Wednesday, June 29, 2016

What to Know Before Buying a Fixer Upper on Chicago's North Shore

While television shows on HGTV may make it look easy, buying a fixer upper home is not for everyone. There is much more time, dedication, money and labor that goes into bringing a property in need of repair back to life— or back to your standards. As your real estate expert on Chicago's North Shore, I am sharing a few essential things to keep in mind before you seal the deal on a home in need of TLC.

Hire a home inspector
Hiring a home inspector is one of the most important parts of any home purchase, not to mention the purchase of a property that you know will require remodeling. Bring along an inspector to tell you what needs replacing now, what you can replace later and if there are any structural issues that could raise major red flags with your renovation plans. You will thank yourself later for taking this essential step!

Research zoning
Every community—Glencoe, Deerfield, Winnetka, Highland Park, Northbrook and the surrounding areas—has zoning districts and restrictions. Check into these before you purchase a home as your specific plans for the property may not be allowed. For example, buying a historic home in certain areas does not always mean you can replace and renovate as you see fit— the renovations will likely need to follow guidelines to maintain the integrity and history of the property.

Look into tax benefits
It is dependent on the location of the home, but some homeowners who improve their property's value are eligible for tax credits. You may want to look into this before you purchase the home and start construction.

But no matter if your dream home in Winnetka, Highland Park, Northbrook, Glencoe or Deerfield is a fixer upper, move-in ready or new construction, do not hesitate to give me a call! I can help you find the perfect property for your needs and walk you through the process of making it your own!

I look forward to hearing from you!

Janie Bress
Your North Shore Real Estate Expert

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