When you are looking to buy a home that is considered to be a fixer upper, there is one issue that should concern you more than anything else. That is, of course, the location of the fixer upper.
No matter how spectacular the house appears after it is renovated and remodeled, if your home is not in a good location then it will always sell for much below what it should because few people will want to live in that particular location.
Focus Your Options
When choosing a home, especially a fixer upper, narrow your choice down to a location in which the home can easily be resold, even if it is years later. You want something convenient for people to drive to, is safe to live, and near conveniences that might interest typical potential buyers.
These types of homes are easier to resell, and will do so at a much higher price if they are located in what people perceive to be a great neighborhood.
Consider Your Individual Tastes
Depending whether you are fixing up the home strictly as an investment or you are planning to live there long term, take into account your own personal preferences when selecting a location. If in fact you want to live outside a major city, you still will need to live close enough to go back and forth quickly without undo strain on your time and vehicle.
Look for Conveniences Close By
If you are strictly buying as an investment, as stated above it is important to have some amenities, businesses, and schools nearby for people who are looking for those types of conveniences. People generally prefer more developed cities, so this ought to be a factor if you are looking at your home for possible resale value. Although you may not personally want to live downtown, you still need proximity to most preferences that are normally important to people.
These include proximity to major highways. If you are so far off the beaten path that people don t even want to venture out to see the house at all, then you are too far away for the home to have a realistic high resale value.
That being said, don t go to the other extreme and purchase in a location that is far too crowded. Privacy from neighbors and quiet streets are great selling points as well. People enjoy their privacy, even if they want it nearby to malls, schools, and hospitals.
Health Considerations
Lastly, look at the health concerns existing in certain neighborhoods. By no means should you buy a home that is close to health hazards such as chemical plants, power plants, or polluted areas. People more often than not will not buy near these types of risks regardless of how much you convince them they are safe.
Whether for resale or for your own purposes, the value of a fixer upper will only be as profitable as the neighborhood allows it to be. So be wise and buy in a great, already established, and prominent neighborhood.
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