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

28415 N 59th Way Cave Creek, AZ 85331

$2,049,995
5 Beds
4.5 Baths
4,030 SqFt
Status Active
MLS # 6642004
Property Type Single Family Residence
Price Type --
Move-In Ready! Featuring a desirable open-concept floor plan, the McDowell is the ideal setting to complement every lifestyle. The spacious foyer opens immediately onto the expansive great room with alluring views of the rear covered patio. The pristine kitchen overlooks a bright casual dining area and is highlighted by a large center island with breakfast bar, wraparound counter and cabinet space, and an ample walk-in pantry. The splendid primary bedroom suite showcases a generous walk-in closet and serene primary bath that features dual vanities, a luxurious shower with seat, large soaking tub, and private water closet. Conveniently located off a sizable flex room, secondary bedrooms offer walk-in closets and private baths. A roomy office can be found off the great room.

28409 N 59th Way Cave Creek, AZ 85331

$2,028,995
4 Beds
4.5 Baths
4,315 SqFt
Status Active
MLS # 6642015
Property Type Single Family Residence
Price Type --
To Be Complete Summer 2024: Lovely foyer flowing past the elegant dining room into the expansive great room and casual dining area that presents alluring views of the desirable covered patio. A large center island with breakfast bar enhances the expertly crafted kitchen that offers plenty of counter and cabinet space, a generous walk-in pantry, and passthrough to the dining room. Featuring a relaxing sitting area and expansive walk-in closet, the palatial primary bedroom suite is highlighted by a spa-like primary bath complete with dual vanities, large soaking tub, deluxe shower with seat, walk-in linen storage, and private water closet. Central to a versatile flex room with covered patio access, secondary bedrooms feature sizable closets and a shared bath.

4588 S Avenida Corazon De Oro -- Gold Canyon, AZ 85118

$2,025,000
3 Beds
3.5 Baths
3,693 SqFt
Status Active
MLS # 6767061
Property Type Single Family Residence
Price Type --
LOCATION, LOCATION! VIEWS, VIEWS! This home lives as if new! Incredible nearly 100% remodel in an unmatched location overlooking the signature hole 5th green of the famous Dinosaur Mountain golf course w/unobstructed views of the magnificent Superstition Mountains in the gated community of Vista Del Corazon in Gold Canyon. Quietness & privacy prevail. 35 miles to Sky Harbor as only one traffic light separates you from the Atlantic & Pacific Oceans. Virtually every surface was upgraded including floors, cabinets, baths, kitchen, appliances, new HVAC's, new paint inside & out. 17' doomed ceilings, wood beams, stone columns & cantera accents t/o. 10.5' glass doors on the main Superstition Mountain view, 4 rooms w/fireplaces, 11'/12'+ ceilings. Formal dining, office, all bedrooms ensuite. Coveted north/south orientation. Oversized 3 car garage. High ceilings with clerestory windows bringing welcomed natural light. Exquisitely redecorated from floor to ceiling in 2023-2024 in today's timeless modern style with nothing left to chance and no stone left unturned. 10.5' motorized electric doors bring the Superstition Mountain range into this home. Leathered granite & quartz countertops. All new stainless GE Monogram appliances including 6 gas burner stove with the 'simmer ' feature. Eat-in kitchen and breakfast bar. Attractive 'leathered granite' kitchen island and on bar countertop, quartz counters elsewhere throughout. Separate full bar. Insta-hot and also filtered water at sink. Convection wall oven and duo steam cleaning microwave/oven. Walk-in pantry. Coffee bar. All bedrooms ensuite with walk-in closets. Two-way gas fireplace between Primary bedroom and office. Stone wall accents, plantation shutters, lighted stone lined art niches, all new recessed LED canned lighting. 32 Cantera columns throughout, inside and out. Two new Trane high efficiency HVAC's: one 4-ton 17 seer 2 stage and one 5-ton 16 seer 2 stage HVAC units under manufacturer's warranty. Plumbed for central vacuum. Cantera stone surround on fireplace. Primary bedroom has his and hers closets, private water closet, oversized shower and freestanding modern soaking tub. Surround sound throughout. 8' solid core doors with Emtec hardware. Five security cameras and a Ring doorbell. Remote control darkening blinds in living/theatre room. Oversized 3-car garage--42' wide by 26'6 deep with 3' spacing between bays. Shortest bay 22'10 and longest 26'6. Epoxy floor with a craftsman's dream workshop and plenty of storage. Adjacent to garage is an air-conditioned bonus/media/man cave/golf/hobby room 14' x 10.5' with sink nearby and also can be just storage--heated and cooled by a mini-split. EV 220 volt charging station in garage. Heated pool and spa. Separate free standing spa is available. Two outdoor seating areas with never ending magnificent views including 2 fire pits and an attractive stone fireplace. Roof level upper view deck. New Coyote 42 gas BBQ 2024.

