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Three Essential Considerations Before You Buy a Fixer Upper

Three Essential Considerations Before You Buy a Fixer Upper

With housing prices through the roof these days, it’s not easy to get a foothold on the property ladder. Many enterprising young buyers are grabbing what they can afford and putting the work in themselves.

Whether your goal is to create your dream home or flip your property for a profit, renovating a fixer-upper isn’t as easy as you might hope. Before you put in an offer on a house that needs some love, be sure to consider these important factors that could determine the success of your renovation project

Photo by LoboStudio Hamburg on Unsplash

Are You a Happy Camper?

When you first lay eyes on your fixer-upper, you may be blown away by its potential. Before you buy, it’s worth asking yourself how long you’d be prepared to live in this house without the planned renovations taking place. If you’re buying a property that needs help, you may not have the ready cash to mend and upgrade everything right away. If you’re planning to do the work in your spare time, you’re unlikely to rival a builder for speed, no matter how excellent your DIY skills are. Some projects will be more urgent than others. While you may be able to live with those outdated bathroom tiles, you might want to call the roofing company right away to deal with that leak above your bed. If you’re not prepared to rough-it indefinitely, it makes sense to have a clear work plan and budget laid out before you sign that dotted line. 

Your Skills

When you imagine saving loads of cash by picking up a fixer-upper on the cheap, remember that the labour required to do the work is going to cost you one way or another. If you have enviable DIY skills and experience, you may be able to get the bulk of the work done on your own, but remember: time is money. Is affixing skirting boards the best use of your time, or are you losing income by devoting hours to this project? Likewise, the cost of hiring professionals should be incorporated into your overall budget. If you buy a fixer-upper without factoring in labour costs, you may end up shelling out more than you would have to buy a house that has already been renovated to a high standard. 

Photo by Nikolay Draganov from Pexels

Location (Location, Location)

That old adage still holds true: while you stand to make a good profit on a fixer-upper in an up-and-coming neighbourhood, sinking money into a renovation project in the wrong location could be throwing good money after bad. You can renovate until you’re blue in the face—install crystal chandeliers and a basketball hoop—but you can’t move your house any closer to the school you’d like your child to attend, or any further from the noisy train station. It’s really easy to get swept up in enthusiasm when a house ticks most of your boxes except for the area it’s in. If you’re infatuated with a fixer-upper of your dreams in the wrong sort of place, go home and take a cold shower and tell yourself: no. Another gem in a perfect location will come along. 

Whether this is your first home or you’re buying to let, give some thought to these important considerations before you invest your money, time and DIY magic in a fixer-upper. 

Tia, and TipsfromTia.com  is trying to keep you looking good and
feeling good, from the inside out. If you’ve got a problem or a tip email me! Be sure to Like and share on Facebook or Follow on Twitter or Instagram.

The Benefits Of Taking The DIY Approach To Household Improvements

The Benefits Of Taking The DIY Approach To Household Improvements

Many families spend a small fortune on professional services when they redesign or renovate their properties. While you should never mess around with plumbing or electrics, lots of folks would benefit from taking the DIY approach in other areas. With that in mind, this article contains some facts that you won’t want to ignore. By the time you leave this page; you should have no doubts left in your mind about the benefits of doing it yourself and getting your hands dirty.

 

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There is no getting away from the fact that people who engage in DIY will save a staggering amount of money every year. That is because painters, decorators, and other tradespeople charge a lot of cash for their services. So, sometimes you just have to roll your sleeves up and perform the job alone. We live in the digital age, and so you can always check out some instructional YouTube videos if you get stuck with any particular task. All the information you require is freely available online, and so you’re wasting capital if you employ someone else to complete a renovation job you could handle.

 

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You will learn how to use lots of tools

 

You never know when your DIY skills might come in handy in an emergency. People who always call professionals to deal with home renovations will never learn tool skills. Those who decide to perform the tasks alone will have to buy lots of equipment. However, you should see that expense as an investment that will pay for itself in the future. You’re going to need the best rated reciprocating saw, a power drill, and lots of other tools you can purchase from specialist stores in your local area. When you know how to use those items correctly; you might encounter lots of new opportunities.

 

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You will feel proud of your achievements

 

Lastly, you are going to feel happy with your efforts and proud of your achievements if you opt for the DIY approach to home restoration and maintenance jobs. Once you complete each task; you can stand back and marvel at your craftsmanship. There is no sense of achievement when you just hand over a wad of cash to the first tradesperson who answered the phone. Take pride in your home, and ensure you always give it the attention it requires. Just make sure you don’t tell your neighbours about your new skills, or you might struggle to get some peace on your days off.

 

As you can see from the information on this page, taking the DIY approach offers many benefits to the average homeowner. Of course, some people are accident-prone, and they should probably stay away from power tools as much as possible. However, if you’re a capable person who loves learning new techniques and skills; DIY is the best way to improve your home and make the changes it requires. As mentioned previously, you just need to search online for guides and instructional videos when you get stuck.

Tia, and TipsfromTia.com  is trying to keep you looking good and
feeling good, from the inside out. If you’ve got a problem or a tip email me! Be sure to Like and share on Facebook or Follow on Twitter or Instagram.