Buying a fixer-upper can be a great way to save money when buying a house. After all, the condition a house is in directly affects its value. Of course, once the house is yours, you now have to deal with getting it fixed up.
No matter how you approach it, repairs are going to cost you money. So what can you do to save money when repairing a fixer-upper?
Kitchens are a critical part of any home and a major focus of home repairs. It’s one of the most-used rooms in a house and plays a major role in everyday life. It’s all too easy to blow your whole budget on outfitting your kitchen with the latest gadgets and appliances, but resist the temptation to do so. Identify the parts of your kitchen that need the most attention.
Do you need better kitchen lighting? Maybe your cabinets need a facelift. Perhaps the countertops need to be replaced. Save money by painting your cabinets and swapping out the pulls and knobs. Source your countertops from discount shops and warehouses. Replace the flooring yourself if you have the time and skill. All of that can save you money on a kitchen remodel.
Speaking of flooring, few areas of a house will show wear and tear like flooring does, especially in high-traffic areas. Depending on what flooring you want in your house, you may be looking at a major expense, especially if you want new-looking hardwood. Of course, true hardwood floors may still have some life left in them, even if they look a bit rough right now.
It may be worth repairing damaged hardwood floors instead of ripping them out. If you just want something new that looks good and doesn’t break the bank, however, consider luxury vinyl tiles. They’re an easy DIY project and can look deceptively like wood or stone.
It’s easy to focus on the interior of a fixer-upper. While that’s important, don’t neglect the exterior. Give your landscaping some love. Thoroughly clean your windows and siding. Consider repainting the exterior if it needs more than just a good cleaning. While you’re at it, pay attention to its condition. You can fix a lot of aesthetic issues with a thorough cleaning and coat of paint, but you may need more intensive repair work if you notice physical damage in multiple areas.
The hope when buying a fixer-upper is that you can save money when you buy the house and then can repair it for less than what you would have paid for it if it were in good shape in the first place. Accomplishing that requires careful planning and a lot of sweat equity on your part. If you do it right, however, you can save a decent amount of money all around when you buy the right fixer-upper.
Did you enjoy reading this article? Here’s more to read. What Your Kitchen Needs For Optimal Function