Buying A Fixer-Upper? Here’s Where To Start!

 7911 S. Claiborne Avenue, Listed By Kelleye Rhein 

Buying a fixer-upper home is a high-reward investment. These 10 tasks should be the first items on your to-do list when renovating your fixer-upper house.

1. Safety Inspection

First and foremost, you need to determine the extent of the house’s damage. Bring in a contractor to help you identify the structural and cosmetic issues that need repairs. Determine which problems you can fix yourself and which ones require professional assistance.

Look for signs of storm damage, such as broken gutters and roof leaks. New Orleans sits in the heart of the United States’ high-risk hurricane zone and gets a handful of tropical storms yearly. However, most NOLA residents compensate by having special architectural shingles, weathertight window seals and other small precautionary features. Homes with these details will be more valuable and easier to renovate.

2. ARV Estimation

After assessing the house’s condition, estimate its after-renovation value (ARV). Assuming the damage isn’t too significant, a fixer-upper home’s ARV is usually in the same ballpark as comparable homes in the area. Look at other New Orleans houses with the same number of bedrooms, bathrooms, square footage and other features that impact its resale value.

Comparable homes must meet a few essential criteria. They must be in the same geographic area, which can vary widely in New Orleans. Waterfront properties are valued much differently than properties farther inland. Comparable homes also have to be recent sales. You will get a more accurate ARV estimate if they sold in the last 12 months.

3. Financing

Renovating a fixer-upper is expensive work, whether you take the DIY or professional approach. Get your financing in order with a home improvement loan so you can afford all the projects. These loans have fixed APR rates and long timelines of up to five years, so you’ll have plenty of time to complete the renovations.

4. Curb Appeal

The first remodeling project you should tackle is the exterior facade and landscaping. You need to revive the house’s curb appeal. The home’s outward appearance plays a huge role in increasing its resale value. According to surveys, 83% of buyers’ real estate agents say staging the home helps the buyers visualize living there.

Start by freshening up the main entrance. Power wash the siding and repaint the front door. Spruce it up with a new door knob, floor mat, mailbox and address numbers. These little details add up to significant visual improvements.

Then, move to the yard. Mow the lawn and replant it with warm-season grass seed that will thrive in New Orleans’ humid climate. Pull the weeds from the garden, cover it with landscaping fabric and apply a fresh layer of mulch. Trim the bushes and add flowers to give the area new life and color.

7911 S. Claiborne Avenue, Listed By Kelleye Rhein 

5. HVAC Upgrades

Moving inside, the first item you should fix is the home’s HVAC system. Functional year-round air conditioning is crucial throughout the southern United States. Upgrade the HVAC units and fit them with quality air filters. You should also consider installing ceiling fans to lighten the HVAC system’s load and make the home more comfortable.

6. New Flooring

Replacing the floors before moving your furniture and personal belongings in will make your life much easier. Vinyl flooring and porcelain tiles are the best options for tropical climates because of their strong water resistance. You can also make vinyl flooring look like natural hardwood, so it’s incredibly versatile for design purposes.

7. Kitchen Remodel

A kitchen remodel is an expensive but necessary project. It’s the most important room aside from the main bedroom, so a successful renovation will work wonders for the house’s resale value. Replace the oven and microwave. Refurbish the cabinets and install new marble or granite countertops. Add a water filtration system to the sink to get pure tap water.

8. Fresh Interior Paint

Switching to a fresh interior paint color is an effective, low-cost way to rejuvenate the house’s appearance. Give the walls, doors and cabinets a clean slate. Homes in metropolitan New Orleans often have bold color schemes that reflect the city’s culture and character, so don’t be afraid to get creative.

9. Window Replacements

Old windows often have drafts and leaks, leading to high utility costs. Replace any problematic windows with vinyl, fiberglass or composite windows. These materials are built to withstand extreme weather conditions — including hurricane-level wind and rain — and keep the house comfortable.

10. New Light Fixtures

The home’s light fixtures need to be bright and stylish. New Orleans is an old city with diverse architecture, so feel free to get creative. Incorporate hanging pendants, standing lamps, recessed lights and mid-century modern styles that contribute to the house’s design and functionality.

7911 S. Claiborne Avenue, Listed By Kelleye Rhein 

You Have to Start Somewhere

Fixer-upper homes have a long list of repairs and renovations. Start with these 10 steps to build momentum for the rest of the renovation, and your fixer-upper will be ready to resale in no time.