Should you Buy a Fixer Upper? – Making a Sound Decision

Fixer Upper or Money Pit?

When considering whether to purchase a home as a fixer upper it is important to consider several key points.  First of all is time and money.  Fixer uppers typically need lots of both.  The other thing that is important to consider is how you will live while you making improvements.

If you have a lack of funds it would probably not be in your best interest to purchase a home that needs lots of love and attention otherwise you will see it continue its downward spiral into the money pit.  If you will be living in the same home that you will be making improvements on, consider where you will store furniture and such while you are remodeling.  It can get messy, crowded, dusty, etc and often you will live without modern conveniences for periods of time as you work on projects.

Who will do the work?  If its not you, you will need a budget the cost of having a professional come in to do the work and more time in selecting the contractor to help with that task.  Oh and by the way, they will be a lot less flexible if you have items in the work area.  They prefer to have a clean slate to work in/on.

As a family who does lots of do it yourself projects and yes on a fixer upper my advice is to start small if you haven’t done much of this to see if its for you.  Fixing a small plumbing problem might lead to a total redo of the old existing plumbing.  I am speaking from experience here and the water was shut off for days as we reworked and brought the existing plumbing up to today’s codes.

Looking for that fixer upper or that move in ready place, be sure to give me a call so I can help you to find that perfect home and get you moved in!

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Budgeting Those Home Improvement Projects

Kim Woehl Keller Williams Premier Realty - kwoehl.kwrealty.com - 651-214-1459

Some people budget when it comes to large home improvement projects but we tend to do projects as we have money to get things done.  My husband is also a rather good do it yourself, guy.  This means that if you can do it yourself why should you pay someone when you can do a quality job yourself.  While I think this is hugely valid and definitely saves lots of money, time is certainly a rather large challenge.

We have been working on our lake home for about a year and a half now and so far we have the structure up, a roof over our heads and have replaced all but 2 windows in the whole house.

Sometime during the winter months I lost all water to the house as my hubby thought it would be a better idea to totally redo what was there as it was mostly leaky anyway.  The last straw came in when the toilet began leaking and he realized the flooring needed work due to the leak.  Next thing I know I get a phone call to let me know I no longer have a toilet and oh by the way, No Running Water.

Roll ahead to June 19, 2012.  I have running water outside so I can at least get some fresh water.  Plumbing is ran except to the new kitchen which is in the new addition part of the house.  The bathroom is our focus as we all would love to have a toilet in the house again.  (Simple Pleasures).

So silly me, I assume I will get a toilet as soon as I get plumbing, but no. It turns out we have to do the tile on the floor and on the wall that the toilet will be near as it would be difficult to do this after the toilet is installed.

I am thrilled to report that the tile is starting to go down.  He has also done the concrete work for the walk in shower and I am pretty excited about the idea of a toilet and a place to wash off the day’s dirt.

Budget, well not exactly but this works really well for us.  Patience is a must and you certainly have to understand that you may be without life’s luxury’s for awhile.

If you can live with the mess and the loss if certain conveniences for a bit and you truly are that handy person you might consider a small home improvement project.  If you are a bit more savy, you might take on a bigger challenge.  By the way, we do hire services from time to time.  We hired the block work for the addition to be done and we hired a guy to shingle for us so we had the roof covered before the winter and we also payed that same guy to side the tall lake side of the house as we did not have scaffolding to reach the peak area.

Please share a do it yourself story of your own.  Sometimes we need to laugh about some of our challenges so that we have the strength to keep plugging along!