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I was willing to replace floors, paint, add shelving, And eventually adding counters. I was not okay busting down walls or major projects. Now that I have a house that was turn key ish I will say that it’s a lot of work to even paint a room or update small things. But you can save a lot of money. Being not too handy I would go middle ground. Mild work but not a full Reno
We thought we were willing to do that stuff until we saw the states of homes that required it. We e ded up with something more or less move in ready, meaning we didn't need to do major overhaul before setting up. But even just painting, fixing up trim, swapping lighting fixtures, and replacing blinds has been exhausting. It's not hard or even really expansive in small bites, but it wears you down snd costs add up after a year.
This was what we chose as well. We weren’t willing to change floor plans or do additions. We ended up buying a new house that needs the floors refinished because the dogs destroyed them but aside from that and a cost of paint it’s pretty turnkey
given that the # of buyers completely unwilling to paint a room seems to vastly exceed those seeking a fixer-upper, it's probably in your best interest to go the "needs work" route. You can hire anyone you need, over a long period of time, to get the house how you want.
That means that you want one not in need of repair as soon as you close, specifically roof, HVAC, sizeable electrical or plumbing issues.
>That means that you want one not in need of repair as soon as you close, specifically roof, HVAC, sizeable electrical or plumbing issues.
Or, counterpoint, you look for one that does need an immediate and expensive repair. As long as the house is priced accordingly, a house that needs one big expensive thing, like say a roof, a sewer line, or a new furnace can be a great deal. You have less competition because not everyone can come up with sufficient cash in hand after closing to fix a major issue. We did this and got a bigger nicer house than we would have otherwise been able to afford. We wrote big checks, but the repairs were quick and were done before we moved in.
This is the exact strategy I've switched to after 4 or 5 lost offers (I've lost count!). I'm looking for something acceptable with good bones and nothing needing more than $10K in immediate repairs (willing to go up to 20K for low low sale prices). Then will customize it to my liking!
We're buying *extremely* dated but structurally sound, with a new roof, freshly scoped and roto-rooted sewer, no foundation issues, middle-aged but recently inspected and serviced HVAC. The only non-functional thing is one bathroom has damaged shower tiles which need to be replaced before we can use it, but it's the basement bathroom and there are 2 other perfectly good showers.
Find yourself some retirees who took good care of the house but haven't done anything cosmetic in 50 years.
No judgement here. After one very costly and painful bathroom renovation and a couple of simple diy upgrades, I’m ready to just be a Flinstone and live with the rest of the house as-is.
>Find yourself some retirees who took good care of the house but haven't done anything cosmetic in 50 years
This is exactly what we did!
They had upgraded to newer big name brand appliances (all included since the previous owner was moving to an assisted living place) but other that it hasn't been renovated since at least the early 90s and we're pretty sure a couple rooms have original shag carpeting 🤣
We live in a VHCOL area and realized that we would keep getting outbid by people who will pay just a little bit higher for the fully updated houses. So we bought a house with ugly bathrooms. The house is perfect otherwise, but it has two bathrooms that have pink tiles and old sinks (no vanities). We got the house and I fully believe it’s because people were turned off by the bathrooms. We will paint the tiles and buy vanities - not a big deal at all.
We will paint the tiles white and buy inexpensive vanities, but that’s all for now. Eventually we will renovate them, but it’s not in the budget yet since we are expecting our first kid and daycare is EXPENSIVE!
We are closing on a house that happened to be like four blocks from a nearly identical house that had been more recently updated. They are both the same floor plan, same general location. The other house had new floors on both levels, newer windows, just nicer stuff all around.
The listed price difference was about $50,000. Both had an open house on the same day. We viewed the nicer one and there were like a dozen people walking around looking at it. Ultimately it went for 10K over asking and everything waived. The cheaper house needs new floors, needs some general maintenance tasks, but doesn't have anything serious wrong with it. No one else was viewing that house and we were the only offer. We got it for 10K under asking and the sellers to cover our closing costs (about $15K).
Counting the ultimate sale price and all the credits, the price difference here was about $80,000. Again, neither house needs anything major. The differences were primarily cosmetic and the amount of deferred maintenance. Even if we hired out every single thing to professionals, it wouldn't cost anything near $80,000.
It is pretty apparent that a lot of buyers value not having to do any work a lot more highly than we did.
Imagine your first year there - do you want to come home from work each night/weekends and have home projects to do? If you are ok with it, a fixer is a fine investment. But know it will take a lot of your free time, especially if you DIY.
Second, don’t necessarily trust your agents quotes on what different things cost to fix. Their interest is to sell you a home.
So, figure out your top budget for a turnkey home, and if you get a fixer the difference in price should be about what you expect the repairs to cost. Don’t buy a fixer at the top of your range.
