Is a fixer-upper in your future?
We all have ideas of what our dream home would be. If you’ve been house hunting for a while, you’ll know that finding the dream home isn’t easy. There’s so much to consider when moving home. From perfect location to perfect size, there isn’t much room for your dream home in there.
If you want to move to the country, or a specific area, you may have to compromise on the house you choose. But that doesn’t mean you have to settle for a house that makes you unhappy. It just means you have to change the way you look at homes. After all, there’s no reason your new home has to stay the way it is when you buy it!
Many of us avoid buying a fixer-upper because we don’t think we could turn it into the house we want. It’s time to stop that thought process! If you have a clear image of your dream home, it’s in your power to achieve it. Even so, here are a few things you may need to consider if a fixer-upper is on the cards for you.
THINK ABOUT MONEY
Money becomes a different beast when you’re buying a house which needs improvements. As well as considering the cost of the house, think about the expense of the work. One thing’s sure from the off; your home improvements are going to cost more than you expect. When you’re calculating, always over estimate. That way, you can ensure your funds won’t run out!
It’s worth calling contractors before you make an offer. That way, you’ll have a more precise idea of how much work is going to cost you. Though fixer-uppers often cost less, you may end up paying over the odds when you add the work onto that price. Don’t leave yourself out of pocket! Stay sensible in your search.
KNOW YOUR LIMITS
If you’ve never bought a fixer-upper before, it’s important you know your limits. Don’t use them as an excuse to not purchase a house that needs work, though. Bear in mind that you don’t need to do all the work alone. You could hire home remodeling contractors and other professionals.
Leave plenty of money for these additions. Knowing you can afford to get help will take a lot of the pressure off!
TIME-FRAME
When we’re looking for a new home, it can be hard to stay patient. We want to move the moment we find the right house. The months of waiting for contracts and chains can be unbearable.
Know that you’re going to have to wait longer if you’re buying a fixer-upper. Consider a rough timeline. That way, you can prepare alternative accommodation while work is happening.
Even if your new home is livable, it’ll be easier if you’re not there when everything’s going on. You may need to rent for the duration of the work. Make sure you take the timeframe into consideration, so you know how long it will be until you’re in your new home!