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Turn that Fixer-Upper into Your Siesta Key Dream Home
When you live in Siesta Key, it's like a vacation 365 days a year. The days are sunny. The landscape is tropical and it's easy to find a home with an ocean view. Siesta Key homes are exciting and beautiful. They're perfect for retirement or a seaside lifestyle. If you prefer an economical alternative, you can find a fixer-upper and transform it into your dream home.
Our real estate agents know you'll enjoy living in Siesta Key, especially in a home you've renovated to reflect your personal taste and style. Transforming a fixer-upper takes a lot of work, but if you're up to the challenge, you'll be happy with the results. Before you buy, ask yourself a few questions
What does your fixer-upper need to make it livable?
You'll have an inspection after you make your deal and before your closing, but you need professional guidance before you buy. Hire a home remodeling pro to accompany you on a walk-through. Get an opinion on what needs to be done and ask for a ballpark estimate. A home remodeling expert has the vision and the experience to see conditions you might miss.
Can you afford it?
Once you know your home purchase price and the cost of repairs, you'll have the figures to help analyze affordability. Run your costs through a mortgagecalculator.org to determine your monthly mortgage payment. Add to that the costs of anticipated monthly repair expenditures or the cost of a home renovation loan.
Will your fixer-upper qualify for a mortgage?
Ask your lender about an FHA 203(k) Rehabilitation Loan. It's an FHA backed mortgage for buyers who purchase a home with the intent of fixing it up. The lender finances the purchase price and the renovation costs in a single step.
DIY or Pro?
Once you have your home remodeling expert's to-do list, you can make informed decisions about what you can do and what you should leave to a pro. Before you decide, remember, if your home requires serious repairs, you'll need additional labor, the right equipment, remodeling materials, and supplies. You might also need special tools and a truck to haul everything to and from your property.
Your project may require local building permits and contractor's insurance. If you're comfortable with these responsibilities, great. If not, consider hiring a pro to help you oversee your project.
Getting it done
After you buy your home, you'll need a plan to keep your renovations on track. Assuming you figured out what your home needed before you made the deal, now is the time to get organized and get it done.
Before you move in
You shouldn't try to do all the repairs and upgrades before you move in, but your home should at least be livable. As soon as you receive your keys, begin work on the heavy repairs.
- Plumbing, AC, Heating, and electrical system repairs
- Floor sanding, polishing, and refinishing
- Windows, doors, and other exterior installations and remodels
- Any structural repairs
After you move in
Complete cosmetic and style upgrades after you move in. You'll save on the cost of alternate living arrangements. You can take your time getting the work done and you can make renovation and decorating decisions at your leisure.
- Wall and trim painting
- Lighting upgrades
- Window treatments
- Built-ins
- Appliance upgrades
- Landscaping
Your Siesta Key Real Estate Experts
If you're up for the adventure of transforming a fixer-upper into a dream home, our real estate professionals can help. Contact Wagner Realty for information on buying or selling homes in Siesta Key or for more home buying opportunities in the communities we serve.
