Fixer Uppers
What You Need to Know About Buying Fixer Upper
By Buyincomeproperty.com
Nov 3, 2005, 17:41

Some people want a brand new home and nothing else will do. Then there are others who appreciate the personality of older homes that they can breathe new life into. If you happen to be one of those who would prefer the history and atmosphere of a fixer upper home, your search can be simplified with a task as simple as making a list.

Start your list with “Things I Like in a House.” This will help you narrow down your search for the perfect fixer upper. Do you like large bedrooms? Maybe you want a living room and a den. Is a fireplace a must-have? How important is the size of the yard? These questions should get you started. If you’re using the help of a real estate agent, pass this list along to your agent. He or she will be able to help you find the fixer upper of your dreams much faster with a list of your likes and preferences in hand.

If you plan to hire all the work done, the next step isn’t necessary. But most people who buy a fixer upper either buy one to save money or because they love the project of making the fixer upper house become their home.

If you plan to do some or all of your remodeling and renovating, the next step is important. Make a list of your abilities and skills. Be honest with yourself as you list them on paper. If you can do basic carpentry, list it. Most fixer uppers require some carpentry work. Can you hang sheetrock? Wallpaper? Strip and refinish hardwood floors? Most of those are fun things. Now take more serious projects into consideration. Could you rip up a subfloor and replace it? Can you roof the house? Do you have any masonry skills?  If you can’t do some of those things but know friends or family who will help for little or minimal charge, list them. If you want to do all the work yourself, you’ll know not to buy a fixer upper that requires more than the skills you have listed or the skills of family and friends willing to help.

Now that you know what you want in a fixer upper and what you can and can’t do yourself to improve it, the search will narrow greatly. Expect to sacrifice something along the way. For instance, you may like large bedrooms, but if the location is great and it’s got all the other items on your wish list, maybe you can give up on the large bedroom. Or, if a fixer upper house has absolutely everything you’ve dreamed of but needs a new roof, maybe you can choose to hire the work done. Get an estimate and give it some thought.

Once you’ve located the fixer upper you want to make your new home, remember that as you show off your new property to friends and family, they may have different ideas for it. Remember that ultimately you will have to live in it, so don’t fall into their plans for your fixer upper. The room that you love because it’s secluded from other areas, may be the one your grandmother insists you should tear a wall down in to open it up to the rest of the house.  Don’t let them get to you. It’s your fixer upper house, not theirs.

Walk through each room and make a list of renovations that need to be made to your fixer upper. Wait a few days and do the same thing again. You might find a few more projects that will need to be done to your fixer upper.

As you mark projects off your fixer upper list, you’ll see your house start to take on shape and a personality of its own.