By now, you’ve likely watched a reality show or two about buying a fixer upper home and the possibilities of making the property feel new again. However, there are many behind-the-scenes issues that go on with the process that doesn’t always make the cut for television. Buying a fixer upper home in Chetek WI can indeed be promising and exactly what you’re looking for, but keep in mind that a few problems can arise along the way!
As your real estate experts in the City of Lakes, we’ve included four tips below for buying a fixer upper home in Chetek WI:
Consider all costs
When looking at a home in need of work, it can be exciting to envision what it could be and glaze over what it will cost. Be sure you are considering all costs involved before you sign on the dotted line. These include the cost of purchase, the cost of rehab, the monthly maintenance of the home, taxes, insurance, and the equity position you may be in once the work has been finished. It is always wise to look ahead to the resale factor when purchasing a home!
Work with an inspector
After you’ve purchased a home in Northwestern Wisconsin, the last thing you want is to be caught off guard by major issues like a faulty roof or HVAC system. You will want to hire a home inspector to come look over the property, checking for structural problems and providing advice on what needs fixed now and what could stand to wait. Remember to ask about the age of running systems like electrical and plumbing and how much longer you have in their current lifetime. It is always wise to find an inspector who will work with your best interests in mind, not the seller, and you can consult your real estate agent if you need a local recommendation.
Get bids from contractors
Sure, real estate reality shows make it look easy to simply tear down a wall, but there is so much more consideration that goes into it than what is shown. You can certainly make your renovation plans for the Chetek WI home, but gather bids from several contractors before you decide to work with one. Do your homework, check references, and find a contractor you can trust. While the most cost-effective bid does make a difference, trustworthiness also plays a major part.
Look into tax incentives
Renovating your Chetek WI area home will likely boost the property value and thus, make you eligible for a tax credit in some cases. Check to see what tax incentives may be available in the area prior to making your renovation plans as it always helps to know your hard work will pay off!
Contact Six Lakes Realty today for a list of available homes in the Chetek area and next steps for buying a home this year! We look forward to hearing from you!
Six Lakes Realty
Office: (715) 924-4806