How To Plan For A Fixer Upper
Sometimes, you can’t find the house of your dreams. Sometimes, you just have to create it. Not all of us have the budget to build a house from scratch, but it is possible to find a house that needs a little TLC that you can easily convert into whatever your heart desires. The thought of buying a fixer upper can be daunting – how much work is really involved? How do you budget for costs? Which room do you start with? Take a deep breath, I’m going to set you on the right path by giving you some important questions you will need to write down answers for.
What Do You Want And What Do You Need?
With a fixed budget in mind (I can’t stress this enough, life is not like a TV show where you can go over budget and not be in debt), focus first on the functionality of the house. Is your roof leaking? Do you need a new fridge? Start with the essential things that make your house work. Once you have budgeted for that you can focus on beautifying projects. When trying to decide which cosmetic project to work on first, focus on ones that will reap benefits in the long run and will provide a solid return on your investment should you ever choose to sell your home. These projects usually include the bathroom and the kitchen. But just because you are working in these rooms does not mean you need to have the most luxurious and expensive appliance upgrades or furniture! Rome wasn’t built in a day. You can save up over time for big-ticket items while still beautifully renovating your space.
What Is The Condition Of The Items You Are Purchasing?
A great way to save money is to do your homework. Oftentimes, people feel the only way to renovate their home properly is to buy something new. But actually, you can buy some outstanding quality pieces that are used! Vintage chairs and sofas can easily be reupholstered. Tables and other wooden furniture can be refinished or painted. You can significantly cut your budget by remembering that your guests will only know something you purchased is brand new if you tell them.
Do You Use Gift Cards?
Staying on a fixed budget is very tough, I understand that. Yes, you may have a specific budget in mind but when you’re in the store you may not have the exact cash so you will be tempted to use your card. And just like that, you can teeter over without realizing it. If you buy a gift card for yourself from the store you know you will make a purchase from, you can be sterner with yourself. You only have what’s on the gift card, and if you go over, instead of paying with whatever else is in your wallet, you’re forced to put back and item or two that was on the conveyor belt at the cash register.
Have You Consulted A Professional?
Many people think they can only afford to consult a professional when they have a huge budget. But actually, one of the best ways to spend your money is to consult one! They will be able to tell you things about your city’s code that you might not know is critical when renovating your home. They can also point out hidden elements that can wreak havoc on projects as well as tricks on how to boost the value of your home without going broke. Find a professional that has an hourly rate rather than a fixed fee and discuss the possibilities of your home.
I know all about fixer uppers and how easily they can turn into nightmares. But if you go in with a firm but passionate mindset, I know you’ll be able to achieve your goals. If you’d like to know more about buying a fixer upper and renovating it to a high standard, don’t be shy! Shoot me a message and let me show you how capable you are.