Investing in a home is a huge decision that could go a number of ways. A fixer-upper is inherently going to come with a number of issues that a turnkey home will not. The financial potential in some fixer-uppers is so great that taking the risk can benefit the buyer substantially. Finding the right contractors can be a blessing as there are so many subpar choices. You want to be referred or to trust a company that is well-reviewed in the local area and has been for years. Not all repairs/improvements need to be done by professionals but there are those where it is better to leave it to the pros. Below are some ideas to help revamp your fixer-upper if you are not sure where to start.
Prioritizing Improvements/Renovations
You are going to need to budget for each project along with for any hidden issues you might uncover. Creating a list is important but the improvements needed to make the home livable are most important. Take the time to figure out what you want out of your home and see what it will cost. You do not have to fix everything at once but can do various improvements over the course of time as you save money.
Improving The Kitchen
Improving the kitchen might be the first item on the list of improvements. The kitchen does not necessarily need to be gutted but rather refinished in some cases. Cabinet refacing can make them look great after years of abuse by the previous owners. New counters can be relatively affordable depending on the material they are made out of. Kitchen islands can expand the space in the kitchen and make it far easier to prep meals as well.
Clear The Clutter In The Yard
The clutter in the yard can be a huge undertaking to clear on your own. You might need to find the help of professionals or friends/family that owe you big favors. The ability to get rid of this clutter can give the outside of the home new energy. A home where bushes or trees block the entire home is likely going to be dark inside as well. Managing the landscaping can increase the light in the home which is a bonus for most that have purchased a fixer-upper.
New Flooring Changes The Energy Of A Home
New flooring might be the largest expense that you have in terms of your fixer-upper renovation. Refinishing the floors can be an option if they are not in too bad of condition. Tile is popular for the fact that it is durable while it can still have the classic appearance of wood flooring. You might even want to purchase the tiles yourself as some contractors markup their materials to increase their profit margins.
Revamping your new property might take months or even years to complete. The project can be quite fun to take on and can be extremely profitable if a home is selected in the right area. You might stay in this home for years and watch the area flourish around you.