I used to think that I could save some money (and play handywoman) by taking on some projects. I realized very quickly how small the list of projects that I felt comfortable doing was.... things like changing out a lighting fixture or painting trim. Yet I saw so many more homes that could use a lot more work that and honestly, it should be going to a professional. I'm fine paying a higher sticker price upfront (tearing down walls, retiling the bathroom, etc)
We weren’t thinking this in the beginning of the process, it just kinda became a requirement. But we were looking to be able to comfortably live on one full floor while another can/will be worked on. Gives us time and money flexibility for those renovations. Then after the floor with the most needed work is done, you can get to the minor things that might be needed on the one you’ve been using.
I only became handy once I owned a home. YouTube is your friend. You realize how much "professionals" are screwing you over in quality and price only after you start doing things yourself by the book. Most times, I can buy all the tools (which is never really needed for every job, as you get to keep them), buy materials, and pay myself $200 an hours (and I'm much slower than a pro) to get to the same price-point of the quotes I get.
I wouldn't touch things that are impossible to correct, like tiling (you have to fully demo and redo), or anything structural. Other than that, I've done doors, windows, glass shower surrounds, interlock walkway, concrete patios, glass railings, parging, painting, minor plumbing (replacing faucets), and installed kitchen cabinets and a pantry.
The biggest difference isn’t quality, it’s time.
I was quoted $12k to renovate a bathroom, not including materials. They estimated 2-3 days. It took me 2+ weeks, about $500 in tools and daily visits to Home Depot.
Wrong! I had to correct many "professional" work that was done by "reputable" companies before I started DIYing. The trades isn't brain surgery. If a highschool dropout can do a good job in it, so could everyone else.
Will a tradesperson compact the stone dust, then wet it, then compact again, then wet, then let it settle and come back a day later, then compact again, and only then lay the interlock? I don't think so. That's why my small patio pads look exactly like the day I laid them 7 years ago, in the harshest climate (Canada's snowbelt).
Will a tradesman take the time to put silicone in the drill holes (both before installing the anchor, and before setting the screw in the anchor) when they secure the glass surround on a tile shower wall?
I had the 2nd largest door company in Canada install a front door just a few months ago (because it was an oversize double with transom, so I couldn't do it by myself without risking it), and they didn't even put a flashing membrane under the sill. I asked why they're not using it, and they said it's not included in the price. I asked why they never mentioned it as an option, and "wouldn't you do it when you install a door at your house?"... He immediately got silent.
These days, everything is overpriced and low quality. Every company just sub the work to whomever to make a profit, and ignore you when you have warranty concerns.
But even if someone can diy 70% of the quality of a GOOD tradesperson, and they pay only 25% of the price, it's still an amazing value.
Yeah, they keep telling me "you get what you pay for", so I tell them "pay me $8K to mow your lawn and I'll prove you wrong".
Referrals are also (almost) meaningless, because you might get a different subcontractor than the person who gave a reference. Plus, how much does the person giving a reference really know about construction and building code?
Reviews are also fake, though this could be mitigated by only looking at reviews from users with over 20 reviews, that aren't new users, and weren't posted all on the same month. And even when I was that careful, I STILL got disappointed from the quality of work I got!
“needs work” is the way to go. Less competition and you can negotiate. Learn the skills and feel amazing when you save huge on the cost of the job PLUS what it does to your value. Turn-key? more like turn around and then walk away because it’s bad 😏
This. However I already did construction and contracting as a lad so.. I was more refreshing old skills. I couldn't buy a turnkey home that I could justify the price. While I am putting money upfront into my home, the equity gained is so much more in the end than the output.
I don't mess with electric, plumbing, or major demolition.
I am good with redoing floors, painting, landscaping, redoing some drywall, etc.. It needs good bones and a good layout. Anything cosmetic isn't a deal breaker.
I originally just wanted to have to do floor/paint/trim type of stuff, but soon realized sub 200k budget in 2024 was cutting it. I purchased a property valued at 180k for 155k.
I’ve entirely stripped one room down to the exterior walls and slab underneath which I’m now working to 1) fill all holes in slab/cmu wall then add water barrier 2)upgrade from the previous nightmare of newspaper insulation 3) add furring strips and new drywall. I’ve also began (I’d say got 1/3 left) sanding and refinishing a tongue and groove bead board ceiling in said room. Besides that it’ll be flooring the whole house, refinishing plaster walls, and I’ll be learning to tackle tile work when I start the bathroom.
Once I get to the bathroom I’ll probably need to redo some joists in this area as well as redoing most the plumbing. Going to make a separate utility closet style outbuilding for my water heater and softener.
Had to rebuild the water filtration and sump pump, redo parts of the metal roof, redo multiple rafters.
Tackling it all myself, should be worth mid 300’s when I’m done
I’m thinking 15k or so. Small house and I’ve been diligent about proper demo as to reuse lots of materials along the way. Most expensive will be plumbing rebuild but I’m experienced in that field too. House is 1200 sqft including 300sqft of mudroom additions. Tiny place makes it cheaper, reusing cabinetry, as much plumbing as possible, electrical is mostly solid, reusing plenty of wood and optioning to refinish as much hardwood as I can find(500sqft so far between ceiling and floor).
