Properties that need a lot of work are usually offered for sale at a discounted price.
If you're attempting to buy into a high demand, high priced neighborhood, a fixer at a reduced
price could represent a prime opportunity. Just make sure that you know what you're getting
into before you complete the purchase. Have the property inspected by qualified professionals,
and get estimates from reliable contractors for necessary repair work. Fixer-uppers usually sell
at a discount because of deferred maintenance and functional obsolescence.
In an extreme case, repairs can run in to the hundreds of thousands of dollars.
Recently a couple with two small children made an offer to buy a fixer-upper in Nashua,
a city with an excellent public school system. The demand for homes in Nashua is currently so
high that some listings in good condition sell for asking or over the asking price, sometimes
with as many as 10 and 11 offers. This Nashua fixer-upper presented an opportunity to buy at an
affordable price. The buyers plan to live in the property in its present condition while they
save money for an extensive renovation.
They were preapproved for a mortgage so they knew what price they could afford to buy.
They studied comparable sales information. Fortunately, they had seen most of these properties.
They had experience renovating their current home, so they were able to come up with a
ballpark estimate of how much it would cost to renovate the property. They had lived through
remodeling projects and knew first-hand how disruptive the process can be. Numerous inspectors
scrutinized the property. The inspections revealed that both the roof and the foundation
needed replacing-two large unanticipated expenses. Through further negotiations, the seller
agreed to lower the purchase price by half the amount of these repairs. The buyers also
consulted with an architect who was familiar with the Nashua Building Department requirements.
This revealed that getting approval for the remodel would be a lengthy process.
Armed with this information, the buyers decided to go ahead with the purchase.
Less experienced buyers shouldn't even consider a project of this magnitude.
An issue for most buyers contemplating a major home renovation is whether they will be able to
recoup the costs when they sell. In most cases, the answer is: not immediately. Fix-up
for sale projects involving minor cosmetic improvements are usually profitable when you sell.
But, you usually don't recoup 100 percent of your investment on a major remodel done just
before you sell. Major renovations completed for your own benefit usually pay off if you live
in the property long enough. Your home should appreciate in value over time. You'll earn
appreciation on an asset that has been made more valuable by your renovations. Plus, you'll
enjoy the benefits of the improvements while you're living in the property.
The closing: Buying a fixer isn't for everyone. But if you do decide to take on such
a project, go into it with your eyes open. It could take longer and be more frustrating and
expensive than you anticipate. Fortunately, the results are usually worth it.
| 24 Fixer Uppers For Sale in Southern New Hampshire .
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-HOUSE SOLD IN AS IS CONDITION....DEFINATELY NEEDS WORK-GREAT POTENTIAL. CURRENT TAXES REFLECT HOUSE & ACRE. NEW TAX AMOUNT TO BE REASSED APRIL 2010. APPROX TAXES TO BE $4500+- PER PELHAM TAX ASSESSOR. AKA 96 WINDHAM RD. |
