Whether you are planning to buy a fixer-upper for investment purposes or as a place to call home, doing so can yield a fantastic return on investment (ROI). Of course, this is assuming you can identify what kind of fixer-upper you’re dealing with. An article from Time Magazine by Michael Corbett differentiates the different types of houses you encounter when fixer-upper hunting:
2. The Downright Ugly Fixer
It may be downright ugly, but it is beautiful to you! It has all the right things wrong with it. This is the fixer that needs more extensive repair and remodeling work than the ‘Cosmetic Fixer’ mentioned above. If you can see its potential beauty, and are willing to commit to the work, you will get the deal that others miss.
Some hallmarks of a ‘downright ugly fixer’:
Leaks In The Roof & A Water-Stained Ceiling: These can really turn away potential buyers – but you will most likely be putting on a new roof, so that will usually eliminate the source of the problem
If the home you’re looking at falls under the “downright ugly fixer” category, make sure you thoroughly inspect the entirety of the house before committing to buy it. In particular, pay close attention to its roof. According to Menlo Park, CA roofing contractors, the following signs indicate that the house needs an entirely new roof before anyone can move in:
Age of the Roof
Ask the real estate agent how old the roof is, as the age of a roof is often a good indicator of whether it needs to be replaced or not. In general, most shingle and wooden roofs will last about 20 years. However, don’t forget that these homes haven’t been taken care of in a while, effectively shortening the lifespan of the roof.
Sagging Roof Deck
Take a tour of the attic and look at the ceiling. Do you notice any sagging sections? If yes, this is a classic sign that reroofing is in order. Failure to resolve this issue can result in the roof caving in.
Sand in the Gutters
This is a sign that is exclusive to asphalt roofs. If you notice a build-up of sand-like granules in the gutter, it means the asphalt shingles have lost the coat that protects your home from UV rays. In such cases, you’ll need to have all the shingles replaced.
Don’t let roofing problems scare you away, especially if the roof is the only problem the fixer-upper has. In such cases, expert Menlo Park or Palo Alto, CA roofing contractors like Shelton Roofing can help restore a roof to its former glory.
(Source: How to Tell the Fixer-Uppers From the Flops; Time Magazine; August 6, 2014)