brand new roof, new dual pane windows, recent paint inside and out. Tile kitchen a...

More information on 842 macy ave
1084 E 8TH STREET, CHICO, CA $219,000.00
  Residential 2 Bedroom 1 Bath Built in 1942   1155 Sq. Ft.
  Long term rental history. Front house 2 bed, 1 bath, back studio with alley access. New lawn sprinklers, lots of shade and new fencing.

More information on 1084 E 8th Street
1085 EATON RD, Chico, CA $205,000.00
  Residential 3 Bedroom 1 Bath Built in 1962   0.26 Acres  1239 Sq. Ft.
  sq ft, lot size & year built from county records, buyer to verify. Great home with huge back yard! If you're looking for a solid built home with loads of potential this is i...

More information on 1085 eaton rd

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