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

Fixer 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.

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4684 E Coachwhip Road Cave Creek, AZ 85331

$1,500,000

4 Beds

3 Baths

3,156 SqFt

Status Active

MLS # 6772406

Property Type Single Family Residence

Price Type --

Spectacular and breath taking Mountain Views. Prestigious area of custom homes in Cave Creek, AZ built with post tension slab! Split floor plan with separate living and family rooms, amazing kitchen with newly installed cooktop, double ovens , microwave, refrigerator and a huge pantry. The formal dining area is home to their gorgeous piano right now. The laundry room has lots of built in storage cabinets with a laundry sink as well. Washer and Dryer included. The Master Suite is huge with a separate tub, large shower, two sinks and a great walk in closet. Tiled baths, carpet in the bedrooms. Separate powder room just off the entry for your guests. Bedroom 2 just off the entry is being used as a home office, with Bedrooms 3 and 4 just down the hall. The 3 car garage is extended length and ready for your cars and/or trucks with room to spare. Yes, there is an RV Gate and room for your toys. Sellers just had epoxy done on the garage floors this week. Professionally landscaped front and back with a gorgeous salt water pool, exterior lighting, built in waterfall with its own misting system right in the rocks. The large covered patio is ready for entertaining family and friends or just sit back and enjoy the incredible sunsets yourself. This is truly a perfect oasis that will mesmerize and delight you. Best of all, no HOA so bring your toys. Come see it today and make it yours!

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541 S Dunivin Lane Dewey, AZ 86327

$1,500,000

4 Beds

3 Baths

1,826 SqFt

Status Active

MLS # 6766145

Property Type Single Family Residence

Price Type --

Welcome to your dream horse property! Nestled on 8 acres of pristine land, this fully functioning equestrian estate offers the perfect blend of country charm and modern amenities. The charming home boasts two spacious master bedrooms, ideal for hosting guests or providing extra comfort for family members. Step outside and immerse yourself in the horse lover's paradise. The property features multiple horse stalls, pens, and ample grazing areas, making it a haven for your equine companions. Whether you're a seasoned rider or just starting out, the roping arena is perfect for practicing your skills or hosting events. With scenic views, plenty of space for expansion, and everything you need to live the ultimate country lifestyle, this property is truly a rare find!

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2317 W Dobbins Road Phoenix, AZ 85041

$1,500,000

3 Beds

2.5 Baths

2,675 SqFt

Status Active

MLS # 6778180

Property Type Single Family Residence

Price Type --

Enter this private oasis via security gate, with no view of the property from the street. Industrial design with exposed rafters, concrete flooring throughout, concrete countertops. Two red brick wood fireplaces with concrete face and steel trim. Pella Reserve Contemporary Windows with black wood trim. 12ft multi-slide patio door in living room and 9ft multi-slide in main suite. Saltwater heated diving pool with mountain views. Free standing yoga studio with infrared panels. Garden paradise with mature trees, fruit orchard, and rose garden. Options for pond and greenhouse.

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14749 E Pecos Road Gilbert, AZ 85295

$1,500,000

7 Beds

4.5 Baths

4,271 SqFt

Status Active

MLS # 6773178

Property Type Single Family Residence

Price Type --

Modernized home, in the heart of Gilbert w/ acreage, RV GARAGE, amazing POOL. NO HOA, HORSE privileges, come view this stunning residence where country living meets modern luxury! Sitting on almost an acre, you will enjoy all the privacy this property offers with huge yard spaces (on irrigation), flood lights in front yard and long driveway perfect for all of your toys!!! RV garage is magnificent w/capacity for 8 cars, adjustable AC, and an upstairs loft and plenty of storage. Upon entering, you'll be greeted by a carpeted living room and French doors leading to a spacious den/office. Enter into the gourmet Chef's kitchen w/ top of the line Viking appliances, massive marble island w/breakfast bar, soft-close custom cabinets, a mosaic backsplash, dual kitchen sinks and dishwashers, and a large walk-in pantry w/a pebble ice machine. Home boasts so many upgrades including Contol4 smart home system, 360-degree security, recessed lighting, neutral paint, pre-wired surround sound, vaulted ceilings, central vacuum, and glossy tile floors. Did we mention the 90 degree, 6 panel pocket sliding glass doors! Don't miss the guest quarters towards SE corner of property complete with Kitchenette, full bed and full bath!!! Secondary bedrooms are spacious and Primary Bedroom is absolutely gorgeous with stunning primary bathroom! You will not be disappointed!!!

