Home design magazines and channels like HGTV have made buying ramshackle homes look like something everyone should do. But are fixer uppers right for everyone? Should you take on a home that needs lots of love and potentially expensive work?
The answers depend on the home you’re looking at and your personal situation. Read on to see if a home that needs work is right for you.
- Is it really a great price? Seeing that incredible price tag can feel like you’ve stumbled upon something amazing. But is the price actually fair? Are you paying more than the home is truly worth? Even if the home is going to be sold “as is” which is often the case in some of the most run-down fixer uppers, book inspectors to take a hard look at the home to see if it’s worth the asking price.
- Are you prepared financially? Anyone who has ever undergone a renovation can tell you that the prices quoted are rarely what you end up paying in the end. Budget accordingly to ensure your dream renovations are truly doable.
- Is the home in a location you love? A crummy home in a fabulous location is the sweet spot for fixer uppers. If you find a place that’s perfect for your family, it’s a great idea to make the move. But if the home is subpar and isn’t in the best location, it might be a good idea to move on.
- Is the home livable? Will you need to live in a second location during renovations? Your new home could only need cosmetic changes or it could need to be completely gutted due to unsafe conditions. It’s important to factor in your living situation for the time being. If you ’re selling your current home, where will you live in the meantime? Living costs could add a good bit to your final costs.
- How are the bones? Not only cosmetically, because we all know that old homes can have some charming bones, but structurally. Is the home secure? Is it going to need help to upgrade joists and other elements? Are the floors and studs sturdy? Have a professional assess the situation to be sure.
- How handy are you? Are you thinking you could do the work yourself? Are you truly capable? Ask yourself the hard questions to determine if it’s a good idea. Many fixer uppers could just use paint or other cosmetic changes. But are you capable of handling things like wiring and plumbing? Budget for these things accordingly.
- Do you have the patience it takes? It’s going to take some serious patience to make a fixer upper into the perfect home for you and your family. The end products are undeniably great, but do you have what it takes? Many times it can take several months or more to renovate a home. Are you comfortable with living in transit? Home renovations are agreed to be one of the most stressful things a family can do. Make sure you have what it takes! Be honest with yourself and your family to decide if this is truly a good move.
There’s a ton that goes into making a fixer upper into a gorgeous custom home that you can be proud of. Take some of these questions into account before moving forward on a fixer upper. Many homeowners find that these homes are a great way to find the perfect home, but it’s important that you go in with full knowledge of what it takes.
Have you purchased a fixer upper? What advice would you give buyers looking into a home that needs some work?
Photo by pixabay on Pexels.com