I have a listing that I’m quite surprised hasn’t as of yet sold. Indeed it needs cosmetic work such as cleaning, carpet, paint and possibly some kitchen and bathroom upgrades but the bones of the home are good.
The current owner has made numerous improvements on it in recent years. It offers newer thermal windows, permanent siding, newer roof, a 200 amp circuit panel, nearly new high efficiency furnace and central air, main floor laundry closet, and a high efficiency on demand water heater. What really puts this property far above the crowd is that it has an absolutely huge over-sized 3 car newer garage that is not only heated but has air conditioning. The yard is fully fenced and the location is only about 3 blocks from Hoover School. I have personally taken on projects far larger than this and they have turned out wonderful. I know there is always the fear factor with purchasing a home that needs work merely due to the unknown extra costs. When you consider the current updates, the square footage as well and the bonus garage, I can’t imagine someone going wrong with this home. Yes, there would be a lot of sweat and money to get it the way you would want, but you would be thousands of dollars ahead because you would have saved likely 15 – 20K if you had just gone out and purchased something already finished. There is one striking difference in the way buyers are now versus the way they were 25 years ago, and that is, they now would rather not purchase something that needs work. I find it a bit sad since I know for a fact that purchasing a home that needs updates and doing it yourself creates equity and equity creates a savings account of sorts. I have clients that I have worked with for many years who have created wonderful nest eggs by investing and re-investing in real estate. Fixer-uppers get too much negative hype these days. I see only opportunities waiting. Click on the link below to view this listing.