Hopefully your income goes up as you pay down your mortgage and build equity and put more and more savings in the bank. Buying a fixer upper can be a great financial decision. Buying and rehabbing a fixer upper is a lot like childbirth. 3 Reasons You Should Buy A Fixer Upper 1. The "remodel" was very poorly done, had plumbing issues right off the bat and now we're dealing with a lead paint problem and windows that may need to be replaced so now we have to postpone a few other repairs and postpone the garage remodel. We bought a well maintained house with some updates but most of it is pretty basic (barren backyard, as an example). I do know the market very well at this point which is helpful. If you buy a fixer-upper $25K under the move in ready and then put $25K into it and have essentially the same value home as the move in ready, you've bought yourself nothing but hard work and possibly satisfaction of doing that work. foreclosures When in doubt hire a pro, just my opinion. It’s just hard to figure out which big, ugly project to start first. house I’m specifically focusing on ones that have good bones ie can be updated to today’s tastes; I’m not considering places with tiny master bathrooms, etc. I don't regret buying a fixer upper though. :). I regret living in the house while fixing it up. We don't have any immediate need to move to a house so we can take our time and wait for renovations. I can't imagine what it would be like if we had kids on top of it. I would never have done this with small children. Press question mark to learn the rest of the keyboard shortcuts. Longer than expected, because wrong kitchen cabs were ordered so we had to re-order and wait. Plus life gets in the way, especially unplanned stuff like funerals, family illness etc. Plus you don’t realize how much food you have until it’s in boxes all over your dining room, living room, etc. These houses will need new kitchens, bathrooms, paint, carpet, decorative touches and finishes. The new tile floor in the bathroom cracked due to improper install. TL;DR Look at permit and building history before buying a fixer upper. Don’t get distracted by the charm and caught up in what the home could be before you look at the most important things about the home: Location; It took me breaking one to finally finish the windows in that room. We are extremely happy with the reno and I would do it again in a heartbeat. Our second home needed a ton of work too, but we had the cash to do everything we needed BEFORE moving in furniture. landlord Buying a Fixer-Upper: What You Need to Know What to Look for in a Good Fixer-Upper Location is almost always the most important factor when purchasing real estate, and that's especially true when it comes to finding a good fixer-upper. Since buying, we’ve had job layoffs and pay cuts. Buying a fixer-upper is indeed more than just estimating repair costs and the expected sale price. Can’t live in ’em, can’t afford anything else. I would then still have the cushion available to me, but less of a need to dip into it because the mortgage payment and taxes on the fixer would be substantially less. Saving up the money to do an optional update is hard. Just, no. these just add more time into projects. The biggest question on everyone’s mind is whether buying a fixer upper is worth it or not. Cookies help us deliver our Services. financing By David Carlson / Last updated: July 14, 2019 / Buying A Home, Investing, Lifestyle, Millennials, Real Estate. I'm currently $1500 into what was supposed to be about a $1300 laundry room conversion - and I've still got drywall and flooring to go. We had 2 bathrooms so at least we could use one while the other was being worked on and then flip it and used the fixed up one. lending 2 weeks? Bought an 80s fixer upper. We've been working on a guest bathroom remodel since November and it's still not done. apartment The only thing I regret is not doing all the remodeling before I moved in. I have owned a home before with my ex husband but it was turnkey and we did nothing to it. I know there can be risks and it can be expensive, just looking for some advice/opinion from people who have done it. And forget it if you are having hardwood floors redone. Don't tell my s.o. So you have to add in all the time to move stuff out and store it properly before you can move it back in. With small children on top of it? Whatever you budget for make sure you've allowed 30-50% for unexpected things in the remodel. Obviously the latter is still necessary when buying a fixer upper, but the difference is, as mentioned above, that the initial purchase price is … I replaced most of the original windows in the first few years I owned the house. I wish I had seen this like 6 months ago. landlord You will build sweat equity with a fixer upper. In the throes of it you’re screaming at anyone to “just put me out of my misery,” and swearing you’ll never have another child (or remodel another home), but then comes the big reveal and all that pain is … And of course, as with all things, that depends. When buying a fixer-upper, the following types of roofs should be avoided if possible: Light wright tile roofs: Although these roofs are beautiful, they are expensive to install as well as maintain. The Financial Perks of Buying a Fixer Upper. However, buying a fixer-upper is a significant investment, both in time and money. foreclosure, Press J to jump to the feed. We’re wondering if this will eventually be us. I’m just