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Buying fixer-uppers tips

Fixer-uppers are rundown houses with physical problems. If you are handy, you can add thousands of dollars by doing labor-intensive jobs such as painting, wallpapering and landscaping yourself. Find fixer-upper in the best neighborhood you can afford and one of the cheapest houses on the best block. Before buying fixer-upper carefully inspect it and get contractors bids for structural repairs and renovations. Make sure that the renovations will more than pay for themselves in increased property value.

However, if you are mechanically challenged, it is less frustrating and cheaper in the long run to earn money doing what you do best and then using some of that money to hire competent contractors to do what they can do best. If you are one of those people who can do quality work yourself, try your hand at it - just be realistic about the required costs and time.

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