If you are keen to purchase a fixer upper, you’re probably eager to cut costs as much as possible.
The easiest way to do this is by taking a hands-on approach. This includes completing all of the tasks from the repointing to the decorating and from the kitchen fitting to the floorboard polishing. Sure, it may take an awful lot longer than getting the professionals in. But you will save a ridiculous amount of money by committing to a DIY approach to your fixer upper.
Before you purchase a home that needs complete renovation, be sure you aren’t buying a money pit.
Just because a house is cheap, doesn’t mean that it’s a good deal. It may be suffering from subsidence or heave. Or it may have profound structural issues that will cost a small fortune to fix. It could be located in an area that isn’t desirable. You need to do as many checks as humanly possible to safeguard against purchasing a home that you will end up losing money on. Ensure that you instruct a full structural survey for any fixer upper you are looking to buy.
While valuation surveys are cheaper, they are not comprehensive enough for a property that will inevitably have issues.
A survey should flag up all potential problems so that you can budget for rectifying them on your scheme of renovation. Many people are terrified of purchasing a doer upper and will retreat to the tried and tested homes that simply need a quick lick of paint. If you fancy outperforming the market and you want a challenge, take a look at how you can take a DIY approach to your fixer upper purchase.
Moving In
It’s a good idea to maintain a short term rental while completing the renovations to your fixer upper. Your new little patch of bricks and mortar may not even be safe to live in. That’s why it’s vital that you have alternative living arrangements.
When you pick up the keys to your new pad, take a clipboard and a pen, and go old school, listing every single job that needs to be done. Be methodical and go room by room listing every task to complete no matter how small. This will help you to work out the tradespeople that you will need to call upon. Taking a DIY approach doesn’t mean doing everything yourself; just those bits that you can legally complete yourself. To connect gas lines, fit a gas cooker or service your boiler, you will need a gas registered professional. For any electrical work, have an electrician to check the wiring in your new dwelling is safe.
After you have made your list of jobs, try to order them. There is no point fitting the most beautiful carpet in the living room if you haven’t replastered the walls and exposed the brick on the chimney breast yet. Firstly, check your utility connections. Next, head into the attic and the basement to check for damp and rot. If these are ok, check your water pipes. A fixer upper that hasn’t been inhabited for decades may require the use of some sewage pumps to clear septic tanks and ensure hygienic sanitary conditions.
Upskill
If you are determined to do as much work as possible on your renovation project, you may need to enroll on a couple of courses to learn the practical skills needed to make a success of your project. Learn how to plaster and skim a wall! Undertake a basic plumbing qualification so you can fix a leaky tap. Or even learn how to lay laminate flooring and tile a bathroom wall. These basic skills will stand you in good stead for this project as well as any future renovations you might encounter.
Don’t launch headlong into tiling a kitchen floor or exposing a chimney breast without the relevant tutorage. You may end up with a poor quality finish that will only need fixing or doing again. If you need to complete any paperwork such as building regulations or FENSA certificates, make sure you go through the appropriate channels, and you don’t cut corners. At best you may find it a struggle to sell on your property. At worst, you may be forced to reverse your renovations.
Don’t Forget Outside
It is very easy to become blinded by the interior of a property. You want to get your room configuration right. You want to enjoy picking out the soft furnishings and color schemes. And you can’t wait to have a homely humble abode. However, you should never forget the exterior and outside areas of your property. If you are lucky enough to have a garden, make sure that you strip away the jungle-like overgrowth and construct a beautiful and more well-coiffed garden to enjoy. You might want a patio, some decking, and a rockery. Even if you aren’t the most green fingered of individuals, you can still design a great outside space that can be utilized during the summer months.
The facade of your property shouldn’t be neglected. Think about repointing brickwork, adding a smooth whitewash render for a more sleek and minimalist frontage and putting up shutters, hanging baskets and window dressings. The curb appeal of your dwelling should not be overlooked.
Purchasing a fixer upper isn’t the romantic notion that you might envisage.
You will encounter long hours working on-site in the evenings and at weekends. You will have to make your money stretch. And you will inevitably encounter unforeseen expenses that will need to be factored in. However, if you buy the worst house on the best street and you stick to your plans, you could end up with an asset that allows you to see a return on your investment and gives you the home of your dreams.
