Buying your fixer-upper can be a great way to get a deal on a property and make it your own, but it’s important to know what you’re getting into before taking the plunge.
Your fixer-upper may be a great deal, but it will take some work to get it into shape. The adventure starts with the purchase, so let’s take a look at some tips to make it fun!
Here are ten things you should do when you buy your fixer-upper:
1. Get a thorough inspection:
You’ll want to know exactly what you’re getting into before you start any work on your fixer-upper. A thorough inspection will give you a good idea of the condition of the property and what repairs will need to be made.
TIP: When buying an older house, you may need asbestos removal, so be sure to factor that into your budget. Asbestos is a serious health hazard and should be removed by a professional.
2. Make a budget:
Once you know what needs to be done, you can start making a budget for the repairs. Be sure to include a buffer in your budget in case there are any unexpected costs along the way.
3. Get quotes from contractors:
If you’re not planning on doing the work yourself, you’ll need to get quotes from contractors. Be sure to get a few different quotes to compare prices and services.
4. Prioritize the repairs:
Some repairs will be more important than others. You may need to prioritize the repairs based on safety, cost, or urgency.
5. Draw up a timeline:
After you’ve prioritized the repairs, you can start to draw up a timeline for when they will be completed. Keep in mind that some repairs may take longer than others.
6. Get the necessary permits:
Before you start any work on your fixer-upper, be sure to check if you need any permits. Depending on the type of work you’ll be doing, you may need a building permit, electrical permit, or plumbing permit.
7. Find a good contractor:
If you’re not planning on doing the repairs yourself, it’s important to find a good contractor who can do the job right. Be sure to get recommendations from friends or family and read online reviews before you hire anyone.
8. Stay organized:
With so many things to do, it’s important to stay organized throughout the process. Create a folder for all your documents related to the purchase and renovation of your fixer-upper.
9. Keep track of your expenses:
Keep track of all your expenses related to the purchase and renovation of your fixer-upper. This will help you stay on budget and avoid any surprises down the road.
10. Enjoy your new home:
Once all the repairs are finished, it’s time to sit back and enjoy your newly renovated home!
Fixer-uppers can be a great deal, but they do require some work. Be sure to do your research and budget for the repairs before you buy. And once you’ve completed all the repairs, enjoy your newly renovated home!
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