With so many options out there, figuring out how to find the perfect fixer-upper can be an overwhelming task. For those with little time and even less patience, this quick guide will help you find the right fixer-upper in Hudson, Newburgh, Beacon, or surrounding areas in Upstate, NY without wasting your valuable time and energy on properties that don’t fit your needs. Here are your best options when looking for the perfect fixer-upper in Upstate, NY!
Decide what you want
The first step is deciding what you want. Are you looking for a spacious home on a large plot of land or are you more interested in a historic village house with loads of character? Do you want to live close to city amenities and public transportation or would prefer your own private retreat?
Stick with your budget
If you’re not sure how much house you can afford—or if you want to avoid getting into too much debt when you buy your first home—stick with your budget. While we may have all heard that It’s better to own a home than rent one, it doesn’t make sense if your monthly mortgage payments are more than your rent payments are now. When looking at homes for sale, remember: location is everything.
Get your financing set up
Before you start looking at properties, make sure you have your financing set up. If you’re a first-time homebuyer or purchasing with someone else who is new to homeownership (like a partner), it’s a good idea to work with a loan officer or lender before you begin your search.
Look for homes that need updates throughout
People buy fixer-uppers for all sorts of reasons: a job change that requires a move; an empty nest that needs filling again; or retirement. If you’re looking for a home because you’ve recently lost your job and need something cheap to live in while you figure out your next step, don’t fall into temptation by buying a home with more problems than it’s worth.
Set aside some time to explore your town/city
This will give you a better idea of what’s on offer. While you’re at it, ask some agents about their favorite deals; they may be able to point you toward some hidden gems that are currently off-market. You can also use real estate sites like Zillow and Trulia—but be sure to check multiple sites for accuracy and consult a professional if you’re planning on buying or selling any property.
See if it has potential.
Buying a fixer-upper home in the Hudson Valley can be great—if you buy smart. Before you rush out and start looking at homes, ask yourself: Does it have potential? If so, is it worth taking on some of that potential? And what will those costs be down the road? Consider all aspects of ownership when deciding whether or not to pursue a house that needs work. If your budget and time aren’t flexible, steer clear!
Know what you are getting into.
It’s important you fully understand what you are getting into before jumping into homeownership. There is a lot more than just sweeping floors and changing light bulbs. Know everything that needs to be done around your house and how much it will cost.
Make sure everything checks out.
Once you’ve found a potential fixer-upper, whether it’s a home or a car or an apartment building, be sure you check everything out thoroughly. It’s important that you take your time when buying a property because there are many things that may not be apparent at first glance. Examine every single detail and make sure everything works before signing on any dotted lines. Otherwise, you might end up with a major headache on your hands—or worse!