Most fixer uppers are homes that usually need a number of home repairs that generally do not require special knowledge or expertise on your part, as the homeowner. Fixer upper homes can be excellent bargains when the “asking price” is significantly lower than comparable homes nearby but in good or excellent condition.

Fixer uppers needing a cosmetic fix-up can be a great investment property. Most need some repainting outside and inside (paint can do a lot of wonders), floor refinishing or new carpets, some new lighting fixtures, little repairs, complete cleanup and landscaping.[I:http://homestyleteam.com/wp-content/uploads/DocSchmyz6.jpg]

If the home necessitates massive repairs such as electrical and plumbing problems that usually are expensive, it will slash your profit back or worst, eliminate it.

Before purchasing any house , a professional home inspection should be completed. The inspector can provide you an accurate idea of what existing problems the home has and what repairs are needed.

Here are frequently found fixer upper defects that might need your attention:

Roofing

Insulation

Plumbing system

Electrical system

Central heating

Central cooling

Water seepage

Structural (Most of these defects requires expensive repairs especially when talking about the value these repairs will return upon resale.)

Most often, major defects go unnoticed because fixer upper buyers usually can’t see the inside workings, hidden out of view or behind walls. When buying you a fixer upper you need to turn over a few stones.

A broken or damaged “heat-exchanger” in the heating system, faulty wiring, termite damage, lead accumulation, as well as asbestos insulation are common physical flaws that you can’t see immediately and need to be corrected before a re-sale.

Indications of these problems are as follows:

Moisture stains that can be found on ceiling and walls could mean plumbing problems.

Separations between wall and floor specifically for outer walls could mean structural problems.

Sawdust piles near woodwork or wall corners can be an indication of termites.

A home inspection from a professional

The average professional home inspections can cost about 200-325 dollars depending on the kind of property, square footage, etc.

When hiring a professional home inspection of fixer upper houses, it is wise that you obtain quotations first from several competing companies. However, the lowest bidder shouldn’t be immediately given the job; aside from the price, you must inspect the “quality of service” they offer as well as the company name. It is important to choose a company with a good reputation.

Several home inspection companies have some kind of computer-like machines which can supply inspection reports and descriptions instantly then the company adds their “pre-printed” sections which are very helpful for you in order to understand the fundamentals of repairing, fixing and replacement.

The most important part of a home inspection is that the inspector gives an entirely impartial appraisal and assessment of the house, inspecting everything carefully from electrical systems, plumbing to structural to make certain that the fixer upper house you are purchasing is sound.

Professional home inspectors can make certain that all major systems (air conditioning, plumbing, furnace) are working properly or they can pinpoint defects to you because these kinds of repairs will cost you a great deal of money.

However not all major repairing problems automatically indicate that you shouldn’t purchase the fixer upper home, because they can and should be added in the home’s price negotiations.

A good fixer upper seller or realtor will and can factor in said considerations or concerns and you possibly can purchase the home for even less if you put it clearly that you will be responsible for the repair or replacements. Just be careful that you don’t get tricked. Never take anybody’s word that the plumbing, the furnace or the electrical have no problems at all; you have to make certain.

Sometimes walking away from a “deal” is the best option. Perhaps it is due to location or a disagreement on price with the current owner. (Repair costs are almost always a sticking point)

In order to really make a good investment in a fixer…you need to find the hidden “information”. Most of the time a seller will not go out of the way to tell you. In some cases it isnt done out of spit…it might be information the current owner isn’t aware of themselves.

Doc Schmyz has invested all over the US. His free website shares Real estate investing information for all over the US. Findreal estate information by state