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Buying Fixer-Upper Real Estate in Tempe Arizona
- Real Estate Relocation
When you first start looking for homes in Tempe Arizona you may find some “steals” on the Web. Homes that are advertised as handyman’s specials. It is very important to look at the neighborhood when looking at these houses. If the homes surrounding the house in question are well maintained and it is a nice neighborhood, then you should calculate what it will take to improve the home to a comparable standard. If the cost of the fixer-upper and the cost of the home improvements is still under the median cost of other houses in the neighborhood and you have the skills or the cash to do the repairs, then buying a fixer-upper might be a good investment. You can then make the house into your home!
However, beware of homes that are extremely cheap in neighborhoods that are in a decline. The home’s price may be not only a reflection of the condition of the house, but of the declining neighborhood. This is where a Tempe Real Estate agent who is an expert in Relocation to Tempe Arizona can help you evaluate whether the purchase will be a sensible investment for you. Click on the FREE “Relocation to Tempe Arizona” real estate information package. One of our Tempe Arizona Real Estate agents will contact you to help with your relocation to Tempe Arizona.
Whatever you do, if you are considering buying a fixer-upper home, make sure you have it inspected by a qualified home inspector. Place a contingency clause in the contract subject to approval by you of improvement estimates. Repairs that you guess may take $10,000 may end up costing twice that! Make sure that before you close you have the necessary skills and assets to turn the house into a home within your budget! Click on the link above and our New Quest City Tempe Real Estate agent can help you with your relocation to Tempe Arizona by providing guidance and expert advice on every process of the purchase.
FINANCING A FIXER-UPPER. Some mortgage lenders will allow you to close on the home with a construction loan and then place permanent financing on the home as soon as the repairs are made. This gives you the freedom to put your cash down on the home to benefit from reducing or eliminating Private Mortgage Insurance without having to come up with additional cash to do the improvements. Your New Quest City Tempe Arizona Relocation Realtor can help you find a local mortgage company that can help you with a construction loan.
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Tempe (pronounced /t?m.pi?'/) is a city in Maricopa County, Arizona, USA, with a 2005 population estimate of 165,796 according to the mid-decade Census survey. Darrell Duppa is usually credited with suggesting the name, adopted in 1879, after comparing the Salt River valley near a 300-foot-tall butte, to the Vale of Tempe near Mount Olympus in Greece. Duppa also had the honor of giving name to Phoenix, 11 years earlier. Tempe is a major suburb of Phoenix and is located immediately southeast. The upscale suburb of Scottsdale is immediately to the north of Tempe. Tempe is the location of the head offices of US Airways (formerly America West Airlines) and the main campus of Arizona State University. It was the longtime host of the Fiesta Bowl, although the BCS game will move to Glendale in 2007. On New Year's Eve, the city hosts the Tostitos Fiesta Bowl Block Party, one of the nation's largest New Year's Eve parties. -- Source: Wikipedia.com
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Census Data for Tempe, Arizona
| Tempe | Arizona | United States | |
| Population | 158,625 | 5,130,632 | 281,421,906 |
| Median age | 28.8 | 34.2 | 35.3 |
| Median age for Male | 28.3 | 32.9 | 34 |
| Median age for Female | 29.6 | 35.5 | 36.5 |
| Households | 63,602 | 1,901,327 | 105,480,101 |
| Household population | 153,383 | 5,020,782 | 273,643,273 |
| Average household size | 2.41 | 2.64 | 2.59 |
| Families | 33,654 | 1,287,367 | 71,787,347 |
| Average family size | 3.05 | 3.18 | 3.14 |
| Housing units | 67,068 | 2,189,189 | 115,904,641 |
| Occupied units | 63,602 | 1,901,327 | 105,480,101 |
| Vacant units | 3,466 | 287,862 | 10,424,540 |
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