Thinking about a ‘Fixer Upper’? Understanding the Balance Between Purchase and Reno Costs

Thinking about a 'Fixer Upper'? Understanding the Balance Between Purchase and Reno CostsFixer uppers can come with huge price benefits and opportunity, as well as problems. Make sure you understand what you’re getting yourself into before you purchase a home that needs significant restoration.

Carefully Calculate

Do the math very carefully before jumping in. Add up the expected renovation costs based on a thorough evaluation of the property. As some of the expected costs will lie within a grey area, it is important that you base your estimation on the higher end of the price range. Be sure to account for all materials and labor.

Once you have calculated your expected renovation costs, subtract this number from the home’s projected post-renovation market value. It is important that you base this projection on comparable listings in the same neighborhood. Consulting a real estate professional can offer very valuable assistance with this step.

To be conservative, deduct at least another 10 percent for any unforeseen costs, mistakes, or issues that arise. That final number should be the highest offer you make on the property.

Work With The Right Team

When looking for a fixer upper that is a sound investment, make sure that you have a solid team of professionals to work with. Choose a real estate agent who is familiar with the area and type of property that you are interested in, and make sure that all laborers you hire are not only competent to deal with the problems that you’ll face during renos, but who won’t cut corners. Aesthetically appealing housing don’t always pass inspections – it’s important to make sure that the property is fit for sale or it may never close at your asking price.

Aesthetic Problems Are The Best Problems

If you’ve managed to find a home that’s in great condition but is visually unappealing, you may have found yourself an excellent fixer upper. Ugly carpet, old appliances, and tacky wallpaper are easy fixes that won’t eat up much of your budget or your time.

Asbestos, leaky water lines, a cracked foundation, or a rotted frame are examples of more significant issues that will require the help of a professional. Be wary when investing in a property that has one or several of these problems, as they are the kind of issues that snowball into larger costs and a longer timeline for repairs.

Ready to find a great fixer upper and tackle it as your next investment? Give me a call!  J.P. Cook – 602-320-4253.

Click Here to See What Your Home is Worth

3080 Aztec Road Overgaard, AZ 85933

$2,500,000
1 Bed
1 Bath
1,152 SqFt
Status Active
MLS # 6823654
Property Type Manufactured Home
Price Type --
Located along Highway 277 Just North of Highway 260. Heavily treed area and backs to National Forest. Living quarters on property see document tabs for additional information. Occupied. Barndomium living Large open storage on 2nd level for storage 1152 Sq.foot unfinished area. Property Overview: This unique 9-acre RV park in Heber-Overgaard, Arizona, offers an exceptional opportunity for investors or owner-operators seeking a thriving business in a stunning natural setting. Nestled along Highway 277 and backing directly onto the Apache-Sitgreaves National Forest, this park provides guests with immediate access to nature while offering all the comforts of a well-maintained RV facility. Key Features: 9 Acres of Usable Land: With ample room for additional development, the property provides tremendous growth potential for expanding services, adding more RV sites, or introducing new revenue streams such as cabins or glamping options. Spacious RV Sites: All RV spaces are generously sized, providing ample room for large rigs, slide-outs, and additional outdoor living space, ensuring guests have a comfortable and enjoyable stay. Barndominium On-Site: The property includes a 1,152 square-foot barndominium featuring one bedroom, one bathroom, a large walk-in pantry, and an additional 1,152 square feet of loft area. This versatile space can serve as an owner's residence or rental unit. Greenhouse Available: The property includes a greenhouse, offering opportunities for gardening, on-site food production, or additional guest experiences. Heavy Equipment Available: The property has regular access to heavy equipment, allowing for ongoing maintenance, improvements, and expansion projects with ease. Prime Location: High visibility and easy access from Highway 277, a well-traveled route for outdoor enthusiasts and tourists. Direct Forest Access: The park borders the national forest, offering direct entry to miles of hiking and nature trails. Proximity to Recreation: Only 20 minutes from popular fishing lakes and near Sunrise Park Resort, a top destination for skiing, snowboarding, and year-round outdoor activities. Established Infrastructure: The park features full-hookup RV sites with 30/50 amp service, well-maintained internal roads, reliable utility connections, restrooms, showers, and laundry facilities. These amenities provide guests with a comfortable and convenient experience, enhancing the park's appeal to long-term and seasonal visitors. Scenic Beauty: Surrounded by towering pines and fresh mountain air, this peaceful setting is a magnet for those seeking an escape from city life. The natural beauty and serene environment make it an ideal destination for outdoor lovers and adventurers. Business Opportunity: With a solid reputation and an established customer base, this RV park is primed for continued success. The growing demand for RV travel, outdoor experiences, and adventure destinations creates significant opportunities for business growth. The 9 acres provide flexibility for expansion, allowing for the addition of tiny home rentals, luxury glamping sites, or outdoor event spaces. The availability of heavy equipment and a greenhouse makes development and regular property improvements more efficient and versatile. Potential Income: The RV park has a potential monthly income of $52,000+, with additional opportunities for increasing revenue through expansion and added services. Expansion Ideas: Additional RV and tent sites Tiny home or cabin rentals Luxury glamping sites Event hosting or adventure services Convenience store or café Investment Potential: The combination of its 9-acre footprint, direct forest access, prime location, and available resources makes this property an outstanding investment. Its proximity to fishing lakes, Sunrise Park Resort, and year-round outdoor recreation ensures strong visitor demand and excellent potential for future growth and profitability. Don't Miss This Rare Opportunity! with VALUE ADDDED

