If you’ve decided to buy a fixer upper property rather than something that’s move-in ready, you have an exciting journey ahead as it’s wonderful being able to transform a house into your dream home. However, buying a fixer upper home can also come with its difficulties, especially if you don’t fully understand the work that will be involved or you underestimate the scale of the project. As a company that specializes in home renovations we know what to look for when buying a fixer upper and how to make sure you’re investing your money in the best way. Here are a few questions to ask, things to look out for, and who to talk to before you sign the paperwork on your new property.
Distinguish slight imperfections from total wrecks
Some fixer upper properties come with surface imperfections, while others come with structural issues that require major repairs. If the paint is chipping away, the bathroom needs redoing, or the roof needs repairing or replacing, this is completely manageable and your project should be fairly issue-free. However, if you’re dealing with a severely rotten structure or structural issues, cracks in the foundation, a leak that’s gone untended, or something else that runs beneath the surface, this can add a huge amount of money to your home improvement and it may be better to gut the property and build it from scratch rather than repair what’s there.
Evaluate the renovation costs with a contractor
We can’t stress how important it is to evaluate the renovation costs with a contractor before you hand over the money and take on a project home. Firstly, get a home inspection report to identify any issues with the property, and then consult your local contractor to get an estimate on the work involved and ascertain whether the fixing-up costs fall within your budget. If the cost is significant, you may want to negotiate a discount on the property especially if the issues run deep.
Consider how you can personalize the home
The beauty of a fixer upper is that you can create your dream home and tailor it to your preferences. Think about how you’ll use the property both now and in the future, and if you’re planning to sell the home after it’s been renovated, what buyers will look for. Features like custom and smart storage solutions, double-sink bathrooms and luxury showers, and beautiful finish carpentry are all very desirable and will make your home feel extra special.
Looking for a contractor in Vancouver to help with your fixer upper property? Get in touch with us today to discuss what you’re looking for.