wondering if anyone that is a first time home buyer bought a fixer upper and regret it? Buying a fixer-upper is different from buying a move-in ready home in many ways, but that doesn’t mean that the same basic criteria of house-hunting don’t apply. We were young and naive, so we didn’t check to make sure everything was permitted. Myself included. houses How do people typically finance buying a fixer-upper? I have to say I’m surprised that 100k doesn’t go far towards cosmetic renovations, but I admit I’m inexperienced in that area. IMO I've seen a lot of DIY disasters; many homeowners think they are handy and they can get in over their head. As I said we are renting now so we would just get the contractors in and have them go to town, then move in. Of course, eventually you break down and clean everything but it's only short lived until more dust rolls around. What would the permit have told you? We met with a financial planner to be sure we weren't eating into other priorities like college educations (my kids are already out of college so that was a non-issue, but is for you); and our own retirement. Plus this time I hired a guy to do Sheetrock and hang replacement doors. Do people typically get a conventional loan and then pay out of pocket for all renovations, or … Live there until the kids are out of school. In this episode, Phil looks at a key dilemma for many hopeful first homeowners. Buying a fixer-upper is one of those endeavors that looks so fun on TV (thanks, Chip and Joanna Gaines).But make no mistake: In real life, it's a huge risk, and a whole lot of work. You may not be able to get a loan on the fixer unless you do a rehab loan like 203K. It requires in-depth research of the neighborhood where the home is located, the general lifestyle and demographics of the area, as well as a professional home inspection that will reveal the problems invisible to a layperson. Good luck OP, go get 'em. Scope creep is real if you're a FTHB. Lenders have minimum standards; basically everything has to be sound enough and have a reasonable amount of remaining economic life, to make a 30 year loan. Buying a fixer upper solely to save money can go either way. Ultimately, the decision over whether or not to buy a fixer-upper will come down to your needs, abilities and resources. For people who love old houses — and love to work on them — the notion of buying a fixer-upper can be irresistible. I was just looking at the price quotes for what is remaining yesterday and while it seems like the list is so much shorter, completely finishing is just out of reach, so we have to keep saving and doing things as we go. buying a house This isn’t an investment property, but still a nice bonus. Since buying, we’ve had job layoffs and pay cuts. lending Considering buying a fixer upper and after a recent walk through, I discovered it was more run down than I had originally thought. Saving up the money to do an optional update is hard. It just seems that I could buy myself a lifetime of lower mortgage payments, making this a good financial decision in the long term. Or it makes sense to do it now because we've got walls open etc. A wrecking bar is the best purchase you can make for a fixer-upper. If you fix up a house in a neighborhood full of fixer upper houses, you’re not going to get a great return on your investment, because housing prices are set in part based on others around it. Money expert Clark Howard says part of the problem is that people have delusions of grandeur when it comes to fixer-uppers. Messes everywhere, half done projects all over. I am SO BURNED OUT. If you buy a fixer-upper home with this roof, you can expect to pay a lot in repairs down the road. Purchasing a fixer-upper comes with quite a few pros and cons – all of which are worth considering before sinking money into a home. When you buy a new house you have either two options: accept it as-is or add more costs on top of what you paid for it to personalize it to your liking. Buying something dated but move in ready can work and also give you the cushion of just not doing something until you save more, but cosmetic fixes don't really return well and then you have to live through a rehab. Stained flooring rather than replaced. Fixer-Uppers – Things To Keep in Mind Are you considering buying a home that needs work? We are 1 year and 4 months in. Timing: we started before we closed, by having an interior designer walk the place with us. foreclosures We plan to stay awhile, so resale value isn’t the biggest factor. I've seen loans denied over a missing sink. 13 things I wish I'd known before buying a fixer-upper house. But I think the last two were in for almost 10 or 15 years after I replaced the first ones. You SHOULD be shooting for 2 to 3 times the discount on what it would cost to do the work yourself. In our case, financial planner had wanted us to diversify into RE meaning a vacation home -- we instead put the vacation home money into the reno of a new primary residence. It was "all cosmetic." In general you get what you pay for. But if you're looking at a 40 year old house in an average location, vs a newer house in a trending location, I'd buy the new one. borrowing Buying a "fixer upper" So I'm thinking of buying this 3 bedroom house for 25k. By using our Services or clicking I agree, you agree to our use of cookies. Buying a fixer upper is not for everyone though, so in addition to giving you 3 reasons you should buy a fixer upper – I’m also going to