Buying a fixer-upper home can be very intriguing if you are a handy person or love old-style homes. These kinds of homes go for below market value due to their condition/age, and you can invest your time and money into making it exactly how you want. Below is our guide to buying a fixer-upper home.
Prepare to be Disrupted During Renovations
Whether the renovations are small or large, there will be disruptions and inconveniences while they progress. Be ready to change your lifestyle for the duration of the renovations: are you ready to live in the home as it is being renovated? Can you live with one less bathroom or a complete kitchen while they are being renovated? Living under these conditions can be a deal breaker if you are working from home or have young children. Be sure to take these things into consideration.
Prioritize Projects
The best fixer-uppers are the ones that require just cosmetic upgrades such as paint, drywall repairs and refinishing of the floors. Most fixer-uppers are going to require much larger projects such as renovating the kitchen, and bathroom, or even adding a complete addition to the home. Prioritizing the projects that need to be done before you move in as opposed to what projects can be done while you live there will make your life much simpler.
You Can Do-It-Yourself
There are many projects that you can take on and tackle on your own when it comes to fixer-uppers. With some YouTube and a lot of hard work, you will be able to learn how to do tasks such as painting, laying down flooring, drywall repairs etc. On the other hand, if this isn’t something you can do then be prepared to spend a lot of time and money on contractors which will take up your whole budget and potentially be delayed.
When to Hire a Pro
They are many tasks in a fixer-upper that you can do alone, and we believe in you but there are some jobs that are better left to the professionals. These include plumbing, and electricity at the very least as making mistakes with these two can result in being in a worse position than you started in having wasted a lot of time and money, not to mention the fact that it is also extremely dangerous. Know what you can and cannot do and hire a professional when needed.
Invest in Quality and Comfort
If you’re going to fix up your home, do it right and take the time to plan around the beautiful focal points, invest in quality pieces, and invest in quality materials. Quality is a big one, it can cost you more later on if the hardware breaks or tools are not right for the job. Remember to always order more materials, as it is better to have more left over than to run out and not be able to get the same color of paint or flooring to match the original.
Each fixer-upper has its own challenges and that’s what makes this a beautiful journey. Enjoy it.
