Buying a Home That Needs Some Love: Tips for Making Changes
Buying a new home comes with a lot to think about, especially if that home is older and needs some work. There are many projects you can tackle yourself, from updating the kitchen to turning the basement into a living space, but others need the help of a professional, and it’s important to know the difference between them. You also need to figure out a budget and a timeline, as construction and renovations can be costly and time-consuming without a good plan. Of course, a major consideration is also how the changes that are made will affect your ability to resell the house down the road, as some projects add to the value more than others.
When it’s time to look for contractors, tools, and materials, go online to find the best deals and do some comparison shopping. This will enable you to plan for your budget and keep things on track. Also, think about how you can alter the house to meet your needs; you can add a bedroom or convert an existing space into a den or office. Adding onto a house is a bit more complicated than most projects and may require a special permit, so keep that in mind as well.
Here are a few tips on how to make changes to your new fixer-upper.
It’s possible to find an almost-perfect home that just needs a little extra space, and that’s where adding an external structure comes in. Building a garage can fulfill a multitude of functions, from housing and protecting your car and tools to giving you extra storage space for seasonal items like the Christmas tree and holiday decorations or sports equipment. So, think about the best ways to get started and which materials you’ll need; steel is a great option since it ages well and is extremely sturdy in high winds and weather.
Set a Timeline
One of the most difficult parts of any home project is setting a timeline. It can be hard to figure out how long it will take to complete a given task, especially if you have to rely on a contractor or other hired help, and there are almost always delays or unexpected issues that could pop up. The good news is that if you give yourself plenty of time to get the project done and create a plan B for every step, you’ll be as prepared as possible.
Get It Inspected
Having a home thoroughly inspected before you make a commitment can help prevent issues down the road that could be extremely costly, so don’t be afraid to have someone check out the house from top to bottom. Look for structural damage, roof issues, water leaks, and have the plumbing and HVAC system checked by a pro. If the home is of a certain age, it’s also important to have someone check every room for lead paint and look for signs of asbestos.
Think About Potential Resale Value
If you’re buying the fixer-upper in order to flip it, or if you know for sure that you’re going to sell it down the road, it’s important to consider the resale value of any project you take on. Do some research about the most desirable updates and upgrades in your area, and think about what makes the most sense for your family. For instance, you may want to install a sun porch, but those kinds of personal extras don’t typically give much of a return on the initial investment.
Buying a home that needs some work can be a huge investment in time, energy, and money, so it’s crucial to make sure you have a good plan in place before diving in. If you don’t have much experience with older homes, talk to a professional who can help you with any questions.