As a first time home buyer, I have been looking for a fixer upper to work on while still in my rental. Any advice for a young property virgin?

Asked by Cass22, Pittsburgh, PA Tue Sep 24, 2013

Specific areas up & coming safe? Financial breaks? fixer upper credits?

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7
Robert Green, Agent, Sewickley, PA
Thu Jan 2, 2014
If you are going to purchase a home, the first thing you need to do is get pre-qualified for a loan - unless you are a cash buyer. Shop around for a mortgage representative; it is a very competitive market right now. The representative will let you know how much money you can borrow to buy a house. They should also give you a good faith estimate - the total estimated cost of actually purchasing the house - this will include estimated closing costs and fees associated with purchasing the home through the lender that you choose.

I would get a couple of quotes from a couple of different sources to find out the best deal you can get. The lowest interest rate may not win. Once you have the amount of money that you can spend, then it is time to go shopping. There are rules with mortgages about when you must occupy the residence in order to get the loan.

Next, I would find a qualified home inspector. Shop around and find one that you can trust. One who will help you determine property condition. This will help you determine whether it would be worth the investment. Though you are buying the house to fix up and live in, always think about how quickly you could sell it if you had to.

There are many factors to consider. Check out neighborhood crime statistics, taxes, and actual property location.
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Benny Smith, Agent, Pittsburgh, PA
Tue Dec 31, 2013
Cass
Have you taken your plan to the nest step. Like our book selling friend below everyone wants to make a living. Agents are no different than other people that serve the community. Servers to Mechanics to Doctors and even lawers; they all are good and bad depending on what you need done. If you are ready to set your goals I am happy to tell you if I am a good fit to help get you where you want to go while earning a fair return for my services. I have bought and sold fixers and flippers. I have built additions, baths, kitchens etc. Fixers are a great way to enter the home market if you have some skills. If you are still interested I can be reached at 412-498-7868. Benny Smith
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Donna Wether…, Agent, Pittsburgh, PA
Sun Dec 29, 2013
Hi,

I would be glad to help you. Feel free to call any time. A link to my website is listed below. There you can even create a custom search and find the home that's just right for you.

Best Wishes,
Donna Wetherbee
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mmtdat, , Pittsburgh, PA
Sat Nov 23, 2013
You could look into 15223, but if working on one while living in another it might depend on where you are located
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Sue Musulin, Agent, Upper St Clair, PA
Wed Sep 25, 2013
Foundations are key in any situation! Be selective in the area of choice, safety first and consider the resale value once your updates have been completed!!! Sue : )
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Virginia Stu…, Agent, Irwin, PA
Wed Sep 25, 2013
Some of the best fixer uppers are estate sales. Look for an older house with good foundation, structure, windows, and roof. Kitchens, baths, and flooring are cosmetic. Those are to top 3 items to put into a home for a return on investment. A good real estate agent can search the multi-list for you for the areas and property criteria that interest you.
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Emily Murphy, Agent, Pittsburgh, PA
Tue Sep 24, 2013
Are you planning on doing the work yourself? Or using contractors? What types of repairs are you comfortable taking on? There are a lot of good programs to assist you in financing the purchase of the home plus repairs such as an fha 203k or keystone home loans.
0 votes
I am wanting to do simple repairs, mostly cosmetic to make it my own. I want to take it as a learning experience so nothing dramatic!
Flag Tue Sep 24, 2013
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