Buying a fixer upper can be a great way to get a property for less than the price of surrounding homes. However, it can be an intimidating undertaking with a lot of unknowns. To avoid unpleasant surprises that drain your wallet, it is key to have it properly evaluated before signing on the dotted line. Choosing the “right” fixer upper makes all the difference. Decide early on how much your budget, and patience, will allow.
Fixer Upper Flaws that Can Break Your Budget
Foundation, structural and roofing issues are just a few items that have a big price tag. Go into the project with open eyes. By partnering with a knowledgeable agent, you will have access to experts who can properly assess the property.
Additionally, replacing major systems like heating, ventilation and air conditioning can be costly. Issues like mold can be resolved but can also come back over time.
Consider the Location & Layout
Evaluate the potential of the fixer upper you are looking at. One of the most important factors is location. It should be just as desirable as a home that is in perfect shape. Seek out project homes in sought after areas. Check out neighboring homes to see if they are in good condition.
Continue reading Top 5 Tips for Buying a Fixer Upper
For local residents, the Oakland bypass is a somewhat controversial subject. It was previously proposed in the 1990s. Officials are considering the Oakland bypass again. It would re-route traffic to avoid the historic downtown area. The project was in limbo for years due to state funding issues.
About the oakland bypass
The Maryland State Highway Administration and Maryland Department of Transportation (MDOT) have estimated the construction cost at $53 million. A 2.4 mile stretch of highway would re-route traffic from the downtown area to reduce congestion. Continue reading Oakland Bypass Update
homeowner’s tax reform quick guide
This homeowner’s tax reform quick guide will focus on the biggest real estate oriented tax polices that were recently enacted. The new tax law is known as the Tax Cuts and Jobs Act. It may change how buyers see homeownership incentives.
Here is a brief rundown of some of the most noteworthy real estate-related tax policies and how they may affect homeowners.
New SALT Deduction Limit
SALT stands for “state and local taxes”. In the past, taxpayers could deduct what they pay in state and local property, income, and sales taxes from their federal returns. It was unlimited. The new law caps any combination of these deductions at $10,000. Continue reading Homeowner’s Tax Reform Quick Guide
Home winterization is on the minds of many of my sellers in the Deep Creek Lake are this time of year. I put together my top tips for home winterization to be sure you are ready when Old Man Winter knocks at the door.
prevent frozen pipes
Home winterization starts with protecting your pipes and water system. Avoid costly water damage that can occur from freezing pipes. A plumber will check everything and get it ready it for cold temperatures. Water should be drained from places where it is stored, like water heaters and hot tubs.
Once the water is drained, you won’t need to keep the heat turned up. Your pipes are safe and you will have lower utility costs.
check the gutters for leaks & debris
If water collects and freezes, your gutters could be damaged. The weight can pull them off of the house. Also, this could cause water to collect around your foundation. Most home owners know, that is never a good thing. Clean them out and seal up any leaks that you find. Continue reading Home Winterization Tips for Deep Creek Home Sales