You've found the perfect fixer-upper and can already picture the transformation, a fresh coat of paint here, a stylish upgrade there. For many home buyers, this vision is incredibly appealing, especially with home renovation shows and social media glamorizing the idea of turning a dated property into a dream home. But the reality can be far less romantic. Without careful planning and a clear understanding of the costs and challenges involved, that charming fixer-upper could quickly become a never-ending money pit instead of the ideal home you imagined.
How do you know the property is the one?
It goes without saying that a fixer-upper will have some maintenance issues. However, it shouldn't be major items such as the foundation, roof, sewer, or electrical work.
Work that needs to be done on the property should be categorized into things that you could improve with a coat of paint, some cleaning, or more minor upgrades to the bathroom or kitchen.
The logic behind this is that if the house is in decent condition, then you can allocate your budget to improvements and not repairs. It could be the reason behind getting a high-end gas stove installed instead of settling for a cheaper stove to stay within budget.
4 Red flags you need to keep an eye out for when buying a fixer-upper
1. Water Damage
Take your time when viewing the property to really check for water damage. Look for water stains on the ceilings and around the interior baseboards and trims of the home.
Any swelling in the walls is a sign of serious trouble. Swelling or buckling of your walls means that the wood or drywall has absorbed quite a lot of water, especially if you can visibly see the effect. This can be the effect of continuous absorption from a minor leak or the effect of a storm or flooding.
If you can smell damp and mildew, you know that there is water damage that might not be visible.
Depending on how long this has been occurring, rot and structural damage can result. Mold is another big concern with water damage, not least for its health implications, but also because it can be costly to remediate.
2. Structural Issues
Foundations can be expensive to fix, which is why it’s important to look for any signs of structural damage — sloping floors, cracks in the ceiling, and windows and doors that won’t open or close properly.
This is where you will need the help of a professional. If you spot cracks in the wall, it is best to call in a home inspector who will be able to help identify if the minor damages are from the home settling on its foundation over time or if there are major structural issues.
Here is what you need to know about home inspections in South Africa
3. Roofing issues
Not every house will have a brand-new roof, but it should be in decent condition. Roofs are an item that costs thousands to replace, and if it hasn’t been maintained, they can result in issues down the road. Most shingle roofs have a lifespan of around 20 years, so it is imperative that you find out the age of the roof before buying the house.
4. Electrical or Plumbing that isn't compliant
If the home has been standing empty for a long time, your best bet would be to have electricians and plumbers come out and do an inspection for you. If the cost of replacing items is too high, you could always negotiate a better price on the property, but you will also be armed to make a better assessment of whether or not you have the funds available to take the leap.
In newer homes, you should ask for the compliance certificates of the electrical work and plumbing to avoid costly issues later on. Here is what you need to know about compliance certificates.