11972 E Yearling Road Unit 20 Scottsdale, AZ 85255

$2,500,000
3 Beds
3.5 Baths
4,232 SqFt
Status Active
MLS # 6806041
Property Type Single Family Residence
Price Type --
Move-in Ready! The kitchen is the heart of the Desert Willow home design. Designed for effortless entertaining, the main living area features a soaring open-concept great room with 20' multi-slide pocket door opening to huge covered patio and a casual dining area, for seamless indoor-outdoor living. The well-appointed kitchen is complemented by an oversize center island, plenty of counter and cabinet space, generous walk-in pantry, and passthrough to the formal dining or flex room. Enhancing the magnificent primary bedroom suite are a relaxing sitting area, dual walk-in closets, and an expansive primary bath with large soaking tub, luxe shower with seat, walk-in linen storage. Versatile multi-generational suite with living area, closet, private bath, and private entry.

25572 N 119th Street Scottsdale, AZ 85255

$2,500,000
3 Beds
3.5 Baths
3,838 SqFt
Status Active
MLS # 6805523
Property Type Single Family Residence
Price Type --
The Mariola home design has dramatic ceilings up to 12' tall with 3 bedrooms, 3.5 bathrooms, a primary retreat, flex room and a 4 car garage. The dramatic interior courtyard welcomes great opportunity for indoor/outdoor living and the perfect ambiance to entertain family and friends. Two sets of large stacking doors off courtyard and great room, along with the dining room, welcome a light-filled home along with bringing views to the outdoor living from all angles inside the home. Close proximity to the McDowell Mountains for hiking and biking. Move-in Ready!

3511 E Orange Drive Phoenix, AZ 85018

$2,500,000
4 Beds
4 Baths
3,002 SqFt
Status Active Under Contract
MLS # 6817057
Property Type Single Family Residence
Price Type --
This beautiful modern home built in 2024 has a super chic, yet comfortable vibe. You're certain to be impressed by the outstanding curb appeal that leads to a home full of fresh finishes. The open floor plan houses a gorgeous island kitchen with sleek custom cabinetry, quartz countertops, Wolf and Subzero appliances, double ovens, and a butler's pantry with another refrigerator/freezer. Casually dine at the huge island or enjoy the adjacent more formal dining area, then retire to the spacious great room with an impressive decorative accent wall, and a retractable wall of glass leading to a fabulous outdoor living space. The private den has floor to ceiling glass doors that fill the room with natural sunlight, and all the ensuite bedrooms have gorgeous designer baths with unique... tile accents and high-end faucets and fixtures, including a very special primary retreat with his and her closets and a lovely bath with double sinks, an oversized shower and a free-standing soaking tub. The backyard is very serene with a great pool and spa, covered patio with a built-in barbecue and beverage fridge, artificial turf covered yard and mountain views. This fantastic residence sits in an excellent neighborhood and perfectly couples exceptional design elements with superb taste! taste!

