Many people looking for homes decide to look at fixer-uppers. This can be a way to secure a house for a very cheap price and transform it into a person’s dream home. It might sound like it could be a fun project to take on, but there are many things to consider that aren’t so much fun. It can quickly become an overwhelming process.
What you need to know if buying a fixer-upper:
- Stick to a budget: Be realistic about how much money needs to be set aside for renovations. Also, include the rent/costs of an alternative living situation while the fixer-upper is being renovated. The biggest thing is to allow a small cushion for going over the budget, which will for sure happen. Talk to an architect or contractor and clearly communicate what price points are attainable for each room.
- Find a reliable team: The right contractor can make or break a home renovation. Spending too much money on one could be a waste. Also, not spending enough brings the risk of them not doing the job properly. The best way to find a good team is by personal recommendations you’re your Realtor, friends, or neighbors.
- Get ready for the worst: If you’ve ever watched HGTV, it’s obvious that every fixer-upper comes with hidden problems that were never expected. Whether it be from the previous homeowners, a worker getting hurt on the job, or the contractor secretly cutting corners, always be prepared for this project to not go over as smoothly as planned.
Fixer-uppers can be such a fun project to tackle with a significant other or family member. Always be prepared for the emotional rollercoaster that comes with it. Just when things are going great, something new will come up. The feeling when the house is complete is unlike any other. If you’re looking to buy a fixer-upper, make sure to contact Raleigh Cary Realty. We can help you through the process and provide great tips and recommendations!