Anchorage Alaska Real Estate: Move-in Ready Versus Fixer Upper
by Dan Wolf
on Monday, October 27th, 2014 at 8:26am.
Buying a fixer-upper home in Anchorage, Alaska may seem like the more affordable option. However, there are a lot of hidden costs to renovating a "vintage" or older home. Before buying a home that needs some work, consider the pros and cons of move-in ready or turnkey Anchorage Alaska real estate versus a “project.” According to an article by U.S. News & World Report, properties in need of serious repairs may cost homeowners more money and time than they realize. The article advises people to consider the location and risks before undertaking a complete home makeover. A lot of people are realizing the benefits of living in beautiful Anchorage, Alaska, where they can find everything from new construction inventory homes, lots for building custom homes as well as resale homes of different ages and architectural styles. Before deciding on a move-in ready versus a fixer upper, talk to an experienced Realtor who knows the area and can advise you on what’s a bargain.
Gauging the fun factor
Experts point out that some fixer upper home just need cosmetic repairs or to be remodeled and updated. It’s fun to pick out the cherry cabinetry and backsplash for a gourmet kitchen remodel. However, it’s not as fun to have to replace plumbing, electrical and other problems hidden behind the walls of vintage homes. Also, if you decide to sell the home later, a prospective buyer will only notice the cosmetic features. Although the behind-the-wall improvements are important, they don’t win over buyers.
Checking out the neighborhood
Another extremely important factor to consider when looking at Anchorage, Alaska real estate is the location of the property. Finding a vintage home in an established and well-respected neighborhood can be a bonus. Even a new construction home can be in a desirable or undesirable neighborhood depending on what’s important to you. A Realtor can fill you in on details about the schools, crime and planned residential and commercial development in a particular location.
Before investing in a fixer upper, do your homework in terms of calculating the costs of making improvements versus the potential resale value. Even if you plan to live in the home for the rest of your life, you need to know whether the various appliances and plumbing will live as long as you.
Whatever you decide on a new home or resale property, you can get in touch with the experts at Wolf Real Estate to make a competitive offer on a home. For more information on Anchorage, Alaska real estate, please contact us at (907) 248-9653 or visit us at "www.anchoragehomesearch.com"