Julia Vakulenko

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MLS# T3374758

Located near restaurants, shopping, downtown Tampa, Clearwater and St. Come take a look to see for yourself that the one-time member fee of $8,025 and quarterly club fees of $435. 35 along with Resort HOAs quarterly maintenance dues of $1,374 will...
Visit this property in WESLEY CHAPEL: 4786 FOX HUNT DRIVE # D741, WESLEY CHAPEL FL 33543

MLS# T3375151

5 baths, 4 car garage, Elevator, Salt water pool and more to mention. Take the elevator to the second floor, Comfortability meets elegance in the Great Living Room illuminated by tons of natural light, gas fire place, and will be amazed by the...
Visit this property in APOLLO BEACH: 541 TREVISO DR, APOLLO BEACH FL 33572

MLS# T3375446

This two-story home is designed for comfortable family living. The first floor opens to a shared space among the living room, dining room and kitchen, with rear patio access for indoor-outdoor living. A versatile loft and four bedrooms, the...
Visit this property in RIVERVIEW: 13163 GREAT PLAINS DRIVE, RIVERVIEW FL 33579

MLS# T3375275

This must see spacious 2085 square foot 3 bedroom 2 bath home is in excellent condition. The home is located in the highly sought after summerfield village and is close to schools, shopping and entertainment. There is loads of cabinet and counter...
Visit this property in RIVERVIEW: 11547 ADDISON CHASE DRIVE, RIVERVIEW FL 33579


Tampa4U.com

Tampa Fixer Uppers

When you are considering the purchase of a fixer-upper, it is really a game of buyer beware. If you do not know exactly what you are getting into before you buy one of these properties, you could easily be getting yourself in over your head. But with organization and planning, you can make a profit by purchasing fixer-uppers, making all the necessary repairs, and reselling the property.

While there is a good business in fixer-uppers, not everyone can get the easy money that the thought of this type of property has promised. It is actually extremely risky to buy one of these homes thinking you could do just a little work and resell fast. Sometimes though, there are hidden problems that could be damage to the structure or other major work. Some cases, the house cannot be fixed at all for profit.

A savvy shopper for a fixer-upper will know to buy the least desirable home in the best neighborhood. Then the buyer will be able to calculate the cost that will bring the home to its full value potential. It is important to the research the market thoroughly before an offer is presented. Buyers never want to waste their money on house payments to carry the property for longer than they have to. Plan to sell under market value if necessary.

Another good tip is to stay within a budget. If you go overboard, you will never see the return in the sale price. The highest returns come for kitchen and bathroom updates. For first time buyers, it may be a good idea to purchase a home that only needs cosmetic repairs.

Before you get into anything, the most important thing to know it what needs to be fixed. An inspection is crucial to choosing what property to buy. It is worth the money in the end because then you will know exactly what you are getting in to.

Watch the price on the property. If you are buying a fixer-upper, be careful not to overpay. You will want to know the budget for the improvement and selling costs before you shop for a house so that you can determine how much profit you can make from the sale after the repairs. Paying too much for the property will only cut into the profits. Curb appeal, painting, and landscaping should be the first improvements made to get an instant impact.

A fixer-upper can be a great opportunity for a first-time home buyer. It is an even better deal when the person who purchased the property can live in the house while they are working on it. It is also better if they can do the work themselves, but they must know how to do it, otherwise the return won’t be there. And if the buyer lives in the home for at least two years, they can avoid paying income taxes on their profits in some cases. This is a way to ease the risk of buying this type of house.

 

The Home Buying Process:

 

Types of Resale in Today's Market:

 

Taxes, CDD, HOA, and Homestead:

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