6107 N 175th Avenue Waddell, AZ 85355

$2,007,880
4 Beds
3.5 Baths
3,729 SqFt
Status Active
MLS # 6753671
Property Type Single Family Residence
Price Type --
Welcome to a masterpiece of contemporary design This exceptional luxury modern farmhouse on 1 acre offers a harmonious blend of sophistication, comfort, and natural beauty, promising a lifestyle of unparalleled elegance and tranquility. The main house of 3729 livable square feet holds 4 bedrooms, 3.5 bathrooms , a Casita with 2 bedroom 1 full bath and a Loft with 1 bedroom, 1 bathroom. Totaling 5,934 sqft aproximately livable area Construction made with ICFs (Insulated Concrete Forms), 10'' flat ceiling throughout. The open-concept floor plan flows seamlessly from elegant entryway to the spacious Kitchen and family room with natural light. The gourmet kitchen is a chef's dream, sleek quartz countertops, and custom cabinetry that effortlessly blend modern convenience with farmhouse charm Entertain guests in style in the elegant dining area or gather around the cozy fireplace in the adjacent living room for intimate gatherings and lively conversations. Retreat to the lavish master suite, where luxury abounds with a spa-like en-suite bathroom, shower, walk-in closets. Additional bedrooms, guest house, and versatile living spaces provide ample room for guests, while a dedicated home office offers a serene environment for remote work or creative pursuits. Outside, the grounds invite you with endless opportunities for relaxation and recreation day and night. Lounge by the sparkling pool, take in the peaceful sounds of the pool waterfalls, dine al fresco under the extended covered patio, From the patio go upstairs to the balcony to the soaking in the beauty of the starlit sky. Don't be afraid to walk barefoot all summer long because these travertine title never get hot. Plenty of room in the 4 tandem car garage and RV Garage Conveniently located just minutes from Glendale Westgate world-class dining, shopping, and entertainment options, this modern farmhouse oasis offers the perfect balance of privacy and proximity to city amenities. Explore nearby hiking trails, golf courses, and cultural attractions, or simply unwind in the serenity of your own private desert retreat. Experience the epitome of luxury desert living in this exceptional modern farmhouse, where every detail has been carefully curated to elevate your lifestyle and exceed your expectations. Welcome home to your ultimate Waddell sanctuary. Across from the pool, the guest house of 1,005 livable square feet contains a full kitchen, living room, 2 bedrooms, 1 bathroom, and laundry room. The loft is under 1200 sqft and also has 1 bedroom, 1 bathroom, a kitchen, a laundry area with washer and dryer hook-up.

4810 N 43rd Street Phoenix, AZ 85018

$2,000,000
4 Beds
4 Baths
2,834 SqFt
Status Active
MLS # 6762643
Property Type Single Family Residence
Price Type --
VOTED BEST HOUSE ON REALTOR TOUR! In all my years in R.E., I have never seen a more meticulous, thought out, quality, over the top remodel. The final city building inspector declared it a new construction! Top of the line everything. As of 2020, new plumbing, new electrical including the panel, new roof, new AC including duct work, new flooring, new kitchen, owned solar in 2022, hardwired security and internet, reverse osmosis and soft water loop, low voltage recessed lighting, misting system with additional exterior gas stubs for firepits or exterior heaters, low E triple paned windows with auto retractable blinds, Thermador duel fuel gas stove top with electric range, LG Inverter lineage fridge. Dual head shower in primary bath. Storage building is wired and AC. House is clan with Hardie board concrete siding. See document tab for details. Two safes, work out equipment, W&D, BBQ, and additional range/oven available. Super insulated attic and walls (see documents tab in addition to the owners explanation of other details. List price is the 3/24 Appraised value. VOTED BEST ON TOUR AT THE RECENT BROKERS TOUR!!

8335 N Vista Lane Prescott, AZ 86305

$2,000,000
5 Beds
5 Baths
4,891 SqFt
Status Active
MLS # 6730398
Property Type Single Family Residence
Price Type --
Contemporary home nestled at the base of Granite Mt. in Williamson Valley on 4.75 acres. Enter this passive solar home through extensive rose gardens surrounding an 1100 sf patio framing views of Granite Mt. Upon entering the home designed by a student of Paolo Soleri experience the of Pella Solariums to bring the views indoors. Views of the San Francisco Peaks are captured from the rear covered patio connecting the main house to the guest wing. The main house is 3,681 sq ft. featuring an open floor plan consisting of soaring 20-foot wood vaulted ceilings & clerestory windows in the kitchen, bar & great room. The Chefs kitchen features Wolf & Sub Zero appliances, custom cabinets. See document tab for more details.

