The Property Brothers make fixer-uppers look easy. But remember that’s just how TV works. Think about the following:
Is the land unsafe?
Consider flood risk, as well as soil contamination. These can be deal-breakers.
Is the home structurally sound?
Fixing foundation problems can get costly. Make sure it’s safe to live in.
Are there zoning/permit issues?
Look closely at improvements. If there aren’t permits, it could spell trouble.
Will the price of renovations overshadow the value?
Think about the investment. Will it prove fruitful when it’s time to sell?
Before buying a fixer-upper, think carefully about all of these elements.