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5604 S 225th Avenue Buckeye, AZ 85326

$1,500,000

4 Beds

3.5 Baths

3,417 SqFt

Status Active

MLS # 6777965

Property Type Single Family Residence

Price Type --

Wow, exceptional 4-bedroom property in Roosevelt Citrus at Buckeye! This Ranch-style beauty sits on a massive 3.1-acre lot, offering tons of space for livestock & endless potential to get creative. Fully fenced-in, 4-car garage, fun basketball slab, and a low-care desert landscape are features that can't be left unsaid. The interior boasts clean lines that favor a western & functional design completed with plantation shutters, wood-look plank tile flooring, recessed lighting, and a soft grey palette. The formal living room has a dry bar, making it easy to entertain. The large family room boasts an exposed beam ceiling, pre-wired surround sound, and wide sliding glass doors connecting your home inside & out. The bright dining room is attached to the kitchen for ease in serving wonderful

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3076 E La Costa Drive Gilbert, AZ 85298

$1,500,000

3 Beds

3.5 Baths

4,247 SqFt

Status Active

MLS # 6779264

Property Type Single Family Residence

Price Type --

Discover luxury living in Acacia Estates, South Gilbert's premier gated community, this exquisite single-story home built by T.W. Lewis. Spanning 4,247 sq. ft., this residence exudes warmth & sophistication. Step inside to a spacious layout featuring 3 bedrooms, 3.5 baths, an office & separate guest casita offering privacy & comfort for visitors. The living and dining areas showcase rich wood flooring, while opulent travertine flooring in a herringbone pattern adorns the rest of the home. The gorgeous kitchen is a masterpiece crafted for those who love to entertain. Retreat to the grand master suite and spa-like bathroom for ultimate relaxation. Additional features include a 4-car garage, owned solar system- resort-like backyard w/pool - See the document section for more upgrades

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3923 W Fox Road Laveen, AZ 85339

$1,500,000

4 Beds

3.5 Baths

3,462 SqFt

Status Active

MLS # 6779405

Property Type Single Family Residence

Price Type --

Own a piece of paradise at the base of South Mountain in a luxurious, private neighborhood. This custom-built estate boasts breathtaking mountain views and quick access to the I-10 and 202 freeways. Sunset Cove Estates truly embodies its name, offering the Phoenix Valley's most breathtaking sunrises and sunsets. Spanning approximately 3,462 sqft, this home features 4 spacious bedrooms with walk-in closets and 3.5 elegantly designed bathrooms, including a Jack and Jill for convenience. Revel in 14-foot ceilings transitioning to 10-foot in the bedrooms, creating an airy feel. A grand iron front door opens to an expansive living area with a 15-foot window slider framing gorgeous views. The split master suite provides a private retreat, and South Mountain Park's hiking and biking trails are steps away. Experience luxury, comfort, and panoramic views in this exceptional home.

