Buying gutted homes for sale in Chicago; here’s what to look for.

Buying gutted homes for sale in Chicago is not only cheaper but can also open up opportunities. Buying a gutted home also prevents surprises associated with rehab houses.

When buying gutted homes for sale in Chicago it is important to understand two things. What is a gutted home and what is a distressed home?

Chicago has thousands of distressed homes for sale. Many date back 100+ years. Aesthetically they are beautiful. But what hides behind walls isn’t always as simple as a few coats of paint and new siding. A distressed home is a broad term used for a house that is neglected or has been abandoned or vacant for some time. This results in problems. Outdated electrical, plumbing, critters, and other issues. However, with the right tools, mindset, and handyman-know-how a distressed home can bring history to life. 

Gutted homes for sale

A gutted home for sale in Chicago is one in which either you or a previous rehabber has generally left the outside of the home untouched to preserve its past, but the inside of the home, minus retaining features, has been gutted. Contractors remove walls from the studs. Rehabbers often remove carpet, tile, and other floorings. No plumbing, HVAC, nor electrical.

A gutted home preserves the exterior aesthetic many homebuyers are searching for, yet modernizes the interior. This is done for several reasons, however, a common reason is  to create a more open appearance, popular in today’s designs. Another reason is to create more bathrooms. Older homes rarely have more than a single bathroom, even with 4+ bedrooms, one bathroom is common. Then again, sometimes, it is just easier to start with a clean slate that will allow you to create the floor plan you want rather than be allocated to certain dimensions. 

Whether you plan on gutting a Chicago house yourself, or are in the market to buy a gutted house for sale in Chicago’s southside or westside neighborhoods, here are four things to look at before your purchase. 

Does the fixer-upper have enough space for your needs?

Space is the most important factor to getting your needs met. For example, you might want to turn a gutted home into a 5-bed, 3-bath with a large kitchen. But is 1,000 sq. ft. enough space? Measure a house wrong and you might discover you can’t fit a shower in a bathroom. Think we’re joking? Stuff like this happens all the time. Be realistic about your space and design accordingly. 

Is the distressed property structurally sound?

The house may be gutted, but that doesn’t mean all structural issues are staring you in the face. If you are buying a Chicago house that has been already gutted find out why it wasn’t finished. Some businesses, gut houses to sell to rehabbers. Others gut houses and find there is a structural issue too costly for them to fix. This is especially so if you are a new flipper. Take the time to examine the basement, outside foundation, and any areas that may be hidden from a cursory walk-through. 

What do home buyers want in a rehabbed home for sale?

Chicago’s southside and westside have great neighborhoods. Think Canaryville, South Chicago, Englewood, and West Pullman. Unique history, local amenities, and personality are hallmarks of these neighborhoods. Take the time to walk through other rehab projects to see which house amenities are being added, the number of bedrooms, and whether the space is open or traditional to the houses time period. 

Windy City Cash Buyers is Chicago’s most trusted distressed home seller in Cook County, IL. We provide owner-financed, contract for deed properties that can be purchased with low money down and affordable monthly payments. We are your go-to house sellers when you want to know how to buy a house with bad credit and low income in Chicago. 

Contact Windy City Cash Buyers today if you are buying gutted homes for sale in Chicago.