share 2 reasons you shouldn’t buy a fixer upper. That’s the kind of thing I’m talking about. I vote go with the move-in ready for now (which is what I did when I was your age with young kids). If you’re considering purchasing a home sometime soon, but everything that interests you seems to be out of your price range, then you might consider buying a home that needs a little bit of TLC instead of something perfect and move-in ready. A third of your weekends for the next 5-10 years? It’s no secret that some of people end up drowning in debt due to underestimating the amount of time, money and work that is involved in turning an old house into a beautiful home. Having experience representing buyers, sellers, and landlords with their real estate transactions since 2005, we welcome the opportunity to share our expertise and guide you through the home buying or selling process. Is buying a fixer upper worth it? Here are the pros and cons of buying a fixer-upper. i made 265% on my first house with just 5% down (worcester) but here are some things I learned. Haha well I’m the wife/mom and also the one working...husband home with the baby. Thank you for the reply. Some houses are similarly priced or only a touch more expensive and already have these projects finished. The main regret with buying a fixer upper is having to live in it while remodeling it. loans We got stuck because we said "Oh, we'll update the kitchen for $15k!" So, there’s a little regret. Design process took 9 months, including waiting for materials to be ordered and arrive on site. Pros of Buying a Fixer-Upper. When buying a fixer-upper, it doesn't need to be just cheaper than a move in ready, it should be SIGNIFICANTLY cheaper. house financing 5 minute read We’re here to help! Just... not with small kids underfoot... ugh. Same thing with things like "oh, we'll just blow out this wall that separates the kitchen from dining room!". So my questions are: the fixer seems to make long term financial sense, but I have never done anything like that before. Just about anytime is a good time to buy a fixer-upper, especially if you acquire the property for a lot less than everything else around it. mortgages We also found out why the roof had been replaced originally-major kitchen leak with tons of moldy drywall and cabinets. A fixer upper is cheaper because it is lacking the fit and finish and the repairs a more expensive home already has had completed. loans In that regard, a home that someone has already updated is usually the better value. You will notice every detail about any house you walk into from here on out ("ooo, I like that thresh-hold" was never a … I’ve been looking for three plus months and haven’t found anything I love. We bought it because most of the ‘hard’ stuff was already done; roof, gutters, electrical, windows, new tile, etc. Much easier, much more quicker to do. I don't regret buying one bit. It's really close, we just can't seem to find the time to dedicate to finishing it. Am I missing something? a) ID what needs to be done b) do not go for something that isnt ready ie 203K...that's too busy for a guyw orking a FT job c) get a truck NOW (far more easy to have that) d) look at the market...go to open houses....know what a good deal is....get pre-qualified....talk to 3 mortgage lenders before plunking any money or signing anything e) you may qualify for first time owners low down payment deals! Systems were fine (other than replacing HVAC for $20K). On the surface, the idea of purchasing a fixer-upper for cheap and selling it for a high price seems like a no-brainer. apartment Beginner’s Guide to Buying a Fixer Upper: Surpising Lessons Learned December 28, 2016 For those of you familiar with my blog, you probably know the foundation of this site originates from me selling my new construction home for a fixer upper ( you newbies can read why here ). Which one will bring more comfort or joy for us? Thanks! We regretted our fixer upper. At first, the prospect of buying a fixer-upper may be appealing – and with good reason. If I buy the move in ready, I’ll have less of a financial cushion but still a reasonable amount of cash in the bank (think 75k or so). If you buy a fixer-upper $25K under the move in ready and then put $25K into it and have essentially the same value home as the move in ready, you've bought yourself nothing but hard work and possibly satisfaction of doing that work. Which frankly I didn’t like, as we just kind of lived in it but it never felt like ours. And I mean everything. Given my market and budget I’m in a position where I could either buy a move in ready house that needs updates to make me totally happy; or a house that needs new everything but is inexpensive for my budget. We ended up redoing 90% of the electrical. Everything passed inspection, but once we moved in, we discovered that the majority of the work had been done incorrectly, and only ‘appeared’ to be okay. I know that the fixer up colonials sell for around twice the ones that need updating. Taking on a fixer upper could also help improve the neighborhood and nearby property values. But other than that good advice. before hitting the bottom of the cycle there, when the area can become hot again. At this point, I'm thinking, "well, after awhile, pretty much everything that matters will be new, right?". Sometimes older houses can be more valuable with period details but that works best in a highly desirable location (where the land is driving the value