Whatever is a fixer-upper? You may have heard of it but do not precisely know what it means, much less how it is essential to consider it when looking for a house and lot for sale for you and your family to call home.
Let us first introduce you to the American TV Series called Fixer Upper, hosted by Chip and Joanna Gaines. It is a reality television show about renovation and home design – not really of a house and lot for sale, but, basically, rather remodeling of a house to make it even more beautiful and homely than it already was. The show became such a hit that it lasted for four years straight in the 5 seasons it aired. It goes to show how people admire revamps, glow-ups, and second chances when it comes to properties. Thus, so should you.
Sure, when it comes to advising our children when it comes to their love life, we tell them that at the sight of the first red flag, we ran away as we could. “Fool me once, shame on you; fool me twice, shame on me,” we always quote. They deserve the best of relationships, and they should never lower their standards for anyone. Marami pa naman iba diyan, we say.
However, when it comes to real estate this mindset should never cross your mind.
Of course, who does not want a brand-new house and lot for sale? With the sharp scent of everything newness? There is always something unique when you start from scratch. But do you know what other option could even be more interesting? To build your home, with an already existing one. That home is called a fixer-upper.
A Second Chance You Should Never Avoid
By layman’s definition, a fixer-upper is a property that would require some kind of change. This change could be a repair, a redecoration, reconstruction, redesign, or even all of the above.
However, it is also important to take note that the word had also had been long existing, only, its definition was entirely different–a fixer-upper was widely known as a person who tinkers and repairs things back in the day.
After some time, the term had branched out into another meaning which is our topic for today. This term has been living for some quite time now (thus its trend never has really decreased), as the history books say that it first appeared in The Los Angeles Times in 1948 when someone put up an advertisement of a house and lot for sale.
All the things we experience such as that delicious Magnum ice cream that satisfies our sweet tooth, the democracy we experience here in the Philippines that gives us all the freedom to do what we want to do as long we are not hurting anyone, and even the education our children heavily depend on forging their minds in, all of these have been built upon experiences. Failed experiments, successful ones that got revamped, or a combination of something that did not work with something that did. Basically, a lot of things in life that we absolutely enjoy, revamps. They were made and built not by just a scratch, but by many scratches, checkmarks, and whatnot. If an invention did not work, geniuses would not throw that idea away but they would recycle it. Polish it into perfection.
This principle heavily applies to properties as well.
Why turn down a home that was already home of a previous loving family just like yours? Why not just twist things up a little bit (or a whole lot) into the personalities of you, your lovely spouse, and your adorable children?
When It Comes to Value, Fixer Uppers >>
Fixer-uppers often end up having a greater property value than houses that start from the ground. Like what was mentioned earlier, life is always about reinventing and adjusting to everyone’s liking and comfort. Thus, the more improved stuff is almost always more valuable than those things that have yet to be improved. It wouldn’t make sense if horse carriages had the same market price as cars, right?
Just Add, Add, Add
It is like dressing up. An outfit has already been put up together for you. Now all you have to do is just put on some accessories. You are saved from the hassle of thinking about layouts, and kind of roof your home should have, etc. Although, if you want to completely change the layout of your fixer-upper home, go on ahead. At least you already have the foundation and could easily picture what would work and what would not.
If you are already satisfied with this stuff though, you can easily add a swimming pool to this already-built home. Or repaint the walls. Or add another floor. This house is your oyster. It is already a born baby, now you just have to mold it into the home you and your loved ones want to live in.
No Flipping With Flipping
There are a lot of good reasons why people purchase fixer-uppers. Not only that most of the time they are budgeted compared to starting from scratch, yet-to-be-built homes, but you can even apply a business mind to this prospect. You can take advantage of flipping. Flipping is a property management term that means to buy distressed (not necessarily though) properties and then eventually fix them up to sell them for profit in order to get a return on their investment. With a renovation so splendid, your fixer-upper house may sell even more millions than you could even imagine.
The Key to Your Dream Neighborhood
Say you have been yearning to be in this rich, and splendid neighborhood you have been eyeing for years. And you have the cash to own a home there. Only, all house and lot for sale are already taken. But, take a chance, roam around that community, and see if there are any fixer-uppers that are up for your adoption because we guarantee you there will be at least one. Through the existence of fixer uppers you and your family can finally be in the world you have been dreaming to be in.
Related Blog: Renovation vs. Knockdown Rebuild: Which One Will Be Better for You?
