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Whether you're buying your first home or 5th home. Deciding on whether you want a fixer-upper or ready to move in home is something you need to talk about with your spouse or partner immediately.
When we first started looking for our home we touched on possibly looking into a minor fixer-upper vs something that is more ready to move into. With the loan we were looking into, we couldn't get a home that needed to be fixed up, other than super minor things like switching out locks, painting, etc. Anything like new flooring, replacing walls, new counters or cabinets, couldn't be needed.
While we were kind of disappointed, we were also relieved. We could spend whatever money we saved up on paint, moving, furniture, etc. It's been almost 2 years now since we moved into our home and while there are things we haven't had either broken down or needing to be fixed, we haven't had to do overhauls, which is something we can't really afford right now.
Fixer-Upper: 3 Easy Ways to Handle Home Remodels
Most people find remodeling a home particularly tough. If you've recently moved into a property and it's a bit of a fixer-upper it can prove to be somewhat overwhelming. But if you want to add value to your home or make it a more welcoming place, fixing it up can be the only option. But what do you need to know in order to cope with the fixer-upper process?
Are You Going To Live There While Fixing It Up?
Living in the property may be your only option due to your finances, but generally speaking remodeling a home is going to be easier if you don't live there. If you are bringing residential architects to renovate key areas of the home you may very well feel that it's best to get away from the place. Living in the property can prove to be quite stressful. But if you decide to do this it's a better approach for you to fix one area at a time.
If you are hiring contractors to “gut” the home it is important to stagger the work. Fixer-upper homes can be frustrating if you're living in the home while they are being renovated, especially if there is a lot going on at once. When you stagger the work, it gives a slight or significant break in between projects. You may want to do 1-2 bedrooms or 1 bathroom while still having access to a 2nd bathroom. I suggest that the kitchen be either the first or the last project if you are doing a whole home renovation. It's often the most use room and if it's the top on the fixer-upper list, it needs the most attention.
Making Sure You Plan Everything Properly
Ensuring that you keep your cool during the process is predominantly about preparation. When you are planning everything properly you don't leave anything to chance. There can't be things beyond our control. For example, when a contractor is unable to complete the job on time. Dealing with contractors can be incredibly frustrating at the best of times.
If you plan for fallow periods, especially due to adverse weather conditions and have a few DIY tricks up your sleeve, it won't feel like the fixing up is stopping dead. Think about what you can do to keep everything ticking over so you can keep pushing in the right direction.
A fixer-upper is something that is a labor of love. When you undertake the massive task of fixing the property up, you've got to understand where your own limits lie. Partly you've got to plan the process and preferably do one room at a time but also think about everything with an eye toward the bigger picture. If you are not able to get everything done to a deadline this can be stressful. You may find yourself working evenings and weekends in order to get everything done on time. But there will always be things that hinder the process.
This isn't about admitting defeat, this could very well be about hiring different contractors to make sure that you can get aspects of the property done on time. The big problem is when you are living in a property that doesn't have running water and important amenities. It feels like you live in a dilapidated place. But this is when you have to get away for the benefit of your sanity.
Fixing a fixer-upper can be more expensive than buying a fully renovated property. Many people think that they can easily fix up the space that needs it and “won't take long” but if you had it in your mind that it can take longer than you anticipated you are preparing yourself for the long haul.