21434 W Mountain Cove Place Buckeye, AZ 85396

$2,500,000
5 Beds
4.5 Baths
4,954 SqFt
Status Active
MLS # 6683231
Property Type Single Family Residence
Price Type --
Incredible single level custom home opportunity in Verrado. Buyer still has the opportunity to choose all interior finishes and exterior elevation design. Main house is 4,300 square feet and the attached guest quarters is 654 square feet, for a total of 4,954 square feet with a four car garage. Also includes a swimming pool, spa and outdoor kitchen. This home features a captivating great room floor plan and is situated on an expansive 1.145 acre lot. Providing the perfect canvas for your vision of luxury living. this remarkable residence promises an unparalleled level of customization and sophistication. Click on More for more information: Step into the heart of this home, and be greeted by a kitchen that is as functional as it is beautiful. The buyer has the freedom to select their desired stone for the island, countertops, and backsplash, creating a kitchen that reflects their personal style and taste. Every cabinet in this culinary haven is equipped with slow-close drawers and doors, embodying the seamless blend of convenience and refine craftsmanship. Viking appliances and a pot filler adds an elegant touch to the culinary experience, while the presence of a butler pantry with a separate food prep area allows for seamless organization and efficiency. With 42 upper cabinets and 30 lower cabinets, ample storage space is provided, ensuring a clutter-free environment. The 3cm countertop edge profile adds a luxurious finishing touch to this stunning kitchen. The elegance continues throughout the home with a choice of 12x24 or 24x36 tiles in all wet areas, creating a cohesive and visually pleasing aesthetic. The 8 baseboards and solid core doors add an extra layer of sophistication and durability. Every bathroom in this custom home features custom stone and tile showers, exuding opulence and sophistication. The master shower is equipped with dual body systems, ensuring a spa-like experience in the comfort of your own home. Satin nickel Moen fixtures add a sleek and modern touch throughout. For effortless entertaining, a wet bar area is thoughtfully incorporated, complete with a sink, refrigerator, and icemaker, ensuring that refreshments are always close at hand. Indulge in the opportunity to create your dream home with this exceptional custom residence. From the meticulously designed kitchen to the luxurious outdoor oasis, every detail has been carefully considered to provide the ultimate in comfort, style, and functionality. Embrace the chance to curate a space that reflects your unique vision and experience the epitome of elegance and refinement in this remarkable custom home. Step outside and discover an oasis of relaxation and entertainment. The outdoor space boasts a fully equipped kitchen with a grill, icemaker, and dual burner gas cooktop, offering the perfect setting for al fresco dining and culinary adventures. An outdoor wood-burning fireplace sets the stage for cozy gatherings on cool evenings. The centerpiece of the outdoor area is the stunning 25x50 swim-up beach pool with a separate spill-over hot tub, providing a luxurious retreat for relaxation and recreation.

3400 N 37th Street Phoenix, AZ 85018

$2,500,000
3 Beds
2 Baths
2,597 SqFt
Status Active
MLS # 6544798
Property Type Single Family Residence
Price Type --
LOCATION! LOCATION! LOCATION! 1.2 ACRES ZONED R3 MULTIFAMILY. Great lot in Arcadia Light.

