Inspecting Fixer Uppers Set For Rehabbing

If there’s a phase of rehabbing that you must be vary careful in, it’s during the inspection stage. This is where you check the property and ask yourself, “Will I reap profits from this house after I repair and sell it?” Some rehabbers even hire professional inspectors because they do not want to make a mistake during this stage.

In time, you will learn how to determine the profitability of a fixer upper home. You will develop this skill after a few rehabs but for beginners, here are some tips you might find useful. Remember, it wouldn’t hurt to know more when it comes to rehabbing houses. You can more information about this at RehabList.com. Just go to the Learning Center section of Rehab List and click articles. On to the tips:

Always be on the lookout for certain damages. When you buy a fixer upper, it is given that it needs repair. That’s the main reason why it’s called a fixer upper and why it is undervalued in the first place. But there are damages you must look out for as they can spoil your chances of raking home earning profits. These are called “structural repairs,” or repairs that are major and very expensive.

An example of a major repair that can wash away your dreams of huge rehabbing profits is the roof. If you aren’t too good at examining a house’s crowning glory, make sure you hire a professional. Don’t be shy to ask about how old the roof has been in place. A roof normally stays okay for around 20 years, depending of course on the material used. For example, a roof made from shingles must not be patched more than thrice. If it has undergone more than three patch-overs, then be wary. You might have to replace the whole roof and that will cost you a fortune.

The soil toxicity in the surroundings of the home is another major problem. So as a precaution, get the house’s engineering report from local authorities. The report will also tell you whether the property has been contaminated by mold. Mold equals expensive treatment.

If you know what to avoid, then you must know what to look for as well. Look for fixer upper homes that need only cosmetic repairs. Rehab List defines these are minor repairs that can boost a property’s value. Landscaping the yard, applying a new coat of paint, and replacing old lighting fixtures are examples of cosmetic repairs.

Learn more about rehabbing at Rehab List. It’s also where you’ll meet veteran and seasoned rehabbers, sellers, and even money lenders. Rehab List is the meeting place of everybody involved in the real estate business.