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POSSIBLE INVESTOR OR OWNER-OCCUPIED TWO-FAMILY CONVENIENTLY LOCATED CLOSE TO DOWNTOWN NASHUA, AMHERST ELEMENTARY SCHOOL, AND PUBLIC TRANSPORTATION. REAR PORCHES ON BOTH FLOORS. PARKING FOR TWO CARS. LONG-TIME RESIDENTS ON SECOND FLOOR. HOUSE NEEDS WORK. SALE SUBJECT TO LENDER APPROVAL. |
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3 UNIT PROPERTY FOR THE INVESTORS AND FOLKS WITH A KNOWLEDGE OF MULTI-FAMILY PROPERTIES. REAR APARTMENT IS DOWN TO STUDS. THIS PROPERTY NEEDS WORK. THIS IS A FANNIE MAE HOMEPATH PROPERTY. PURCHASE THIS PROPERTY FOR AS LITTLE AS 3% DOWN! CLOSING COST AND APPLIANCE INCENTIVE-SEE ATTACHMENTS. |
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LEGALLY A TWO-FAMILY BUT USED AS A SINGLE FAMILY. HAS TWO ELECTRIC SERVICES, ONLY ONE FURNACE AND WATER HEATER. NEEDS WORK THROUGHOUT BUT HAS MUCH POTENTIAL INCLUDING EXPANSION INTO BARN PARTIALLY COMPLETED FOR ADDITIONAL 19X20 FAMILY ROOM. BEING SOLD 'AS IS' - SHORT SALE. |
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FANTASTIC LOCATION! FENCED IN YARD! HUGE GARAGE FOR LARGE VEHICLE STORAGE AND LARGE ROOM ABOVE OFFERS ENDLESS POSSIBILITIES. MANY UPDATES HAVE ALREADY BEEN DONE- NEW KITCHEN WITH GRANITE, HARDWOOD FLOORS THROUGHOUT THE HOUSE, NEWER WINDOWS, NEWER ROOF, 3/4 OF THE HOUSE HAS NEW SIDING - THE REMAINDER OF THE SIDING WILL REMAIN WITH THE HOUSE. THIS HOME NEEDS WORK AND SOMEONE WHO CAN SEE THE POTENTIAL AND FINISH THE WORK BUT THE EFFORT WILL BE WELL WORTH IT. SUBJECT TO 3RD PARTY APPROVAL. VERY EASY TO SHOW. |
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RANCH STYLE HOME, 5 ROOMS NEEDS WORK |
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INVESTOR OPPORTUNITY! LARGE MULTI-FAMILY WITH 4 UNITS. EIGHT TOTAL BEDROOMS AND SIX BATHS. NEEDS WORK BUT GOOD BONES. NICE OLDER BUILDING WITH GREAT POTENTIAL. PROPERTY SOLD "AS IS". |
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HELP ME OUT; I NEED SOME FIXING! 2 FAMILY WITH FENCED YARD AND DETACHED GARAGE ACCESSED OFF REAR ALLEY. BUILDING HAS SOME UPDATES BUT NEEDS WORK. BUILDING HAS LEAD PAINT CITATION AND REQUIRES ABATEMENT. AGENTS SEE NON-PUBLIC REMARKS FOR SHOWING AND OFFER INSTRUCTIONS. PLEASE PREVIEW TO SEE CONDITION. |
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THREE BEDROOM COLONIAL IN GREAT NEIGHBORHOOD SETTING. HARDWOOD FLOORS, MASTER W/BATH, FIREPLACE, AND SCREENED PORCH ON AN ACRE LOT. PROPERTY NEEDS WORK AND SUFFERED PRIOR FREEZE DAMAGE. SELLER WILL NOT TURN ON UTILITES. SOLD AS IS. PROPERTY NOT FINANCABLE. PROPERTY PLACED CONTINGENT TO ALLOW SELLER TO REVIEW MULTIPLE OFFERS |
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RANCH WITH BIG OPEN YARD. HOUSE NEEDS WORK. LIVING ROOM WITH CATHEDRAL CEILING, STONE HEARTH FIREPLACE/WOODSTOVE HOOK-UP, SLIDERS TO DECK. CIRCULAR DRIVEWAY WITH LOTS OF PARKING AREA. 2 OUTBUILDINGS.AGENTS SEE MLS USER REMARKS FOR OFFER AND SHOWING INSTRUCTIONS |
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ALL NEW IN 2007, KITCHEN, BATHS, ALL HARDWOOD FLOORING & TILE, WINDOWS, HEATING SYSTEM & HOT WATER TANK, WELL EQUIPMENT. BRIGHT OPEN KITCHEN & DINING ROOM, FULL FINISHED BASMENT WITH 3/4 BATH. HORSE BARN & PADDLOCK NEEDS WORK BUT HAS POTENTIAL, ABOVE GROUND POOL, PATIO W/POND, ALL ON OVER AND ACRE LOT. |
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INVESTORS, GREAT OPPORTUNITY! LARGE HOME WITH 12 ROOMS AND 6+ BEDROOMS. LOTS OF POTENTIAL, IN-LAW OPTIONS OR CONVERT TO TWO FAMILY. NEEDS WORK, CASH OR RENOVATION LOAN. TOWN REQUIRING ELECTRICAL UPDATES. NEWER ADDITION IN 1980'S WITH FARMERS PORCH.OFFERS MUST BE MADE THROUGH REALTYBID.COM |
