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Fixer-uppers are not for everyone, but the results are usually worth it.

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.

8 Fixer Uppers For Sale in Southern New Hampshire.
Salem NH Home $429,900   1648 Sqft | 5 Bedrooms |  2 Baths | 11 Images
Real Estate  in Salem NH       Unique former farm property in country setting with access to pond/view. lot line runs thru half the pond 2 story home with 4 BRs up and potential 5th down or office. Circular driveway with attached large 4 story barn. an attached 1 stall garage. back yard there is a large 2 stall detached garage. Property comes with 30X60 stand alone work shop with 10 foot garage door that is presently leased to a business. Home has been rented and needs work. Barn foundation in good shape. new hoy water tank, updated electrical and newer roof This is your chance to be in Peaceful North Salem with lots of possibilities. and potential notice for group showing will be necessary with tenants

Peterborough NH Home $80,000   2521 Sqft | 3 Bedrooms |  2 Baths | 5 Images
Real Estate  in Peterborough NH       Are you ready for your very own episode of fixer upper? This one has got incredible potential! The 3 bedroom home features a fireplaced living room with a 2 car drive under garage - and only a 2 minute walk to town. The current owner has completely gutted the house and put on a brand new roof. Great views overlooking downtown from the terrace in the backyard. The inside is ready for you to finish! House is being sold as-is.

Pelham NH Condos $149,900   1501 Sqft | 2 Bedrooms |  2 Baths | 10 Images
Real Estate  in Pelham NH       RARE Two Bedroom Condex in needs of some TLC!!!! Bring your Creative Ideas this can be a great rental unit or someone looking for a fixer upper!! This Unit has hardwood flooring in the livingroom and bedrooms. Unfinished Walk out basement has room for further expansion! Come take a look today!!!

New Boston NH Home $217,500   2836 Sqft | 3 Bedrooms |  2 Baths | 13 Images
Real Estate  in New Boston NH       Motivated Seller! Great opportunity for a fixer upper home. Great tri-level home with lots of potential. Lots of work already done including new windows new hardwood flooring in the kitchen, dinning room and living room. New carpet in all the bedrooms. Peaceful wooded lot. A must see home call for a showing today!

Manchester NH Home $184,900   3640 Sqft | 4 Bedrooms |  2 Baths | 22 Images
Real Estate  in Manchester NH       This 9 room, 2 full bathroom, Colonial fixer upper awaits your finishing touches. The second floor bedrooms are down to the studs and the full bathroom has had some updates; first floor with a den, living room, full bathroom, and a two entry access to the upstairs via the kitchen and dining room with a large finished room with two closets on the third floor. Wood floors throughout, a rear enclosed porch, and a wrap around porch from front to side-use caution as porch flooring is in need of repairs. Sold "as is" "where is" and with all faults. The information in this listing is believed accurate but is not guaranteed by the seller or seller's agent. Seller and seller's agent make no representations or warranties.

Hudson NH Multi Family Home $425,000   3761 Sqft | Bedrooms |  0 Baths | 15 Images
Real Estate  in Hudson NH       Mini estate needs work & being sold in "as is" condition with tons of potential. Lots of room for generations of families to live together with seperate entrances or as a great investment opportunity. Large 1.68 acre level lot with an inground pool fenced in on the side yard. 2- three season porches with wrap around deck. Owners unit has open concept dining room with step down living room & fireplace. Very spacious Master Bedroom, 1 1/2 baths all on first floor with 2 more bedrooms & bath upstairs. Huge 2 car detached garage and attached carport. Town card lists it as a 3 unit. Two units could be one larger home if preferred. Set far back from the street. Any money invested in this property will reap back its return nicely. 24 hour Notice to show.

Hudson NH Home $199,000   1894 Sqft | 3 Bedrooms |  1 Baths | 9 Images
Real Estate  in Hudson NH       Investors and fixer uppers take notice! Great neighborhood for this split level home. Needs TLC but has great floor plan and nice back yard complete with inground pool. Hardwood floors throughout with 3 bedrooms and 1 full bath. Newer windows and vinyl siding. The lower level has large recreation room with pellet stove and is plumed for another bathroom. Corner lot!

Bennington NH Home $69,000   2156 Sqft | 3 Bedrooms |  1 Baths | 4 Images
Real Estate  in Bennington NH       Great opportunity to purchase a fixer upper at the low price. Bring your contractor. Convenient in town location with the quintessential "Mayberry" feel. This house has a great in town lot and good bones. Some work has been started.