55 Ranch House Circle Sedona, AZ 86336

$2,500,000
4 Beds
4 Baths
3,260 SqFt
Status Active
MLS # 6808720
Property Type Single Family Residence
Price Type --
Experience the Magic of this Truly Unique Oasis the moment you step through the decorative gates of ''Casa Arboles.'' With towering Oaks and Sycamores guarding the home, a true Getaway Retreat steeped in SW luxury with charming accents of Old World Mexico and a stone's throw to Oak Creek, No HOA/ Active STR (w/$219k in combined GI for 2023-2024) on .35 acre parcel. Main House features 3 BRs/3 BA and 1BR/1BA in the elevated Carriage House. Marvel at the Impressive and Inspiring design elements inside and out. Spectacular Atrium Entry with 20-ft ceiling greets you and immediately pulls your eyes to the magnificent vertical and horizontal wood beams. 16-inch Saltillo Tiles arranged in offset patterns create soften the senses. The L-shaped Great Room is perfect for entertaining with an open floor plan for intimate gatherings. High ceilings with unique angled indentations with an abundance of skylights and high windows capture the natural light. In the chilly winter months play a board game or curl up with a classic in front of the charming arched fireplace. Or gather in the adjacent Media Room with friends and watch a Holiday Classic Chef's kitchen boasts gorgeous tiled counters, stainless steel appliances including 5-burner gas cooktop, prep sink, double stacked ovens w/warming drawer, coffee station, and a massive pantry wall of birch cabinets with custom pullouts for spices and wares. Serve up your culinary creations at the elevated island bar or the nearby nook overlooking the golf course. Or dine on the patio and enjoy a framed view of Elephant Rock. Be delighted by the rows of Talavera bird tiles as you ascend to the grand Primary Suite featuring an office/game room area, Huge bedroom including luxurious textured carpet, canopy bed, 3-sided fireplace and sitting area. Bath has jetted tub, walk in shower with dual heads, separate dual vanities w/night light underneath the cabinets, a large balcony to enjoy morning coffee overlooking golf course, and one of the largest and beautifully appointed walk -in closets you will ever see, including washer and dryer closet! Across the Courtyard is the Magical Carriage House. Open, bright and intimate with many of the same quality design elements of the main house, you won't want to leave this Super Cute space. Great Room living with everything you need to enjoy a private and relaxing weekend getaway. This gem features a spacious ensuite bedroom with dual vanities, walk-in shower and stacked washer and dryer. Enjoy golf course views between the massive trees for inside or from the Adirondack chairs from the curved balcony. The exterior of Casa Arboles is as equally impressive as the interior. Meander around this spacious lush fully enclosed oasis and admire the towering trees, lush flora and stone art pieces and the vertical rain collector cups. Note the craftsmanship and detail of the curved stucco walls and stone columns connecting the decorative wrought iron gate and perimeter fencing,. Enjoy outdoor dining fireside underneath the impressive latilla constructed of massive lodge poles connected to the main house. Retreat to the trellis covered hot tub after a long day of hiking. A unique primary residence, weekend getaway or investment opportunity at a rare location that only a few will ever experience. This is a must-see property for the discerning buyer and certainly will not last long. Do not miss this opportunity!

8206 E Del Camino Drive Scottsdale, AZ 85258

$2,500,000 - 3Br/3Ba -  for Sale in Island At Mccormick Ranch, Scottsdale
New
$2,500,000
3 Beds
2.5 Baths
2,882 SqFt
Status Active
MLS # 6830511
Property Type Single Family Residence
Price Type --
Nestled in one of the most coveted sections of McCormick Ranch, this exquisitely renovated 3-bed + office home is the epitome of luxury and modern elegance. Every detail has been thoughtfully designed, from the imported Italian tile flooring and marble & quartz countertops to the designer lighting throughout. The open-concept living space is anchored by a stunning fireplace, while the chef's kitchen boasts Monogram appliances, a full-size wine fridge, and custom cabinetry. Bi-fold doors off the kitchen seamlessly blend indoor and outdoor living, leading to a large covered patio, sparkling pool, and lush turf backyard with an outdoor kitchen—perfect for year-round entertaining. A charming front patio enhances the home's inviting curb appeal. Just steps from Marguerite Lake, this prime location offers easy walking and biking access to Scottsdale's best restaurants, coffee shops, and entertainment.

