Four Upgrades You Need to Make Immediately When Buying a Fixer Upper

Fixer-uppers are full of possibilities and potential. When it comes to mastering the property ladder, buying an affordable fixer-upper or “the worst house on the street” and then repairing it and upgrading it to make it beautiful is one of the best ways to increase your net worth. Do it all over again, and you can continue to increase the value of your assets. This is a great way to build generational wealth or at least establish an effective nest egg for when you retire.

Long before you can get to that point, however, you need to buy your first fixer-upper. There are a few things to keep in mind when it comes to buying a worn-down property, and that’s the fact that these properties typically haven’t been upgraded in many years. The property might have even sat abandoned. This means that repairing the damage is your first priority. When it comes to the most common fixes you’ll need to make, look no further than this guide.

Your Roof

Most asphalt shingle roofs (which make up the overwhelming majority of homes) have a lifespan of 30 years or less. If the home was neglected, then there’s a good chance that it needs a new roof, even if it was redone only ten years ago. This is because things like decaying leaves can accelerate rot, which in turn can cripple the structural integrity of the roof itself. That’s why, when you buy a fixer-upper (especially if it was at an auction or bought abandoned), you’ll need to hire experts like PRS Roofing who can inspect your roof, repair it if possible, and replace it if not.

The Foundations

Similarly, you’ll also need to have the foundations inspected and repaired. If there were significant damages to the foundation or exterior walls of the property, then you need to have a long think about whether the property is worthwhile or not before you buy it. If there are only a few light cracks or a few issues that you’re comfortable with repairing, do that before you move in. This applies particularly to the floor’s foundations, stair foundations, and the exterior and supporting walls.

Note: Also check if your home was insulated with asbestos, and if it was, include replacing that with a safer alternative during this round of home upgrades.

Check and Upgrade the Plumbing

Cracked or leaking pipes can destroy your hard work if not addressed ASAP and before you make any cosmetic changes. It’s also important to double-check that your pipes aren’t made out of lead, which can be the case in old homes. Having the plumbing brought into the modern era reduces water damage, dampness, and water costs, making it a critical fix.

Make Sure the Electricity Is up to Code

DIYers have existed throughout history, and because of that, those buying a fixer-upper may come across a mess of wiring. You can’t leave these hack jobs be. They are a huge fire risk and can actually make insurance a nightmare. Have an electrician come and fix up your wiring. While they are there, you can have them add more plugs, add wall lighting, and carry out other jobs.

While these aren’t the only upgrades your fixer-upper will go through, these are the structurally critical ones that will turn your fixer-upper from a safety hazard to a project. They are the first projects you should take on, and the jobs should be done before you move in.