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Just think: You can snag a rundown place in a good neighborhood or w Just think: You can snag a rundown place in a good neighborhood or way below market price, invest some time and money renovating it, and end up with a like- new house that’s worth at least twice what you paid or it. Sounds good, right? Oen, it is. But buying a xer-upper can be raught with peril. So beore you take the plunge, make sure you have a realistic idea o what you’re getting into. “I people are un- orgiving up ront about assessing the costs o renovation, the value o the property and the neighborhood, and how much money they have, they can come out ahead and buy more house than they otherwise could ever aford,” says Bradley Inman, CEO o HomeGain. com, a real estate sales and inorma- tion Web site. With that in mind, here’s what it takes to make the purchase o a xer-upper pay of. a realistic idea o w“I people are unorgiving up ront Home Improvement Project 1. Updating plumbing and Electrical 2. Bathroom Remodel 3. Kitchen Remodel 4. Painting 5. Flooring 6. Outdoor Maintenence 7. Deck 8. Basement Remodel 9. Replace Windows/Doors 10. Roof Replacement Return on Invest- ment 260% 168% 168% 112% 102% 83% 78% 75% 70% 67% [should you buy a fixer upper?] [top 10 projects] [easy upgrades to slash energy costs] Plugging up the leaks that allow cold air to slip into your house—and drive up your heating bills—is an im- portant rst step in creating an ener- gy-ecient home. Such leaks are oen ound around doors and windows, but they also can be in your basement or attic. Adding insu- lation can help keep your home comort- able all year round. “It turns out that about hal o the homes in the United States are underin- sulated,” says Kateri Another way to cut energy costs is a programmable thermostat. Tese devices “save about 10 percent on your heating bills and your cooling bills in the summer, so they pay or them- selves literally in a matter o months,” says Kateri Calla- han, president o the Alliance to Save Energy clean gutters...insulate attic...test your urnace...check/re- pair air ducts...wrap pipes...check smoke alarms/carbon monoxide detectors...reverse ceiling ans [winterization tips]
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