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SPACIOUS 5 ROOM, 2 BEDROOM, 2 FULL BATH, 2 STORY CONDEX WITH A PARTIALLY FINISHED BASEMENT. BANK OWNED PROPERTY. INTERIOR NEEDS WORK. PROPERTY BEING SOLD "AS IS" |
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CUTE HOME IN NEED OF SOME TLC. GREAT STARTER HOME OR FIXER UPPER. 3 BEDS AND 1 AND A 1/2 BATHS. SMALL YARD THAT NEEDS YOUR TOUCH! ONE CAR GARGE. EASE OF CONVIENCE, WITHIN WALKING DISTANCE OF TOWN CENTER, SCHOOL AND BALL FIELDS. |
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BEAUTFUL WATER VIEWS AND WATER ACCESS W/$55.00 YEARLY FEE. HUGH LIVING RM W/FIREPLACE. INVESTORS TAKE NOTE, LOTS OF SQ FT IN THIS HOME W/PRIVATE FENCED IN YARD. NOT A DRIVE BY. THIS HOME NEEDS WORK BUT AT A GREAT PRICE. NOT BANK OWNED. EASY TO SHOW |
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INVESTORS TAKE NOTICE! GREAT POTENTIAL! NEEDS WORK. CLOSE TO GOFFSTOWN'S MAIN STREET ENJOY ALL THE CHARM GOFFSTOWN HAS TO OFFER WITHIN WALKING DISTANCE FROM YOUR DOOR STEP! CASH ONLY OFFERS. |
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HANDYMAN'S SPECIAL NEEDS WORK. |
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JUST IN TIME FOR SPRING. 45 FEET OF DIRECT LAKE FRONTAGE WITH COTTAGE AND SCREENED PORCH FOR LESS THAN THE ASSESSED VALUE OF THE LAND! USE THE EXISTING COTTAGE OR BUILD YOUR NEW DREAM HOUSE. NEEDS WORK. WOOD STOVE, BOAT SLIP AND DOCK. BRING YOUR BOAT! |
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THERE IS NO QUESTION THAT THIS THREE-BEDROOM RANCH NEEDS WORK BUT FOR THIS PRICE IT IS A STEAL. SHORT-SALE PROCESS IS IN PROGESS AND WILL BE EXPEDIATED WITH OFFER. DON'T LET THIS VALUE PASS YOU BY. AS IS. |
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GREAT PLACE FOR A HOME BUSINESS OR SMALL FARM. HISTORICAL 4 OVER 4 1810 COLONIAL ON CORNER OF RT. 43 IN SOUTHERN DEERFIELD, WITH FIELDS ON 3.6 ACRE LOT. GUNSTOCK CORNERS, 7 FIREPLACES. 4 LEVEL BARN WAS USED FOR SEVERAL BUSINESSES, APARTMENT. POSSIBLE BUSINESS SITE WITH LOTS OF DRIVEBY TRAFFIC, NEAR 101 MANCHESTER. BARN NEEDS WORK. |
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ANTIQUE COLONIAL WITH GENEROUS ROOM SIZES, PINE FLOORS, DETACHED 2 STORY BARN WITH HORSE STALLS, 3 CAR GARAGE, SHEDS AND SO MUCH MORE. A TRUE FIXER UPPER WITH PLENTY OF SQUARE FOOTAGE. COUNTRY LIVING WITH ALL AMENITIES CLOSE TO OCEAN AND CONCORD/MANCHESTER. INFO BELIEVED TO BE CORRECT BUT IS NOT QUARANTEED. AGENTS: PLEASE SEE NON-PUBLIC REMARKS. |
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2 BEDROOM BOW RANCH IN NEED OF LOVE. WONDERFUL 2 ACRE CORNER LOT WITH BARN. HOME HAS SCREEN PORCH, FAMILY ROOM, FULL UNFINISHED BASEMENT. NEEDS WORK. REHAB LOANS OR CASH OFFERS ONLY PLEASE. FANNIE MAE OWNED, BEING SOLD AS IS, ADDENDUM APPLIES.SELLER WILL CONTRIBUTE UP TO 3.5% OF THE SALES PRICE TOWARD THE BUYERS CLOSING COSTS, WHIRLPOOL APPLIANCES OR A COMBINATION. INVESTORS EXCLUDED. CONTRACTS MUST CLOSE BY 05/01/10. |
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COUNTRY STYLE COLONIAL HOME ON A NICE STREET IN BEDFORD. HOME NEEDS WORK INSIDE AND OUT, BUT HAS GREAT POTENTIAL WITH 4 GOOD SIZE BEDROOMS AND A MASTER BEDROOM WITH BATH. NO FHA, FHA 203K OK. HOME WARRANTY UP TO 3.5%. BCC AND APPLIANCE DISCOUNT. SEE ATTACHED FLYER. |
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PROPERTY NEEDS WORK GOOD CANDIDATE FOR A REHAB LOAN. WIDE PINE FLOORS ON 1ST FLOOR, BACK TO FRONT LIVING ROOM, LARGE DINING ROOM WITH BAY WINDOW, 3 OVERSIZED BEDROOMS. LARGE LEVEL LOT WITH A BARN 3 BEDROOM 1.5 BATHROOM .SELLER IS CURRENTLY OFFERING FOR OWNER OCCUPIED BUYERS AN EXTRA 3.5% FOR CLOSING COSTS OR APPLIANCES. |
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