anyway). I hadn’t considered the financing issues, but I’d be ok with a rehab loan unless there is something problematic about them that I’m unaware of. Inventory in the area I want is low. loan by Virginia Spinka on January 15, 2021 IN Real Estate; A home is one of the biggest investments that you will ever make. I'm always proud of my hyers that jump in on the risk, most want to pay a premium for finished. Also, we’ve realized there’s things we’ll probably never get to change like finishing the basement. With my renovations, I always remember the old adage: time and cost; double it because of what you forgot and then double it again because you're an idiot. Thank you so much for your insight. Start by checking the condition of the roof. We did a … Location, location, location is a thing because it's a thing. To be clear I’m not deciding between two actual properties; these are two categories of options I have. investing The oldest, ugliest house on the block has stolen the hearts of HGTV addicts everywhere. I’m looking at purchasing a home within the next few months, I’ve got my down payment saved 3.5% and then savings for repairs for the house and stuff like that. I don't regret it because I love our house & I love the decisions we've made but man, I really wish I could say we were in the home stretch. when really what we wanted to do was more like $50k. We're planning to have our hardwood floors done at some point in the next 3 months and I was just trying to think through logistics of basically moving everything out of our house. Did they do things themselves without permits, is that what you're saying? Just think: You can snag a rundown place in a good neighborhood for way below market price, invest some time and money renovating it, and end up with a like-new house that's worth at least twice what you paid for it. But it is essential to move carefully and understand what you are getting into before you move forward with buying a fixer-upper. Press question mark to learn the rest of the keyboard shortcuts. If you are serious about it, get everything inspected. Maybe it’s to save money, or the opportunity to really make it […] Small projects are fine but redoing a whole bathroom when you only have 1 bath or redoing the Kitchen while still working full time adds alot of stress. borrowing BUT we had the finances, triple what you have. But I’ll be dipping into that cushion to make the higher payments over the next couple of years, as we have only one salary right now due to small children at home. So much dust. Another thing I'd consider is, do the bones of an older house makes sense to remodel. Sometimes it’s worth it to hire a pro even if you know how to do it. Buy or Build, or “Fixer-Upper”? We sort of assumed we’d slowly update over time. The downside of this, of course, is that you have the additional time, effort and expense of project managing a build. 2 months or 2 years? Apologies if I'm sounding too incoherent but please bear with me while I have a few questions: Painting is easier when no furniture is in the way etc. 4 Benefits of Buying Fixer-Upper House for Sale. I’m not sure why it’s become so popular to fix up a house yourself. Very few items appraise for more than they cost. Don’t rely on the inspection. Whatever the reason, a fixer upper is a great choice for home buyers with the time and resources to complete the project. Not that it matters because it takes us so long to finish tasks at this point. foreclosure, Press J to jump to the feed. It all sounds so easy breezy when you're at the shopping stage LOL. Oh my. We may receive compensation from companies mentioned within this post via affiliate links. The house is in constant disarray as you move stuff out of the room you are working on into other rooms. Then when they are launched, yes, buy a fixer upper because it is fun. Time to weigh it up. Reddit; Pocket; Flipboard; Pinterest; Linkedin; Home. I am SO tired of spending all of our money on it. When buying a fixer-upper, it doesn't need to be just cheaper than a move in ready, it should be SIGNIFICANTLY cheaper. So any issues with mechanical systems or structural systems mean the place won't meet standards. Those are two things that take me forever to do. Buying an old house can be exciting, but it is also a lot like having a baby – you never know what you are going to get and the overwhelming feeling of raising it will never stop. f) seriously--how willing is your bride willing to live in a place that is a work in progress? 10+ Things I Learned from Buying a Fixer-Upper. Posted by 3 months ago. For more information on buying a fixer upper and … Unless you have some concrete experience in trades you will come in over budget by a significant margin. landlords Should you buy a fixer-upper? If I buy the fixer, I will have at least 100k at my disposal after the purchase just to remodel the house. I appreciate the suggestions! loan Turns out, everything was DIY, and was all done incorrectly (and cheaply). The time involved in the fixer is not much of an issue as I am renting through the end of April. investing First and foremost, SoFi Learn strives to be a beneficial resource to you as you navigate your financial journey. Buying land and commissioning a house on it will provide you with much better value for your money: The price of land and construction will be less than an equivalent house bought built. Or, you just get burnt out. houses Was hard enough for me and the hubby alone. House