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General Advice for 1st Timers (Building/Renovating)
We were not really looking to buy a house, but suddenly came across a deal too good to pass up. We will be buying my grandparents' property for next to nothing. I was initially interested solely in the land, knowing the house needed far too much work to save... or so I had been lead to believe. Upon having someone else look at it who is very familiar with flipping houses, we now know it may be possible to at least save the bones, gut, and renovate it.
It's hard for me to put the sentimental part of this out of the equation, and of course, both sets of parents have opinions. We will be completely new to renovating and/or building. Either way, we would be doing as much as we could ourselves and hiring out some portions.
If you have done either, what advice would you offer as far as what to consider moving forward? Or first steps to take toward making the decision of renovating/building?
Re: General Advice for 1st Timers (Building/Renovating)
Prioritize.
Decide what parts of the house need to be renovated first in order to live. In other words, make sure you have a place to sleep and a working bathroom to start. If the kitchen needs a renovation, then decide if you can do it in parts instead of starting over from scratch. There will always be ways that you can make the space look appealing temporarily instead of redoing everything right away and from scratch.
Don't try to tackle too much at once. Take it room by room - it will save you from stress, being overwhelmed, and it will also save your wallet.
Look for deals on craigslist, yard sales, and in-store sales. Always check for coupons when buying materials, and don't be afraid to ask for help from family and friends.
Lastly, take your time and have fun. If you try to set an actual deadline for the work to be completed, you will likely get more stressed about meeting your timeframe. Take the work a day at a time and do what you can when you can. Enjoy the experience and the time you spend with your family renovating this house.
Good luck! It sounds like so much fun!
DIY & Home Decor Blog
Flipping a house is one thing. And a flipper will right away be able to see lots of stuff that needs work.
BUT, a home inspector will see beyond the cosmetics to the bones/structure of the home and be able to tell you what you're truly in for.
Find an independent 3rd party inspector highly-rated on BBB and ASHI certified.
Pay the $500 to have it professionally inspected (it should take about 4 hours and they should take pictures and include them in a written report for you.).
Go in with eyes wide open. What they discover may indeed surprise you. In teh very least, you will have more peace of mind.
I agree with MommyLiberty5013, get the inspection. There are things hidden in attics, in wiring, in plumbing that you may be totally unaware of. Things that passed inspections decades ago are now known to not be in line with "codes" for that item.
The other issue to consider is if the home is big enough for your future needs. How many bedrooms and bathrooms? Are you planning on having a family? Will it be big enough in the future? If not, can you easily add onto it by adding rooms outward, or expanding rooms?
I also agree that all of this can be done over time. When I moved into our home 18 years ( long before I married my current husband), the home was in "move in condition". Anything I wanted to do was cosmetic and I've tackled rooms one at a time without removing walls or tearing anything down. But, we did find that the electrical needed upgrading, I had to buy a new roof about 10 years ago, needed a new hot water heater, new furnace, have bought 2 air conditioner compressors, had to have plumbing leaks repaired, put in 12 new windows, and a new driveway. The windows and driveway were done with severance money from a job I lost many years ago as they were larger expenses.
Now, after 18 years I am getting a new kitchen floor (hardwood) to replace the old sheet style linoleum I've lived with all this time. We found hardwood floors under all the carpets in the bedrooms, and as I decide I can afford to change these with both time and money, I will.
Buying a home is a huge responsibility and an inspector is well worth the cost to find out what major issues there may be.