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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3792 S Tower Avenue Chandler, AZ 85286

$575,000

3 Beds

2.5 Baths

2,042 SqFt

Status Active

MLS # 6730052

Property Type Single Family Residence

Price Type --

Seller offering $5,000 credit! Well maintained 3 bedroom, 2.5 bathroom home with a pool, irrigated front yard, newly painted interior walls. Great floor plan with 2 living areas on the main floor - open area when you enter the home plus great room concept kitchen and family room at the back of the house. The kitchen has ample storage and counter space and is open to the spacious family room with dramatic two story ceiling. All 3 bedrooms are upstairs. The oversized primary suite faces the back of the home. The attached bath features dual vanities, soaking tub, step in shower, and walk in closet. The secondary bedrooms are nice sized and both have ceiling fans. There is a nice built in desk at the top of the stairs plus upstairs laundry! BRAND NEW AC UNIT! The backyard has a covered patio, a meticulously maintained pool and waterfall feature. Plus mature landscaping and a fire pit! Great location near freeways and amenities!

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22701 E Avenida Del Valle -- Queen Creek, AZ 85142

$575,000

5 Beds

3 Baths

2,799 SqFt

Status Active

MLS # 6732380

Property Type Single Family Residence

Price Type --

Contemporary 5 bed, 3 bath house with 2,800 sqft in Queen Creek's sought-after Meridian community. Built in 2018, with updated styling throughout. Enjoy a gourmet kitchen, spacious master suite, and a low-maintenance yard. The residence also boasts a 3-car garage. Experience Arizona living at its finest with access to the 5,000 sqft community pool and quick access to Queen Creek Marketplace, top-rated schools and scenic parks. This house is also pre-wired for 16 security cameras.

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2315 E Monona Drive Phoenix, AZ 85024

$575,000

3 Beds

2 Baths

1,656 SqFt

Status Active

MLS # 6734118

Property Type Single Family Residence

Price Type --

JUST RENOVATED! AC & ROOF 2023. Welcome to this beautiful 3-bed, 2-bath home that has been recently remodeled! Vaulted ceilings and the open concept kitchen and family room make this a great space for gathering and entertaining. The kitchen has new stainless steel appliances, quartz counters, a pantry, white shaker cabinetry, and an island with breakfast bar. The large primary bedroom has a gorgeous en-suite bathroom with dual sinks, separate tub and shower, & a walk-in closet. Enjoy the privacy of the backyard & relax outside under the covered patio. This home also has brand new exterior paint, so from curb appeal to stylish interior finishes...this place is ready for you!

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13357 W Mayberry Trail Peoria, AZ 85383

$575,000

2 Beds

2 Baths

1,827 SqFt

Status Active

MLS # 6743221

Property Type Single Family Residence

Price Type --

Very livable, Charming 2 bedroom, 2 bath plus Den home in the highly desirable Adult community of Trilogy in North Peoria! This special home has great curb appeal. Step inside to a nice open den space and split front bedroom. Initing living/dining and kitchen area where you will find a large seating island, granite counter tops, Clean white cabinets and stainless appliances. Primary bedroom with ensuite bath featuring dual vanities, beautiful step in shower and walk in closet. Wonderful outdoor living with large covered patio overlooking a beautifully landscaped yard with extensive use of pavers and artificial turf. Trilogy offers the very best of retirement living in Arizona - community pools, fitness centers, golf, tennis, pickleball and loads of classes and clubs!

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6402 N 45th Avenue Glendale, AZ 85301

$575,000

5 Beds

4 Baths

2,681 SqFt

Status Active

MLS # 6744593

Property Type Single Family Residence

Price Type --

Welcome to this stunningly remodeled 5-bedroom, 4-bathroom home, where no detail has been overlooked. Every aspect has been updated, featuring new tile flooring, Italian cabinetry, sleek black stainless steel appliances, modern windows, fresh lighting, new paint throughout, and so much more. The spacious open floor plan includes multiple living areas and a versatile den or dining room. Outside, enjoy a generous covered patio perfect for entertaining, alongside a garden area surrounded by mature citrus trees. Conveniently located within walking distance to schools and shopping, this home offers both luxury and practicality with space for everyone to enjoy!

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2647 N Miller Road Unit 16 Scottsdale, AZ 85257

$575,000

3 Beds

2 Baths

1,542 SqFt

Status Active

MLS # 6746341

Property Type Single Family Residence

Price Type --

Rare Old Town Scottsdale Single Family Detached with Two Car Garage on the Coronado Golf Course. New paint in and out with BRAND NEW HVAC system. New Water Heater, and Appliances. Three 3yr old Roof and Updated fire sprinkler heads. This amazing home on a premium lot with a community pool and no common walls. A wonderful year-round home, winter getaway or income property. Large living/dining area with fireplace, tall ceilings, and golf course views. Owner's suite has golf course views, private bath, walk-in closet and patio exit. Third bedroom can be an office with french doors. Direct entry to kitchen with pantry from a 2 car garage with built-ins. Full size washer and dryer with lots of storage space. Enjoy premier Scottsdale art galleries, upscale shopping, restaurants, local music

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3308 E Jasper Drive Gilbert, AZ 85296

$575,000

3 Beds

3.5 Baths

2,537 SqFt

Status Active

MLS # 6747866

Property Type Single Family Residence

Price Type --

Charming Family Home in Prime Location! This inviting 3-bedroom, 3.5-bath home offers the perfect setting for family living. Featuring a versatile loft space ideal for a playroom, family movie nights, or a cozy home office. The spacious, fully turfed backyard is ready for endless outdoor fun, whether it's for games with the kids or relaxing under the stars. Located just a short walk from local restaurants and stores, this home combines the warmth of family living with the convenience of nearby amenities. A wonderful place to make lasting memories!