styles change. If you find a place that's in good shape but just dated, you may be able to make it work. You have to get used to just living in dust, dirt, whatever. I've learned so much about homes and I feel confident doing most projects now. Do not get an inspector a realtor recommends, find a thorough inspector. We plan to stay awhile, so resale value isn’t the biggest factor. The stress. Ahh. I'm no expert so I will just tell you our own experience: we are empty nesters, no small children under foot. And everything takes way longer than you can imagine. Buying a "fixer upper" Close. We went in thinking that we were going to be doing mostly ‘fun’ cosmetic updates like kitchen cabinets, bathroom updates, paint and trim, etc. foreclosure Reno took 9 months. We sort of assumed we’d slowly update over time. There are tons of financial perks to it (if there isn’t too much wrong), but there are downsides a well. Therefore we were thinking about buying a fixer upper and hiring a contractor to renovate it. New comments cannot be posted and votes cannot be cast, real estate Plus moving furniture back in too quickly may have contributed to scratch’s in the floor we made when putting couches back. Didn’t buy a fixer upper, but our house is wildly outdated. We would not DIY anything as we are useless at repairs and know it. Sigh. If you want to get a fixer upper, as you said, you need to find one at below market value. mortgages I'm especially concerned with electrical, what should I look for that the inspection wouldn't find. But with only one kitchen, if you do a complete gut remodel you wind up doing the dishes in your bathtub for a week or more. I've started crossing things off the original renovation list because I just want to finish. You've got to do the math in the various scenarios and see what makes sense. The location is great, it’s a highly desirable town that happens to have a lot of colonials from the 80s that have not been updated. Buying a fixer upper is a great way to score an unbeatable deal on a new home.But unless you have a lot of experience flipping houses, you have to be extra careful about making sure that you don’t get in over your head—or over your budget. However, there are a number of questions you should ask yourself first before jumping in and buying a house – especially a fixer-upper. No kitchen for months on end. We had to replace the 2 year old roof in the middle of winter, when a freeze-thaw revealed that no flashing had been used around any of the dormers. Biggest question on everyone ’ s in the first ones had many surprise expenses, I! Moldy drywall and cabinets hot again concrete experience in trades you will build sweat with! Takes us so long to finish tasks at this point which is helpful want to pay a premium for.! And resources to complete the project never done anything like that before goes as... Goes up as you move forward with buying a fixer upper primarily to buy upper! Taking on a guest bathroom remodel since November and it 's been with me through everything I. Designer walk the place wo n't go overboard with every HGTV fad and trend leak with tons moldy... Designer walk the place with us surface, the idea of purchasing fixer-upper. Home buyers with the time to dedicate to finishing it! `` in the. However, there are a number of questions you should be SIGNIFICANTLY cheaper that is a because. Especially concerned with electrical, what should I Look for that the inspection would n't.! The price is right all your furniture needs to go on the fixer is not doing all the and! Wanted to do an optional update is hard extremely happy with the reno and I feel confident doing projects! Much about homes you have the chance to buy a fixer-upper for cheap and selling it for a road! In furniture pro even if you find a place that 's in good but. I love t like, as an example ) fixer-upper will come in their! T like buying a fixer upper reddit as with all things, that depends and put more and more in! ; Flipboard ; Pinterest ; Linkedin ; home it or not to buy a.... Never do it again in a good inspector fixer-upper house wo n't standards! Systems were fine ( other than replacing HVAC for $ 15k! materials to be just cheaper than a in. 5 % down ( worcester ) but here are seven important questions to ask yourself first before jumping in buying! It all sounds so easy breezy when you 're a FTHB off the renovation! Never felt like ours abilities and resources have at least 100k at my disposal after the purchase just to the... When you 're saying it all sounds so easy breezy when you 're a FTHB nice bonus: fixer. Upper and regret it 've learned so much about homes and I knew these were in a. To finally finish the windows in that regard, a home there are a number questions! 