Loudell Insley - Salisbury MD Real Estate Agent and Homes for Sale

Salisbury Maryland Homes and Real Estate

 
410-726-2249
loudell@loudell.com
  • Home
  • Featured Listings
  • Blog
    • From the Blog
    • Mallard Landing
  • Community Calendar
  • Meet Loudell
  • Loudell’s Sold Homes
  • Contact
  • Property SearchSearch for Homes
  • Home ValuationFind our Your Home’s Current Value
  • ContactHave a question? Contact Loudell!
  • My AccountLogin to Saved Listings and Searche

Your Complete Guide to Fixer Uppers

August 26, 2019 by Loudell Insley

Buying a fixer-upper can be very exciting but also a little bit scary, especially if you’re a first-time homeowner. On the one hand, a fixer-upper gives you the opportunity to create the house of your dreams. Of course, a lot can go wrong if you do not choose your house correctly or perform the right projects in the correct manner. To get you started on this journey, here is a quick run-down of the process of buying and fixing up a fixer-upper.

The Buying Process

The very first step to transforming a fixer-upper into your dream home is to find a fixer-upper. Finding a fixer-upper is not much different from finding any other house. You can either search the internet and local listings or you can hire a real estate agent to do the legwork for you. You will probably have the most luck by focusing on the foreclosure ads. These listings usually contain more run-down homes that might be a steal for someone looking for a fixer-upper. Foreclosure auctions can be somewhat confusing if you have not attended one before, so we suggest reading up on them before running out the door.

You should also take the time to calculate how much money you can spend on your home. Be sure to take into account the down payment, monthly spending, loan type, and current average APR and compare these averages against your annual income. This will give you a good estimate as to how much you can spend. Since buying a fixer-upper usually requires putting a decent amount of money into the home after you buy it, take that into account as well.

What Projects to Tackle First

So, you’ve bought a fixer-upper and you have high hopes! Now it’s time to tackle that actually “fixing” part. We recommend tackling projects that make the house safer and more livable first. Old, rusty pipes? Consider replacing them altogether, especially if they are lead or polybutylene. Is the electrical acting up? Hire an electrician to ensure that the job gets done correctly. You should also consider addressing the HVAC system before you get started on anything else; that way, you’ll have a nice environment to do your work in. Just keep in mind that you may end up shelling out between $163 and $548 on average to get it in tip-top shape.

After these major projects are out of the way, it’s time to start on projects that are required to make the house livable. If you don’t have the floor, it’s time to get one laid down. No appliances or showers? You should add those in as soon as you are able. Make the house livable before focusing on aesthetic repairs so that you can move in and stop paying rent. Also, consider picking up some tools — drills, saws, etc. — to help you with these DIY projects.

To Stay or Go?

This can be an extremely tough question, even if you’ve planned to stay in your fixer-upper the whole time. The promise of a big paycheck can quickly make you question if you should instead sell your home. First, consider whether you have the endurance to fix up another home. Home repairs can take a long time, and living in a barely functioning house can wear anyone down. Plus, according to U.S. News, selling a home can take a long time. If not, don’t sweat not selling your home and starting all over. Enjoy what you’ve accomplished!

If you do want to sell your home, find a good realtor, preferably one that specializes in selling fixer-uppers. Fixer-uppers can sometimes scare off potential buyers if they learn the past state of the home. Figuring out that the home was once in shambles can make them feel unsure and worried about potential problems that might pop up. A realtor should be able to calm these fears and can be a true asset in selling your home.

Fixing a fixer-upper is exciting, worrying, and time-consuming. Partner with some world-class experts and follow your heart when it comes to design choices. It is bound to be an exciting ride!

Photo Credit: Pexels​

Filed Under: From the Blog Tagged With: fixer upper, home buying tips

Thinking of moving closer to the kids?

March 3, 2015 by Loudell Insley

sbcp

Americans are highly mobile.  In fact some of the most mobile groups of people are seniors relocating to live near their children and grandchildren.  Or to avoid the high real estate taxes in their home states.

Whatever the reason, stop to consider how many friends you have made over the years that you will be leaving behind.  It’s not so easy to make new friends in your new location.  We tend to forget how many friends we have made and dropped over the years.  How many friendships did you make through your children while helping them at school?  Here are a few points to ponder as you plan your future.

Does the community you are moving into have a means for you to meet new people?  Is there a club house or does the town have a lot of activities?  Perhaps there is a college where you could learn more about a subject you enjoy.  Is there a community center? A cultural center? Somewhere to go when you are bored out of your head?  Do you enjoy hiking, antiquing, crafts, the arts, golf or tennis?  I call this a life support system.

You need ways to meet people because you can’t spend all your time with your kids.  And what if your children change jobs and move out of state?  They might have a relocation package to help with their expenses, but you won’t have one.  You may be left behind in a strange community in a market in which you cannot easily sell your house. And you know no one.

Salisbury, MD has institutions of higher education, tons of nearby golf courses and tennis courts, good shopping and restaurants, outdoor sports, a thriving arts and cultural center.  If you are considering a move, touch base with me.  This is my favorite hometown.  I was born and reared here and can help you “get involved.”

Life is good and getting better!

loudell

Filed Under: From the Blog Tagged With: home buying tips, loudells tips, retirement

Maryland Interest Rates

Powered by MD Interest Rates

Quick Search

$
$

Local Quick Searches

Berlin
Bivalve
Delmar
Fruitland
Hebron
Marion
Parsonsburg
Princess Anne
Quantico
Salisbury
Tyaskin

Salisbury, Maryland Living

Loudell Insley Long & Foster Salisbury Maryland "I’ve always said ‘life is better in Salisbury.’ Why? Its residents truly care about the area and get involved to make it a great community. It’s a privilege for me to use my knowledge and experience to help people make the best decisions when it comes to their homes here.” [Read More...]

Salisbury, MD Real Estate

Salisbury Homes for Sale
Salisbury Homes for Sale $0-$200,000
Salisbury Homes for Sale $200,000-$400,000
Salisbury Homes for Sale $400,000-$600,000
Salisbury Homes for Sale $600,000-$800,000
Salisbury Homes for Sale $800,000-$1,000,000
Salisbury Homes for Sale $1,000,000 and Up

Contact Loudell Insley

Cell: 410-726-2249
Office: 410-723-3600
11551 Coastal Highway
Ocean City, MD 21842
Contact Loudell

Loudell Insley of Re/Max Advantage Realty Ocean City Maryland

Copyright © 2021 All Rights Reserved - Loudell Insley Real Estate Agent RE/MAX Advantage Realty in Salisbury, MD

Website by market me