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3744 N Rowen Street Mesa, AZ 85207

$1,500,000

4 Beds

3.5 Baths

3,582 SqFt

Status Active

MLS # 6783714

Property Type Single Family Residence

Price Type --

LOCATION, LOCATION, LOCATION!! SITUATED ON THE BEAUTIFUL LAS SENDAS GOLF COURSE WITH UNOBSCURED VIEWS OF THE COURSE, AND RED MOUNTAIN PLUS THE VERY BEST SUNSETS AND CITY LIGHTS THIS SINGLE LEVEL HOME OFFERS 4 BEDROOMS AND 3.5 BATHROOMS PLUS AN OFFICE, THE GOURMET KITCHEN FEATURES A LARGE PREP ISLAND AND A SEPARATE WET BAR WITH ICE MAKER AND WINE REFRIGERATOR. THIS HOME IS ALSO FEATURES AND OVERSIZED THREE CAR GARAGE. NEW HVAC IN 2022 ALL NEW EXTERIOR STUCCO AND PAINT IN 2023. THIS HOME HAS ALL STONE FLOORING, NO CARPET. HARD TO FIND THIS ONE WILL GO FAST!!

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22245 E Via De Palmas -- Queen Creek, AZ 85142

$1,500,000

7 Beds

4 Baths

4,286 SqFt

Status Active

MLS # 6784197

Property Type Single Family Residence

Price Type --

Country Living on a county island in the Heart of Queen Creek, AZ. Well designed 2''x6'' constructed 7 bed, 4 bath home on 1.50 acres boasting 4 car attached garage and a massive (40' x60') 2,400sf detached insulated garage. Upon arrival you will notice the sought after classic farmhouse style with woodgrain metal siding, stone veneer, and metal roofing. The circular driveway will lead you past the recently installed artificial grass and the front covered porch to the rustic solid wood plank front door. As you enter, the Great Room's high vaulted ceiling with aspen tongue and groove panels, hardwood oak flooring and the custom iron baluster will invite you in. Kitchen features hickory cabinets, large island, stainless appliances and breakfast nook with a bay window view... Split floorpan having two master suites (one on each level) plus an additional two bedrooms downstairs and three upstairs provides plenty of room for family, guests and/or a home office. Additional house features include oversized loft/media room, upstairs study, laundry room with multiple storage areas, Milgard windows, powered window shades, water softener, 400 amp electrical panel, 220V outlet in attached garage, garage racks/storage and a convenient pull through garage door to backyard. Outback the full length patio, large grass area and professional in-ground basketball hoop create the perfect setting to relax and/or entertain. Additional exterior feature include fully fenced backyard, RV gate, front water fountain and mature landscaping. Area features include biking/walking paths, parks, shopping, dining and entertainment.

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7042 E Orange Blossom Lane Paradise Valley, AZ 85253

$1,500,000

3 Beds

2.5 Baths

2,726 SqFt

Status Active Under Contract

MLS # 6761631

Property Type Single Family Residence

Price Type --

Experience timeless luxury in this stunning 3-bedroom, 2.5-bathroom home nestled in the coveted Paradise Valley, offering breathtaking views of Camelback Mountain! Recently updated with fresh paint and new flooring, the open floor plan is both airy and inviting, blending cozy comfort with modern style. The spacious bedrooms provide ample retreat, while the kitchen delights with granite countertops, a walk-in pantry, and a central island. The dining options included a breakfast bar and a sunlit breakfast room. The primary bedroom showcases a walk-in closet with built-ins and a luxurious ensuite bathroom that is a true spa-like retreat. Outdoors, indulge in a private oasis complete with serene water features, a built-in BBQ, and a cozy fire pit. The ramada overlooks a beautifully landscaped yard with synthetic grass, desert plants, and lush greenery, creating an ideal setting for relaxation or entertaining. Conveniently located near Scottsdale Fashion Square Mall, vibrant Old Town Scottsdale, fine dining, and Phoenix Sky Harbor Airport, this home offers both luxury and accessibility.

