What are the most expensive improvements a fixer-upper might need?

What are the most expensive improvements a fixer-upper might need?

Michael Corbett (Real Estate Expert) gives expert video advice on: What is a "fixer-upper" property?; How much work goes into selling a fixer-upper at a profit?; What are some common mistakes people make when buying fixer-uppers to develop? and more...

When you are fixing up a property, one of the big chunks of your money is going to go to the kitchen. That is generally where the biggest improvement takes place, because you've got appliances, you've got cabinetry, you've got countertops and you've got plumbing and sinks and all of those elements. That is generally where a big chunk of your budget goes. Another big chunk usually goes to the roof or upgrading the electrical or the plumbing. Those are some of what we call the “big tip” of items when you're renovating.