31527 N 174th Street Rio Verde, AZ 85263

$2,000,000
5 Beds
4 Baths
4,102 SqFt
Status Active
MLS # 6764599
Property Type Single Family Residence
Price Type --
Discover total privacy on 3 acres in the heart of the AZ desert. This luxurious home blends elegance with a rural lifestyle, featuring lavish decor & comfortable spaces. Enjoy unobstructed mountain views through expansive picture windows. The chef's kitchen boasts stunning metallic granite countertops, a Viking stove, & custom cherry cabinets. It includes double ovens, a wine chiller, & a cozy eat-in area that seamlessly connects to the great room. Impress your guests with an outdoor BBQ & relax next to the beautiful pool. The large patio offers a serene space to unwind & soak in the tranquility of the desert. In the evenings, retreat to the upper deck for views not found anywhere else. Bring your horses & your toys to enjoy miles of trails right, in your backyard.

12067 N 135th Way Scottsdale, AZ 85259

$2,000,000
4 Beds
4 Baths
4,459 SqFt
Status Active
MLS # 6764085
Property Type Single Family Residence
Price Type --
Nestled in the intimate gated community of Villa Montavo in North Scottsdale, this meticulously upgraded home offers unobstructed McDowell Mountain views, private courtyard entry, stone exterior accents, an oversized 3-car garage with excess storage & more! The open-concept, split floor plan is enhanced with multiple fireplaces, soaring ceilings, 4 large bedrooms with walk-in closets, an office with double-door entry, & abundant natural light. The newly renovated chef's kitchen is equipped with brand-new stainless steel appliances, waterfall Taj Mahal granite countertops, custom crown-molded cabinetry, breakfast nook & open concept entertaining. The split primary suite offers utmost privacy, a large sitting area, fireplace & exterior patio access. Step outside to a beautifully designed -- outdoor living area, complete with an expansive covered patio, outdoor kitchen, heated pool + spa, & access to your finished view deck with endless views of the McDowell Mountains. Located minutes from world renowned hiking trails, award winning schools, fine dining, Mayo Clinic & only 20 minutes to Sky Harbor Airport - this property won't disappoint!

25555 N Wrangler Road Scottsdale, AZ 85255

$2,000,000
3 Beds
2.5 Baths
4,177 SqFt
Status Active
MLS # 6779652
Property Type Single Family Residence
Price Type --
Step into this award-winning custom Territorial-style home, where every detail reflects unparalleled artistry and craftsmanship. Nestled in a serene setting, this residence offers an exceptional blend of luxury and comfort, designed for both relaxation and entertainment. Upon entering, you'll be greeted by a beautifully tiled entryway and stunning wood plank flooring that flows throughout the main living spaces. The living room features a cozy gas fireplace and built-in shelving, creating an inviting atmosphere for family gatherings. The separate sitting room, adorned with pendant lighting, leads seamlessly to the lush backyard, perfect for outdoor entertaining. The chef's kitchen is a culinary dream, boasting Thermador appliances, including a six-burner gas stove and dual ovens with a warming drawer. The sleek granite countertops and soft-close cabinetry ensure both functionality and style, while the large walk-in pantry provides ample storage. The formal dining room, which doubles as a game room, has been enhanced with a wine area complete with a sink, ideal for hosting dinner parties. Retreat to the master suite, where comfort meets elegance. Enjoy the warmth of your private gas fireplace and direct access to the backyard. The master bath features a spa-like ambiance with a two-person jacuzzi tub and a luxurious shower complete with a bidet. The master closet has been completely overhauled with custom cabinets and a secure safe for your valuables. Guest accommodations are equally impressive, with custom built-in cabinets in the closet and easy access to beautifully redone bathrooms featuring tile flooring and walls. The outdoor space is an entertainer's paradise, featuring a built-in gas grill, an outdoor shower, and a stone sitting area framed by landscape lighting that highlights the home's exterior. The paver driveway adds to the home's curb appeal, while a separate irrigation and drip system ensures that your garden remains lush and vibrant. This home is equipped with modern conveniences, including a central vacuum system, updated outlets and switches, and new LED lighting throughout. Each room features updated ceiling fans for optimal comfort. Enjoy the built-in surround sound system, perfect for movie nights or entertaining guests. The garage is a true standout, featuring high-end cabinets, a workbench, and a stunning $4,000 epoxy floor with swirling designs. The new garage door operates quietly, enhancing the home's peaceful ambiance.

