Are you looking for a deal when buying your next home? Buying a fixer-upper home just might be the way to go but there are some important things to know before you buy. These helpful hints can help you save time, money and a lot of headaches when buying a fixer-upper.

Set a budget: You need to know how much money you can afford to spend. You will want to factor in the price of the property plus the cost of the renovations. Remember to plan for the unknown, add at least 10% to it for “overruns”. Most projects never seem to go as planned.

Plan ahead: Buying a fixer-upper requires more planning. When looking at potential homes you will want to make a list of renovations. Try to come up with an estimated cost of the renovations. You will also want to identify whether or not you have the expertise to do the renovations or if you will need to hire a contractor.

Get a home inspection: There are some things that are unseen to the untrained eye. A good home inspection will be able to tell you all of the needed repairs and potential pitfalls.

Remember buying a fixer-upper is an investment. Follow the tips on this list and you will be prepared for the project of buying, renovating and owning a fixer-upper.

You can’t see it. You can’t smell it. You can’t taste it. But the U.S. Environmental Protection Agency (US EPA) reports 1 in 3 homes have potentially dangerous levels of radon. The Surgeon General’s Office estimates that as many as 20,000 lung cancer deaths are caused each year by radon. Radon is a cancer-causing radioactive gas and is the second leading cause of lung cancer.

If you are having a home inspection or you have lived in your home for a long time the US EPA, Surgeon General, American Lung Association, American Medical Association and National Safety Council all recommend you test for radon. Your home inspector can test for radon, or you can purchase a do-it-yourself test. If you have a well you will also want to make sure to test the water for radon.

If your home has high concentrations of radon (over 4 pCi/L) you can mitigate the radon. You can find a list of certified radon mitigators here.

 

 

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