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1912 E Catamaran Court Gilbert, AZ 85234

$1,500,000

6 Beds

3 Baths

3,798 SqFt

Status Active

MLS # 6774355

Property Type Single Family Residence

Price Type --

This gracious custom waterfront home is professionally decorated and loaded with upgrades. Situated on one of the largest north/south lakefront lots. it has plenty of space for entertaining and a large front & back yard. If you like large gatherings; this home is ideal! Beautiful gourmet kitchen with center island, stainless steel appliances and open to a large family room and eating area. Need more space? Formal dining and living room with vaulted ceilings is currently a game room and 2nd family room. Lower level has two bedrooms, one which would be ideal for home office. Love entertaining outdoors? Huge extended travertine patio with built-in bar and outdoor kitchen area alongside swimming pool. Pool is creatively placed to maximize the rear yard and boat dock for room to run & play. Need a large primary retreat? You'll fall in love with this light-filled bedroom and balcony overlooking the lake. Curl up in the sitting area or relax in the spa-like primary bathroom. Upstairs are 3 additional secondary bedrooms and a bathroom, one that is double-sized! Large oversized 3-car garage perfect if you drive a larger vehicle. Val Vista Lakes has many amenities to offer including pickkle-ball, tennis and raquetball courts, fitness & weight room, sand-entry lagoon, Jr. Olympic pool with spa, walking trails, community garden and a club available for events. Situated between both metropolitan airports it's a short commute either to Sky Harbor or Gateway! 20 minutes to downtown Phoenix to sporting & event venues. Excellent Gilbert schools with many charter or private schools to choose from as well as access to more than 5 top-notch hospitals. If you're considering a move - this home is a 10+ and a must-see.

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12800 E Doubletree Ranch Road Scottsdale, AZ 85259

$1,500,000

4 Beds

3.5 Baths

2,669 SqFt

Status Active Under Contract

MLS # 6782117

Property Type Single Family Residence

Price Type --

REMODELED + MOUNTAIN VIEWS + 1.01 ACRE LOT + PREMIER LOCATION!! Set on a sprawling, private lot with sweeping mountain views, this home is packed with upgrades and eye-catching details that make it truly one-of-a-kind. A beautifully remodeled custom home, this modern southwest retreat blends current design trends with natural elements offering an inviting space for entertainment. Anchored by a cozy wood burning fireplace, the home offers an inviting open-concept great room, raised ceilings with tongue-and-groove detailing, with a sweeping wall of French doors that invites natural light and seamless indoor-outdoor flow. A newly remodeled chef's kitchen impresses with sleek granite countertops, Viking appliances including Frigidaire Side by Side refrigerator and wine fridge, modern cabinetry, and a spacious island with a breakfast bar perfect for casual dining and entertaining. The primary suite offers a luxurious escape with a spa-inspired bath, separate rain shower, and custom-designed spacious closet. Outdoors, an enchanting resort-style backyard invites endless enjoyment for AZ Living & Lifestyle. Lounge by the sparkling pool, fire up the grill at the BBQ cabana, or stay refreshed with the misting system while listening to the soothing sounds of water features. Need to practice your golf swing? Enjoy the new putting green (Jan. 2024) perfect for practice or enjoying a little friendly competition! Oversized 2-car garage with built-in cabinetry, overhead storage racks, insulated garage door and newer motor. Need Room for Desert Toys.......12ft RV Gate, RV parking, added concrete slab and room to store! Imagine the additional space with NO HOA! List of Enhancements: New Electrical Panel & Water Heater (2024); HVAC, Elastomeric Roof Coating, Custom Gates, Concrete Pad (2023); Exterior Paint (2022); Custom Roman Shades, Garage Built-In Cabinets, Overhead Racks (2021); Fully Remodeled Kitchen, Baths, Interior Paint, Lighting (2020) and so much more. Please refer to the detailed document list. The Shea Corridor is ideally situated east of the 101 with close proximity to scenic hiking trails, premier golf courses, fine dining, shopping, the Mayo Clinic, Scottsdale A+ rated schools and a short distance to highly sought after Basis Scottsdale.

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