6701 Harrison Lane, Alexandria, VA 22306 (Perfect Fixer Upper)

Looking for the perfect fixer upper? Look no further. 6701 Harrison Lane in Alexandria is a home with great bones, but needs some updating to the interior. Home features a fantastic yard with a lot of possibilities. Give me a call for more details.

Hi this is russell arkin and i am here in the backyard of 6701 harrison lane down in the mount vernon area of alexandria and wanted to talk today for just a second about this home and first the executor is because this is an estate property came to me because of my background in handling the sale of homes that are in estates and they wanted me to handle the sale

And marketing of this home this home has a great example of good bones how home appears to be in good structural shape and it meets the criteria for sure of a fixer-upper i got a lot of people coming to me asking for fixer uppers and this is one where you could really go to town and create something terrific we’re now standing in the backyard of this home which

Is big and deep it’s probably about a half an acre standing in front of the honeysuckle bushes but you could do lots of things back here you could have vegetable gardens you can have flower gardens hardscaping decks patios and it’s private oasis and the other thing i would say to you normally is this home at a great price one of the six least expensive homes in

The entirety of fairfax county but it’s really hard to find a home that is so cheap with such a great love so i’m standing here in the kitchen of a home that clearly needs some work and i used to be a builder for many years a lot of homes also renovated a ton of homes and so i thought the people they often ask me about how do i go about renovating a home it’s

A little bit less straightforward and more complicated than just buying a home that’s in great shape you need to find a really good competent contractor which sometimes is not the easiest thing and then you need to put together a budget because it’s really not apparent on the face of things what renovation costs are so you need to come up with a renovation plan

If you’re moving around that walls you may need to speak with an architect and once you have plans and once you have a set of finished specifications like what kind of cabinets what kind of appliances what are you going to put on the floors what vanities and vanity tops in the bathrooms what kind of tile after that you can have a pretty good idea of what it’s

Going to cost to renovate a home the other thing the next thing you want to think about when you are putting together a plan to renovate a home in its financing their humble ways to go up as one is you can get a loan from the fha financing administration called a 203k loan and that one gives you money both to purchase the home and then they reserve an additional

Amount for the closet renovation it works kind of like you’re building a home and you have a lot of credit so you submit plans to the fha with a budget and the name of a contractor and then as you build the home in a progression of construction the fha advances money to you the planet as the construction and then when it’s all said and done the original purchase

Price plus your cost of renovation get drilled over into one permanent loan the second way of course you can go about this is if you have enough money in your piggy bank to finance it yourself so keep in mind when you’re thinking about the project in total you need money for the down payment that can be as little as three or three and a half percent and you need

Money for closing costs of us sometimes we can get the seller of the home to pick up park for closing costs and then heat enough money in your resources to pay for the entire projects there are some times for first-time buyers and this is the kind of home that might attract a first-time buyer and you may need to have more money and back so maybe an fha loan

Might be a better way to proceed on a project like this unless you’re going to do it a little bit at a time they’ve got a kitchen first then think about the bathrooms and then a lot of my past clients and people i’m talking to at present come to me because i’ve done this before so i have the experience in terms of helping you be able to find great contractors

Have the experience in helping you put the financing together for this and i have the experience because i’ve renovated homes as recently as a year ago in terms of what sorts of finishes you may want to think about places you can go to find cabinets countertops bathroom tile everything you’ll need for the home so it’s something that’s right up my alley something

I’ve been doing a long time and i’d be really thrilled to share that expertise for you

Transcribed from video
6701 Harrison Lane, Alexandria, VA 22306 (Perfect Fixer Upper) By The Russell Arkin Group