19915 E Sonoqui Boulevard Queen Creek, AZ 85142

$2,000,000
5 Beds
4.5 Baths
4,406 SqFt
Status Active
MLS # 6782213
Property Type Single Family Residence
Price Type --
Gorgeous Circle G equestrian estate, this home is the definition of luxury. 5 bedrooms with walk in closets, 3 full bathrooms, 2 additional half bat & theater / media room. Stunning facade w/stone accents, paver driveway in addition to paver circular driveway allows for multiple parking options. 4 car garage & RV gate. Magnificent Iron front door allows for glass to be opened to enjoy the cooler season's fresh air, cantera stone columns inside and out. Regal turret style entry with ceiling medallion and mosaic tile inlay. Chef worthy kitchen features elegant alder wood cabinets, wine bar or additional prep area, beautiful granite counter tops & island/ breakfast bar, tile backsplash, pendant lighting, Stainless steel KitchenAid appliances including gas griddle & convection microwave. So much space in the walk in pantry! Central vac system, R/O & water softener Amazing panoramic views of the pool and horse set up from seamless windows in living room and dining area. 2 charming fireplaces inside, + 1 more outside! 8 ft alder doors throughout add to that decadent feel. Accordion glass panel doors allows the inside and outside to blend when open. Private office/ study has it's own access to an outside paver french patio. The upstairs primary suite is a true retreat with french door access to the outside balcony, a very spacious walk in closet with washer & dryer/laundry set up, & fireplace. The luxurious en suite showcases a walk in his and hers steam shower, and dual vanities & sinks. The entertainer's dream backyard includes travertine pool deck in addition to pavers under enormous covered patio, a cozy outdoor fireplace, sparkling oversized saltwater pool w/multiple water features built in 2021 with Pentair pool equipment controlled easily by Screenlogic app. 3.5 ft to 9ft deep with benches and baja shelf.One variable speed pump and an additional pump for the 4 corner water feature. Poolside shower is just one more of the endless features here. New Whole house hot water circulation pump. 3 horse stalls with shade/fan/water, a round pen, 2 grazing pastures, 4 horse water valves, flood irrigation & sprinkler irrigation, 8x40 container /horse tack shed, 8x10 shed, 5x8 shed, 5x8 3 sided hay storage shed. This home is one of the few to have direct access the the bridle path via private gate! Just 1 mile to Horseshoe Park ( park has an outdoor arena and round pen, FREE to QC residents 7 days a week. Access the nearby Sonoqui walking/biking/riding trail for a short ride to nearby Creekside restaurant, hitching post already waiting for you there! Sub panel in garage with 220 v is so useful for the DIYer auto enthusiasts, woodworker, welder to power heavy equipment, and off south side of house, buyer can complete hook up process of additional sub panel. Water heater new in 2024. A/c condensers & motors 2019.

27921 N Agua Verde Drive Rio Verde, AZ 85263

$2,000,000
3 Beds
3 Baths
3,857 SqFt
Status Active
MLS # 6781968
Property Type Single Family Residence
Price Type --
Prime Location & Magnificent Views from this Home in the Gated, Golf Course Community of Tonto Verde. 3 Bedrooms, 3 Baths, Office and large Kitchen, Dining, & Great Room area. Granite Counters in the Kitchen with a unique Island, Dacor & Bosch Appliances. Vaulted Great Room Ceiling w/ Wood Beam & Accent Lights. Beautiful 8ft Solid Alder Wood Interior Doors throughout. Andersen Window & Sliding Doors with Wood Shutters & Sunscreens. Wrap around back Patio with wood Posts, heated Spa, Built-in BBQ, Fenced, & Views of the Mountains, Lake, and Golf course. Lithium Golf Cart, all Furniture & Furnishings are negotiable and available. This home has a Pass Thru Golf Membership available with Two Championship Golf Courses. Come and see the best of Tonto Verde!

20107 W Medlock Drive Litchfield Park, AZ 85340

$2,000,000
5 Beds
5.5 Baths
5,300 SqFt
Status Active
MLS # 6777104
Property Type Single Family Residence
Price Type --
Welcome to ''Medlock Ranch'' your dream retreat in the heart of Litchfield Park. This sprawling 3-acre estate offers a luxurious blend of modern living, equestrian excellence, and recreational paradise. With an 8-car garage, horse facilities, and an abundance of outdoor fun, this property has something for everyone. The main house features 4bed/5bath and over 5,000 sq ft with all bedrooms on the main level, ensuring convenience and accessibility for every family member. The open and airy great room floorplan is perfect for entertaining, while an upstairs loft/game room adds a touch of fun and versatility. The 8-car garage is a haven for car enthusiasts and adventurers alike. Featuring extended height, it can accommodate your RV, boat, or off-road vehicles with ease.

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