To some people, the idea of buying a fixer-upper can actually be a rather romantic one. The idea of working on an old house, of seeing it transformed from a wreck into a beauty, has a lot of appeal to many people. However, it’s not something you should jump into without serious thought, first. Here are five things to think about before you decide to take on that property with potential.
Get a thorough inspect
One of the problems of many people taking on a fixer-upper is that they tend to underestimate just what needs to be done. Not just how much work it will all be, but they miss significant problems until they’re in the middle of the work. You need to be thorough when you look over the home. If you don’t think you’re qualified to spot every little issue, sites like Home Inspections can help you find the parties that are.
After buying a home, you have likely already spent enough. You don’t need protracted renovations or restorations taking up a lot more money than you expected. To that end, once you have a definitive list of tasks that need to be completed, you should be thorough in researching the methods of doing so and the costs of those methods. As with any budget, you should always consider setting aside some extra money. You don’t want to be caught short when a simple task suddenly becomes a complex one.
In fact, if you go into the job expecting that everything will go to the plan you laid out, then you’re about to get proven wrong. DIY projects don’t go as smoothly as you might expect. If you go in there and plan on having the home in a perfect state within a month, it can be a serious knock to your confidence when it just isn’t ready. You need to be resilient and accept difficulties as they come to stick with it.
Realize when you can’t deal with all yourself
We all know that, in most cases, we’re going to need plumbers, electricians, and roofers to deal with the essentials of the home. But you should be willing to throw in the towel when a task is more than you bargained. For instance, relying on specialists like Empire Floors when re-flooring the home just isn’t as simple as you thought it might be. When it comes down to it, you’re not going to be happy with sacrificing quality just for the sake of saying you did it yourself. Have realistic expectations.
Don’t forget the exterior
If the house is in bad shape, then there’s a good chance the exterior hasn’t been cared for in a while. This isn’t just about having a pretty garden. A lot of people work on the problems facing a home such as damp or damage, but the forget the dangers that come from the outside such as pests. Make sure the exterior of the home is given the same thorough treatment as the interior.
If you’ve done all of the above and you’re still sure that you can handle it, then get in there by all means. The finished product can be more than worth the work, providing that you’re able and willing to put it all in.