Just Walk on By

            So, you are pretty handy and have tackled several DIY projects with gusto.  You decide that you want a home with character and are not afraid to consider a home that needs a little work.  Sure, Bob Villa is your hero and you can’t wait to get your hands dirty and put your own stamp on your new home.  But, unless you are a professional sometimes buying that fixer-upper is more than the average DIYer can handle.  The asking price may be irresistible but the added cost of unexpected repairs during renovations can really eat into your budget.  So, how do you know whether the home you are looking at is more of a money pit than dream project?

           

          While nothing will replace a full home inspection to determine if there are real problems with a home, there are a few red flags out there.  These warning signs should clue you in that you should move on to the next home as the cost of repair or renovation will outweigh any initial discount in price.  If things like water damage, sagging ceilings, roof damage, cracks and crevices, and rotting wood are major indicators that there are things wrong.  All of these could cost a lot to fix and could mean that there are even deeper issues to resolve.  But what about the things you can’t tell just by looking?  Most fixer-uppers are older which means that there is a higher probability that they may contain lead-based paint, asbestos, or hidden mold, all of which can pose a major health hazard.  The cost of removal by a certified specialist can take a long time, holding up any planned renovations, and can cost a lot of money.  Even though the home is a steal, as the song goes, it may be better to just walk on by.