Julia Vakulenko

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MLS# A4215523

Inside, you will love the cheerful ambiance with high troweled ceilings, open floor plan and walls of glass with beautiful, tranquil views. All, a half a block from the heated community pool and a short ride to the club. Olympic swimming pool,...
Visit this property in SARASOTA: 3341 HIGHLANDS BRIDGE RD #66, SARASOTA

MLS# U7854681

The home has a bay window in the living room, good sized kitchen with breakfast bar and stainless steel appliances. Bathroom with full shower, plumbed for washer/dryer, bedroom with built-ins, mirrored closets and queen size bed. Additional patio...
Visit this property in LUTZ: 20500 COT RD #842, LUTZ

MLS# A4215892

Don't miss out on this charming old Florida home, located right in the heart of historic West Palmetto. Walking distance to restaurants, parks, and entertainment. Easy commute to both St. Pete/Tampa and Sarasota/Bradenton.
Visit this property in PALMETTO: 614 15TH AVE W, PALMETTO

MLS# T2939466

Everything is NEW NEW NEW. The impeccably updated kitchen boasts all new stainless steel appliances, granite countertops, white cabinetry, and a chic glass tile backsplash. A spacious indoor laundry room is an added bonus. Convenient to shopping,...
Visit this property in PORT RICHEY: 8721 WOODCREST DR, PORT RICHEY


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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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