27939 N 100th Place Scottsdale, AZ 85262

$2,500,000
4 Beds
3.5 Baths
4,450 SqFt
Status Active
MLS # 6790873
Property Type Single Family Residence
Price Type --
LaScala Tivoli model in Estancia sited adjacent to a large open space providing privacy * Old World-style with exterior architectural elements that include aggregate stucco, rusted steel, wood, glass and stone details * Interior finishes include quartz and European oak flooring, granite counters and alder wood cabinetry * Recently updated in a modern and minimalist feel with new light fixtures, paint, ceiling fans and window coverings * Recently expanded outdoor space with new decking, spa, fire pit and BBQ station * Open, great room floor plan with two primary suites and an office/media room plus a separate entrance guest house with 2 bedrooms and kitchenette * zero interior steps * Convenient location to walk to the Estancia clubhouse *

6237 N 5th Place Phoenix, AZ 85012

$2,500,000
5 Beds
5 Baths
5,022 SqFt
Status Active
MLS # 6806607
Property Type Single Family Residence
Price Type --
Experience luxury living at its finest with this rare, one-of-a-kind custom masterpiece located in the highly coveted North Central neighborhood within the prestigious Madison School District. If you're looking for luxury and location, your search is over! The stunning front exterior of this home makes an unforgettable first impression. Step through the captivating front entrance into the foyer with soaring ceilings, 20' floor to ceiling windows and elegant sweeping double staircase that greets you upon entering this masterpiece. Dazzling chandelier light fixtures and marble floors add the perfect touch of elegance and sophistication. Seven custom iron and glass doors throughout -including four singles and three double doors- create a seamless inside-outside feel in nearly every space. Each of the four expansive ensuite bedrooms features oversized walk-in custom closets custom-designed by California closets, including the 5th bedroom - which serves perfectly as a home office space. The lavish primary suite is a private retreat featuring dual vanities, a stunning soaking tub and custom walk-in shower. The gourmet kitchen is a chef's dream, boasting European custom cabinetry and state-of-the-art imported luxury Italian SMEG appliances. A fully equipped second kitchen/butler's pantry provides additional convenience and privacy for guests. Step outside to your personal oasis, where a sprawling covered patio overlooks a gas-heated pool and spa with dramatic water and fire features. A built-in outdoor grill area, encased in stacked stone, makes entertaining a breeze. The expansive upper deck offers panoramic views, creating the perfect setting to unwind and enjoy Arizona's breathtaking sunsets. Don't miss the opportunity to own this show-stopping residence that combines impeccable craftsmanship, timeless design, and an unbeatable location.

6701 N Scottsdale Road Unit 20 Scottsdale, AZ 85250

$2,500,000
4 Beds
4.5 Baths
3,466 SqFt
Status Active
MLS # 6787080
Property Type Townhouse
Price Type --
Not often will you find a property with the defining character as this home. European yet modern details masterfully and thoughtfully adorn this private treasure. Custom designed wood floors, hand crafted iron staircase(s), plank/beam ceilings, fireplace w/dramatic façade, main level bdrm suite w/custom built-ins. Cozy family & living room nestled near the private outdoor living area w/fireplace and BBQ. Gourmet kitchen w/finishes expected offers a french door access to a large side garden well suited for entertaining. Travel upstairs; 2 large bdrm suites both with inviting sitting areas, one with a fireplace. Charming 4th bdrm/bath with bright window seat. Cuernavaca at its finest with all of Scottsdale offerings of restaurants, shopping along with the soon to be open Ritz Carlton.

2211 E Camelback Road Unit 1202 Phoenix, AZ 85016

$2,500,000
3 Beds
3 Baths
3,000 SqFt
Status Active
MLS # 6806045
Property Type Apartment
Price Type --
Welcome home to your 12th level Penthouse personal sanctuary in the sky with stunning north facing mountain views. The building itself offers a wealth of amenities, including 24-hr Security, Valet, Clubroom, Fitness Center, and a breathtaking rooftop pool where you can enjoy panoramic city and views. 2211 is located in the high end BILTMORE area offering sophisticated design and practical living. This penthouse is a prestigious oasis boosting luxury and convenience that will have your family and friends envious of this extraordinary lifestyle!

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