A fixer-upper requires significant time and effort to renovate. While the DIY route might seem like the best way to save money, it isn't always the most affordable option. There are other issues like time and logistics to consider. If you're thinking about buying a fixer-upper, here are the biggest things to consider:
The major drawback to fixer-uppers is the time and effort they require. Even for DIY masters, an entire list of home improvements adds up to a significant undertaking. Some tasks might be simple and inexpensive, like painting or installing tile. Others, like plumbing overhauls or installing new HVAC systems will require more time and labor.
Unfortunately, fixer-uppers often come with unexpected costs beyond what you budget for. Even with the unpleasant surprises, you may end up spending more than you budgeted for on renovations. Every construction project inevitably runs into delays or issues with materials—these issues can add up quickly and add monetary stress to the situation. If you hire professionals to help you with the bigger projects, their labor will factor in as well.
As with all renovation projects, there are bound to be timeline issues. Delays in getting materials, poor weather and any other myriad obstacles can stretch out a quick project into a month-long process. If you're doing the work yourself, you'll also need to consider your own energy levels and life balance. After all, you need to make time to eat and sleep! Balancing DIY renovations with jobs, social or household obligations and your own peace of mind may factor in to your timeline. Unfortunately, these issues are some of the hardest to plan for.
Fixer-uppers can be a ton of work, but they can be very rewarding. Whether you plan to live in the improved home or flip it for profit, you can get even more out of it than the work you put in.
With over 30 years of residential experience in the Capital District, I have an in depth knowledge of houses for sale throughout the region. Working with buyers, I listen to your needs and help you find the right home. Selling a home requires a professional understanding of the process, including pricing, staging and personalized marketing techniques to get your home sold. I will work with you through all the details of buying or selling right through till the closing.
I have been a Multi-Million Dollar Producer throughout my career. I am active in the Greater Capital Association of Realtors serving on the Professional Standards and the Community Outreach Committees.
My business has been based on repeat and referral clients, which is the highest compliment I can receive. I have sold some homes 3 times and have worked with 3 generations of a family.
I believe in paying it forward. For years I have been actively involved with community service organizations.
Real estate has been my job but I really enjoy helping others create a better quality of life for themselves
