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Buying Fixer-Upper Real Estate in Bellingham Washington
- Real Estate Relocation
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When you first start looking for homes in Bellingham Washington 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 Bellingham Real Estate agent who is an expert in Relocation to Bellingham Washington can help you evaluate whether the purchase will be a sensible investment for you. Click on the FREE “Relocation to Bellingham Washington” real estate information package. One of our Bellingham Washington Real Estate agents will contact you to help with your relocation to Bellingham Washington.
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 Bellingham Real Estate agent can help you with your relocation to Bellingham Washington 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 Bellingham Washington Relocation Realtor can help you find a local mortgage company that can help you with a construction loan.
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Bellingham, Washington is the county seat of Whatcom County in the U.S. state of Washington. It is the largest city in Whatcom County and tenth largest in Washington. It is situated on Bellingham Bay, which is protected by Lummi Island, Portage Island, and the Lummi Peninsula, and opens onto the Strait of Georgia. It lies west of Mount Baker and Lake Whatcom (from which it gets its drinking water) and north of the Chuckanut Mountains and Skagit Valley. Whatcom Creek runs through the center of the city. Census Bureau estimate placed Bellingham's 2003 population at 71,289, and a recent calculation pushes it to 74,770. Bellingham has recently experienced an increase in real estate prices. As of Spring 2007, real estate prices seem to be leveling out as the market decreases. The boundaries of the city encompass the former towns of Fairhaven (now home to the southern ferry terminus of the Alaska Marine Highway System), New Whatcom, and others. -- Source: Wikipedia.com
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Census Data for Bellingham, Washington
| Bellingham | Washington | United States | |
| Population | 67,171 | 5,894,121 | 281,421,906 |
| Median age | 30.4 | 35.3 | 35.3 |
| Median age for Male | 29.5 | 34.4 | 34 |
| Median age for Female | 31.4 | 36.3 | 36.5 |
| Households | 27,999 | 2,271,398 | 105,480,101 |
| Household population | 62,578 | 5,757,739 | 273,643,273 |
| Average household size | 2.24 | 2.53 | 2.59 |
| Families | 13,990 | 1,499,127 | 71,787,347 |
| Average family size | 2.83 | 3.07 | 3.14 |
| Housing units | 29,474 | 2,451,075 | 115,904,641 |
| Occupied units | 27,999 | 2,271,398 | 105,480,101 |
| Vacant units | 1,475 | 179,677 | 10,424,540 |
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