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28721 N 128th Drive Peoria, AZ 85383

$575,000

2 Beds

2 Baths

1,813 SqFt

Status Active

MLS # 6749410

Property Type Single Family Residence

Price Type --

This charming, meticulously cared for home has 2bd/2ba + den and is located on a quiet cul-de-sac in the highly desirable, gated community of Trilogy at Vistancia. This lovely home has many upgrades including central vac, a large eat-in kitchen with loads of storage, s/s gas appliances, and it opens to the great room with a custom wall unit and built-in surround sound. Just off the great room is access to a tranquil, private courtyard complete with a gas fireplace. The backyard has lush landscaping, fire pit, fountain, mister system, artificial turf and generous use of pavers. The upgrades continue in the extended garage which has plenty of storage cabinets, shelving, mop sink, and epoxy floor. You can even listen to music/tv from the great room with the built-in speakers in the garage. You will absolutely love the world class amenities in the active adult community of Trilogy at Vistancia.

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6309 N 14th Street Phoenix, AZ 85014

$575,000

3 Beds

3 Baths

2,226 SqFt

Status Active

MLS # 6748320

Property Type Single Family Residence

Price Type --

Discover this exceptional home nestled in an exclusive gated community of just 22 patio homes. Perfectly located for easy access to entertainment, shopping, downtown, and the airport, this residence offers the ultimate in convenience and luxury. Inside, you'll find two master suites, with a third bedroom that can easily serve as a guest room or home office. The spacious living room features a cathedral ceiling and a stunning fireplace, while the charming patio off the dining room offers an elegant oasis to unwind. Additional highlights include brand-new HVAC and flooring, and fresh interior paint!

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1639 E Redfield Road Gilbert, AZ 85234

$575,000

4 Beds

2 Baths

1,820 SqFt

Status Active

MLS # 6750971

Property Type Single Family Residence

Price Type --

ALL ELECTRIC* ZERO UTILITY BILLS *MONTHLY REBATE FROM SRP* TOP OF THE LINE TESLA SOLAR SYSTEM WILL BE PAID OFF AT THE CLOSE OF ESCROW.* *HIGH EFFICIENCY HVAC SYSTEM 2023* *WOOD FLOORING AND CARPET 2024* *HALL BATH ENLARGE AND REMODEL 2024* *TESLA SOLAR SYSTEM 2022* PERFECT FAMILY HOME IN SONOMA RANCH. GREAT SCHOOLS CLOSE BY, NEIGHBORHOOD PARKS, BEAUTIFUL YARD WITH SWIMMING POOL. NORTH SOUTH FACING HOME. HOME IS MOVE IN READY.

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7723 W Encinas Lane Phoenix, AZ 85043

$575,000

5 Beds

3 Baths

3,818 SqFt

Status Active

MLS # 6751731

Property Type Single Family Residence

Price Type --

Discover your dream home in Phoenix! This stunning property boasts a spacious 3,818 sq. ft. floor plan with 5 bedrooms and 3 bathrooms, perfect for growing families or those who love to entertain. Enjoy Arizona summers with your very own private pool, ideal for relaxing and hosting gatherings. The home features a brand-new AC system and updated flooring, ensuring comfort and style throughout. Located next to a beautiful greenbelt to the west, this home offers a peaceful outdoor environment while being close to local amenities. Don't miss out on this amazing home.

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17392 W Grant Street Goodyear, AZ 85338

$575,000

4 Beds

3.5 Baths

3,148 SqFt

Status Active

MLS # 6753144

Property Type Single Family Residence

Price Type --

Welcome to your new home in Canyon Trails! It's a 4-bedroom, 3.5 bath, 3148 sf single-level home on an oversized corner lot with a 3-car tandem garage and RV gate! Enter through the charming courtyard that leads into a home rich with character. Enjoy a spacious open floor-plan with natural light pouring through the windows, neutral custom paint throughout, and a blend of tile and wood-look floors. The large kitchen shines with stainless steel appliances, wall ovens, tons of cabinetry for extra storage, granite countertops, and a large center island with a breakfast bar. Get a good night's sleep in the main suite, featuring backyard access, a sitting area, and a private bathroom with dual vanities, a soaking tub, walk in shower, and walk-in closet. 3 additional bedrooms, including another en-suite, plus a versatile den offers office potential towards the front of the home. Out back you'll find a low maintenance yard with a screened-in patio and Ramada ready for cooler temps! Easy access to major freeways, shopping, dining and Spring Training Games at Goodyear Ballpark. Don't miss out!

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