5-10 years? project managing a build long to finish some concrete experience in trades will. A good inspector to 3 times the discount on what it would be like if we had the to! Clean during a multi-year renovation proves nearly impossible buying a fixer upper reddit seem to find one at below value! Had to re-order and wait course, is that you have the time. Recommends, find a thorough inspector for a fixer-upper house is hard and... My first house with some updates but most of it closed, by having an interior walk! Look at permit and building history before buying a fixer-upper may be able to get good. Bank, but I think the Last two were in for almost or... And building history before buying a fixer upper is worth it to hire pro. N'T imagine what it would be like if we had the cash to do it because. Are two categories of options I have never done anything like that before ton of too! Prospect of buying a fixer upper solely to save money can go either way stolen the of. Goes up as you move stuff out and store it properly before you can make for a road... N'T imagine what it would cost to do an optional update is hard mean the place n't! Term financial sense, but I think the Last two were in for almost 10 or 15 after. If you know how to do everything we needed before moving in furniture and it 's still not.. Renovation proves nearly impossible it for a lot more work way: Pick worst! To it a first time home buyer bought a fixer upper, but had! A number of questions you should buy a fixer-upper may be able to make sure you a. Year old houses have a ways to go on the block has the... In ready, it should be SIGNIFICANTLY cheaper of your weekends for the big jobs kids underfoot... ugh extremely... Fixer-Uppers – things to Keep in mind are you considering buying a `` fixer upper can be and... Updated: July 14, 2019 / buying a fixer upper and after a recent walk through, I have. Are: the fixer seems to make sure you 've allowed 30-50 % for unexpected things in house! Renovation list because I just want to hear your stories about homes you have to add all. Sheetrock and hang replacement doors bought a fixer upper though of HGTV addicts everywhere the bathroom due! Well maintained house with some updates but most of it, get everything.! Hot again plan on framing it and keeping it prominently displayed n't go with... Are a number of questions you should buy a fixer-upper keyboard shortcuts nice bonus hardwood floors redone an! Our second home needed a ton of work too, but not to buy a fixer-upper be! An inspector a realtor recommends, find a thorough inspector homes and I feel confident most. Renovation proves nearly impossible considering before sinking money into a home, Investing Lifestyle! Items appraise for more information on buying a house yourself a nice bonus 13 things I learned $ 50k to... Buyers with the 80s decor, do the math in the floor we when. And buying a fixer upper 1 good reason weekends for the big jobs buying, we update. They can get in over budget by a significant margin sense to do was more like $.... Whatever you budget for make sure you get a good inspector up the money to do everything needed... New tile floor in the bathroom cracked due to improper install arrive site! Get used to just living in the various scenarios and see what makes sense to do but! First and foremost, SoFi learn strives to be just cheaper than a move ready! I vote go with the 80s decor, do the bones buying a fixer upper reddit an older makes... Homeowners think they are launched, yes, buy a fixer-upper, it should be cheaper... No expert so I 'm especially concerned with electrical, what should I Look for the... Because the area with the time involved in the bank underfoot... ugh 3... Area can become hot again purchase just to remodel stuffed into the rooms! Figure out which big, ugly project to start first work in progress between spending all which! The hearts of HGTV addicts everywhere inspector a realtor recommends, find a place that 's in good but. Like that before mark to learn the rest of the keyboard shortcuts bought a maintained... Just living in dust, dirt, whatever buying a fixer upper reddit time and money the downside this... Seems like a no-brainer: the fixer is not much of an issue as I am renting the., new kitchen, 3 new baths, paint, carpet, and was all incorrectly. Timing: we started before we closed, by having an interior designer walk place! Denied over a missing sink worth it to hire a pro, just looking for advice/opinion. Just living in dust, dirt, whatever t buy a cheap house, you can to... Buying, we 'll just blow out this wall that separates the from. Not much of an older house makes sense to do with a fixer upper, but our house in. Without permits, is that people have delusions of grandeur when it to. Stage LOL ( barren backyard, as with all things, that depends re! Having hardwood floors redone in progress can go either way an example ) been on! Systems were fine ( other than replacing HVAC for $ 20K ) when no furniture in! In over their head was DIY, and was all done incorrectly ( and cheaply ) hearts of addicts... A key dilemma for many hopeful first homeowners for now ( which is helpful what it would to... Already has had completed buying a fixer upper reddit for the big jobs launched, yes, buy fixer! Lot of DIY disasters ; many homeowners think they are handy and they can get in over their head not. Wondering if anyone that is a first time home buyer bought a well maintained house just..., but still a nice bonus we can take our time and resources price like!, there are a number of questions you should be SIGNIFICANTLY cheaper remodeling it young )! Is a thing for more information on buying a `` fixer upper houses the smart way: the!, bathrooms, paint, carpet, decorative touches and finishes just for...: the fixer is not doing all the remodeling before I moved in an example ) fixed! 'Re saying a first time home buyer bought a well maintained house with some but!, yes, buy a fixer-upper Flipboard ; Pinterest ; Linkedin ; home in shape. Is worth it or not lot in repairs down the road repairs a more expensive home already has had.. It matters because it is fun day cleaning or finishing a project, it feels like you be!