If a house is in a location you like, is structurally sound and is, of course, a bargain! - Don't turn away too fast. Old, smelly carpet can be ripped out of a house in a matter of hours. A house can be scrubbed from top to bottom and repainted in a week. Don't be turned away by the superficial appearance - or odor!

Stop and take a good look at what a thorough scrubbing, painting and replacing of flooring, fixtures or appliances will do for this property. Electrical,plumbing or structural problems tend to be the most costly to deal with. Make sure you factor the cost of dealing with these into the price of your offer.

Of course, structure and updated cooling systems are very important and this home has that going for it. But the colors!

Try to imagine it with a fresh coat of paint, some crown molding perched under the ceiling. The rooms look a little small? Mirrors and lighting work wonders! Perhaps the yard looks a little overgrown. With a little digging and some shrubbery you've got a natural Florida haven right in your own backyard.

Don't let a few cosmetic rough spots sway you from purchasing what could be the home you imagined. A fixer-upper can be an exciting challenge and chance for you to display your originality and good taste. There's nothing more satisfying than looking at the "before" pictures once you given your place a face-lift.

Start Out Small

Some of the worst examples of mistakes made by buyers of fixer-uppers are first-time buyers who bite off way more than they can chew. Examples of this are houses that have structural problems or will take an exceptionally long time to repair, or are located somewhere other than a desirable neighborhood. These can be a horrible drain on finances, time and peace of mind.

A much better strategy for the inexperienced is to purchase a home in a desirable neighborhood that is in need of cosmetic attention--new paint, carpeting, appliances, landscaping and the like. These repairs can either be handled by the homeowner or are easily contracted out, saving time, effort and money. Yes, money can be made on homes needing major renovations, even if they are in less popular neighborhoods, but use caution as these are jobs for seasoned professionals.

Avoid Surprises

The most expensive situations are often those that are the least expected--those nasty little (and often big) surprises that jump out at you. You can avoid many of these surprises, though, with a couple of easy steps taken BEFORE final commitment to a property.

1) Have the property thoroughly inspected. Have the inspector detail all obvious (as well as potential) defects in the property. Ask us, we'll be happy to recommend qualified home inspectors who can truly ascertain if your find is structurally sound.

2) Run the numbers. You must know the market values for houses in the neighborhood in which you are interested that need no repairs. Running the numbers means working them backwards to see how much equity or profit may be available. You will need to begin by computing the realistic value of the home when all repairs are made. From that point, you will need to subtract any selling expenses you will incur (commissions and the like) as well as the full cost of repairs and, most importantly, the amount of desired profit or equity.

For assistance in determining the numbers click here to send us an email - we'll be happy to help. Describe what you have in mind along with the property address and your contact information . We will get back to you promptly.