Few things in the world are more satisfying than owning a home that bears your individual stamp of expression. When you luck out and find a fixer-upper house that you’re able to turn into a home that’s truly your own, you wind up with a personal living space that’s a much a home as it is a result of your own creativity. The fixer-upper can be a lot of work, but it can be just as much fun! So, what types of things should you be considering to ensure that you come out with the best possible deal? We’ll take a look at some of the most important things a homebuyer should take a look at and think about before pulling the trigger on the purchase of a fixer-upper.
How’s the Structure?
Different type of fixer-upper homes exist in the world, and some of them are so far-gone that they might even transcend any ability to actually be fixed-up. When you’re looking at a potential home that might require a fair amount of weekend warrior contracting, you want to make sure you’re thinking about buying a building whose structural integrity is completely intact. Structural problems are so intense that we would recommend not even dealing with them yourself, in most cases. Have the building inspected, and try to work this into the cost of the house itself. Get a guarantee that the structure is completely sound before you make any kind of purchase on an old house that you intend to make new again.
It’s important to know ahead of time about the permit regulations and rules in your area. Decide whether or not this is going to be a dealbreaker for you, because if you wind up getting surprised by hefty permit costs, it could turn what was supposed to be an incredible home-buying experience into a bona-fide nightmare. Doing your research is almost never a bad idea, and this applies doubly to instances when you’re involving your finances, your credit, and especially your family’s living situation. Check the situation out as thoroughly as you possibly can before you spend a single cent.
Can I Do It Myself?
Everyone wants to be the All-Powerful Overlord of Home Improvement, but it’s important not to let your reach exceed your grasp when it comes to fixing up an entire home. Assess the situation honestly. Very honestly. Can you do these repairs yourself? Do you have the tools, qualifications, and/or experiences? If you can’t, can you afford to hire a contractor, or multiple ones? These are all things to think about, and you should, if anything, make sure you always err on the side of caution when you’re thinking about things as sensitive as your potential home.
Is the Plumbing & Electrical Sound?
Forgetting to have the electrical and plumbing systems that run through your house is one of the worst mistakes you can possibly make when buying a fixer-upper. The plumbing and electricity are basically the nerves and veins in your house, and if they don’t work, you might as well not have a home. (No offense to the Amish, of course.) Expecting to move into a house with full amenities and discovering that you’ve been left in the pre-industrial era is one of the biggtest disappointments we can think of.
Can I afford it?
When all else has been considered, the only thing left to do is step back and think about how much you can afford to spend. Can you pay for everything you’ve planned out? Is there maybe something you can scrap or simply wait on to save money? Think carefully about what you can afford to spend, because stretching yourself too thin will only lead to worse problems in the future.
Regardless of your property, whether it’s beautiful Houston real estate or a remote parcel of land in the sticks, it’s always important to carefully consider all the aspects of any fixer-upper home you might want to buy. Always avoid getting in over your head, and you’re likely to have one of the most positive home-improvement experiences possible.