Ignite FB Tracking PixelWhat to Ask About When Buying a Fixer-Upper - Mac Chinsomboon

What to Ask About When Buying a Fixer-Upper

by Mac Chinsomboon 07/20/2021

Photo by Michael Jarmoluk via Pixabay

When you’re shopping for a new home, the prospect of a fixer-upper being on the market for an unbeatable price sounds great! There are a few things that should be on your checklist to make sure that the juice is worth the squeeze when purchasing a home. A fixer-upper that needs mainly aesthetic repair is usually a good deal. Just make sure you ask your real estate agent or the property owner about some costly, but necessary, repairs.

Foundation

First off, any home that is worth its weight in gold needs to have a good foundation. Foundation issues can be quite expensive, depending on the type of repair needed. For example, all houses will settle over time. It’s only natural. But if your prospective home has settled too much it can lead to slab leaks, cracks and serious structural issues; which may lead to expensive repairs. 

Water

Plumbing issues can range from a minor leak in the faucet to a cracked supply or drain line, which can either be a slight nuisance or a major flooding issue (and flood damage is not a cheap fix on its own). Along with the immediate cost of the plumbing repairs themselves, plumbing problems can cause higher monthly water bills.

Electrical

Electrical issues can not only be costly to repair but very unsafe. If you are shopping for a home, make sure to check with the homeowner or agent about the quality of wiring, electrical sockets, etc. to avoid both the costly repairs.

Remember, when shopping for that great fixer-upper in your new neighborhood make sure to check these three big boxes before choosing your soon-to-be dream home.

About the Author

Mac Chinsomboon

Degrees: BS Engineering, MBA Finance, Juris Doctor.

I'm your typical MIT-trained intellectual - but I also happen to be a top producing real estate broker that has a proven track record of results for my many clients that continue to refer their friends and family. I started in the business as a real estate investor myself. Having the mindset of an investor helps me understand the viewpoint of my clients as home owners, investors, and developers. My engineering background is what I use to determine what works and how to build what works - it's an ethos I live by. Along with my finance and legal backgrounds, they help me balance efficiency, reliable outcomes, return on investment, value, performance, and all with a calculated margin of safety to fully protect those around me.

I've closed hundreds of purchase and sale transactions over the past several years - everything from the lows, to the peaks of the market, and the rebound that we're currently in. This means that I've experienced just about every issue that one could ever expect in a transaction - and how to head it off before it becomes a real or bigger issue. Of course, as with Life, issues will "evolve", and my goals are to try to discover them as best and early as possible, to protect both my buyers and sellers - don't get me wrong, there will still be bumps along the road, but my goal is mitigate and minimize them for you.

Massachusetts Institute of Technology (MIT Sloan), MBA - Finance

University of Colorado - BS Electrical Engineering

Purdue Global - Concord Law School, Juris Doctor

Massachusetts Real Estate Brokers License

National Association of Realtors

Massachusetts Association of Realtors

Boston Association of Realtors