If you have bought a fixer-upper it might be that you can’t afford a turnkey property at this time. It also means that you will have to roll up your sleeves and do some renovations. It can be a bit overwhelming when you look at your new place and want it to look like a home. It takes patience, passion, and elbow grease. You may also need to do a lot of thinking and planning to get it right.
Know your budget.
Before you even lift a finger, do some calculations and plan what you can afford to do right now. Make a list of priorities that must be done first. Consider what is most important for you to do first. If you aren’t sure how to do renovations correctly, then check with a professional contractor. They will help you get a clearer picture of the expenses involved. They will give you an idea of the total cost of the project. It doesn’t mean everything has to be done at once. You might even want to develop a renovation plan in stages.
If you decide to hire a contractor, don’t go for the lowest bid to save money, even if you are on a tight budget. You should get 3 estimates. Get recommendations, interview each contractor, and talk to their clients. A good contractor will look at your priorities and help you save money.
Start with the outside.
Work your way in from the outside. Assess the foundation and check for cracks and any water damage. Check that the land slopes away from the exterior of the house. Check for any standing water. Even though you might think of your home’s interior as the priority, your structure is the most important first step.
- Purchase new locks for the doors.
- Inspect vents, eavestrough and chimney.
- Other updates outside could include cleaning gutters and windows.
- Check to see what needs to be painted or fixed.
Think about your interior plan.
Before you think of taking down walls, make sure that a structural engineer checks your plans. They will know which are load-bearing. Don’t forget that walls include plumbing and electrical. Be careful when you start your demo!
Evaluate the electrical integrity of the home. Have an electrician check for dead outlets, warm switches and flickering or dimming lights. The bottom line is to inspect all electrical aspects of your home, especially old wiring.
Focus on what is manageable. Try doing some small projects too that need to be done. Rather than stressing about a gutting the whole kitchen, fill in nail holes in walls that you are going to keep and that need to be painted. Sometimes you need to take a small break and go one step at a time. Take time to look at your accomplishments instead of stressing that you have a lot to do!
Final thoughts
Buying a fixer-upper can be a good way to get into home ownership. It can be a labour of love, whether you plan on staying for two years or ten years. Make sure whatever is causing issues is fixed.
At the end of the day, it will make your house a home. It may take some time, but it will be worth it. You should always be forward-thinking when doing renovations, as you may sell your home down the road.
If you are planning on selling your home, check with our Anne Winch Real Estate Team for information on any renovations you are planning. Getting expert real estate advice is paramount when selling your home, especially if you are thinking of having renovations done. Sometimes renovations you think might be necessary to sell your home may not be needed at all.