Saying goodbye to your current home and preparing to move to a new state is exciting yet intensive. Between finding a new home in a new city, preparing to start a new job with a new employer, and packing up in time for the moving truck, you may feel a bit overwhelmed at all there is to do. Living in Hawaii can be a great experience if you are seeking the tranquility that comes with island living. Before packing up and heading to The Aloha State, it’s important to note the high cost of housing. Hawaii boasts a median home price of $550,000 and a median rent of $2,400, or twice the national median home price.
Many prospective homeowners who are ready to settle down but not able to support a sizeable mortgage are considering fixer-upper homes. It’s a smart way to invest in real estate without going too far into debt. A fixer-upper can sell for top-dollar if you make the right renovations to add property value. The key to successfully purchasing a fixer-upper is to buy the right property that has been thoroughly inspected and that you can afford to rehabilitate.
Focus on location.
A great property won’t sell if it’s not in a desirable area. The easiest way to experience buyer’s remorse is to purchase a fixer-upper without getting a feel for the location or checking on local property values. It’s a good idea to work with a professional real estate agent who can help you find an ideal property within your price range in a desirable neighborhood. When you are exploring a new area, pay attention to things like crime statistics, proximity to amenities, the school district, and whether your renovation plans will make sense for the neighborhood.
Get the right inspections.
Once you find a fixer-upper that you want to make an offer on, you need to have a professional home inspector examine the property. Your real estate agent should have contacts and can arrange to have a home inspection done. Never make an offer without having the overall structure of the home, the foundation, crawlspace, and insulation inspected. The more major repairs a property needs, the more negotiating power you have as a buyer.
The best way to keep your major appliances in peak condition is to keep them maintained. Even the most well-cared-for appliances need repairs, and you’ll want the best appliance repair in Oahu when the time comes. Honolulu Appliance Repair has years of experience offering fast, affordable, and professional appliance repair services. The company is known for outstanding customer service and expert technicians who can service kitchen and laundry appliances from all major brands. They offer a same-day refrigerator, washer, dryer, dishwasher, stove, oven, freezer, ice maker, and AC repair on major brands including Bosch, Maytag, LG, GE, Kenmore, and Frigidaire.
Price the costs of renovations.
You need to have a contractor do a walk-through of the property and provide a cost estimate on the work to be done. It’s a good idea to add an extra 10 to 20 percent to the estimate to cover unforeseen problems. You’ll need to speak with the local officials about necessary building permits and costs. A contractor can arrange for any necessary permits and deal with the hassle of extra work. Be sure to compare estimates from multiple contractors.
In addition to finding the best deal on a new home, you also need to factor in the costs of relocating to a new state. Preparing for a long-distance move can be a stressful time. You have to sell your old home, purchase a new home, pack up your belongings, and manage the logistics of the moving process. Terrie Cox, RE/MAX Equity Group offers her best relocation tips to simplify the relocation process. If you are relocating for a new job, ask if your new employer offers relocation assistance. Schedule a free donation pickup of all the clutter you won’t be taking. Get ready for moving day by packing a suitcase with all the necessities and toiletries you’ll need for the first night in your new home.
Keep these tips in mind when looking for a fixer-upper in Hawaii.