fun to renovate a property. It’s just that it needs to be approached with an open mind and lots of patience!” says Skoko Sebola, Principal at Leapfrog Midrand.“Fixer-upper” is simply the term used to describe a property that needs structural and/or aesthetic improvement. The state of disrepair often means that these properties are available at a lower purchase price than the market average.
There are a couple of factors worth taking into consideration before committing to a fixer-upper, not least of them being whether you enjoy wading through dust, cement, building rubble and the like!“The worst property in the best area is a far better purchase than the best property in an undesirable area” is something of a property maxim and definitely a guiding principle when purchasing a fixer-upper.
Also, make sure the property is structurally sound. Alternatively, confirm the issues that will be addressed. This is to avoid needing to replace items like the roof with the budget you earmarked for the bathroom renovations within two months after taking ownership of the property.