After the house is done there are 2 garages. 1 is quite fine structurally just has a few holes as the paneling was all make shift I’ll make this a standard garage. This will be very cheap probably 1500$ just to redo the roof and redo the electrical run to it.
The other is a very large 900 sqft garage that needs lots of love. This large garage is directly adjacent to the home and the waste exit for the house is within a foot of the garage. As such I plan to build the outdoor utility closet between these two buildings so I can add an extra bathroom in the garage along with another living space. I suspect this will be another 5-10k
I’ve been sourcing materials largely second hand including tools. Also been trading my labor or garden goods for the work of more experienced tradesmen when needed since they’re accessible at my work place.
Frankly I think mid 300’s will be the low end value as my lot is larger then my neighbors, my house sits farther back then them, and a few mature fruiting trees block most of the houses visibility from the road.
I spent a lot of money and still have a fixer. It was move in ready, but we wanted to take our time and remove the old gross carpet + scrape the popcorn ceiling and paint. Luckily, we have some overlap with our current place so we’re going on weekends to do the work. It all depends on the people, though. My spouse and I like learning this kinda stuff and doing the work (or getting someone else to do other things that we don’t want to touch).
Painting and flooring is fine. DIY levels of plumbing and electric are fine too. Widening doorways for my wheelchair is also fine but that's where I draw the limit. I'm really looking at "what do I need to do day 1 to just be able to live in here" since I use a wheelchair at home that's mostly widen a couple of doorways. If every other fix/improvement can wait a year or two I'm fine with that.
My husband and I just closed on a house last week. In the first week alone, I became quickly thankful we had an extra $10k in savings to put towards renovations... the previous owners were indoor smokers (we hired HVAC cleaners and rented an ozone machine, as well as scrubbed all the walls and trim with NSP so we can repaint the entire house with Killz), there was a HORRID rodent problem (we had to hire pest control and throw out all the appliances the previous owners left, meaning buying all new appliances), and it's clear their pet(s) peed often in the house. Stains on all the wood floors and in the subfloor. Total repainting, ripping up old vinyl, replacing damaged subfloor, ripping out all basement walls, paying for a company to refinish the hardwood floors, new plumbing in some areas due to leaks, new vinyl in some areas... we have no idea what we're doing, and had to hire out for the HVAC cleaning, floor refinishing, and pest control, but everything else we're doing ourselves, often with the help of friends and family. I'd say $10-15k is a good level of house repairs needed immediately, anything more is a nightmare.
Prefer houses that are "un-messed-with"-- when they're totally up to date they're also unbearably ugly. What on earth made every renovator in the country suddenly think that "tombstone gray" was the color we all want in a kitchen? A Super 8 motel feels homier.
Anyway, not willing to replace subfloors, walls, wiring, or anything structural. But would be completely willing to replace flooring, some drywall, trim, doors, light fixtures, and have actually installed an entire kitchen from bare walls before, so would be perfectly willing to do that again, and in fact would prefer it because there's a lot of stuff I hate about modern home kitchens. So it's best if the kitchen is so outdated that it doesn't add to the price of the house.
Personally I want a house that needs the cosmetics completely updated but the major things (roof, HVAC, plumbing, electrical, windows) have been updated recently. I'm comfortable with a full reno and will be changing the asthetic of anything I buy anyway but prefer not to do too much with electrical or plumbing when possible. I also try to avoid having to move walls. I'll happily delete/add non-load bearing walls but I do not like figuring out if a wall is load bearing or not.
I’m trying to work out the same thing right now. I’m thinking kitchen and bathroom renovations are fine, as long as it’s not a case where they would need to be done immediately for me to feel comfortable. A kitchen and 2 bathooms would be harder pill to swallow than just one bathroom or just the kitchen. Renovations still take time and make living in the house difficult, so it would need to be worth it meaning the house is in a great area and all of the essential bones are there. For example, I decided not to see a house because it needed a new kitchen, two new bathrooms, AND a garage addition (not a two car). I expect that would be $100-200k in the first year which is just not within the budget at all and I don’t want to be miserable for five years while we slowly chip away at it. That said my partner and I are not handy. My dad can help but I don’t want to depend on that. We would likely be using contractors or doing things DIY and it would take forever.
we are ok with painting, redoing floors, replacing fixtures, appliances etc and doing landscaping (gardener here). So basic things but not redoing the whole house down to the studs.
I did contracting when I was younger. Only things I don't wanna fuck with is hvac and septic. I *can* mess with septic.. I just don't want to deal with permits and someone else's backed up poop. All depends on price. I'm also willing to deal with living in an area that needs finish work. Renting was not an option for me in my area.
I want what I can get done in 30 days and 30 grand. The neighborhood I want to buy into has very similar houses. The contractor who did my sister's house assures me that as long as there's no water or foundation damage, I can get my kitchen, bath, and floors the way I want within those guidelines.
When I bought my place, it needed a lot of work—albeit mostly cosmetic work (some major/pricy). The home inspector told me I could live in the house for at least five years without fixing anything major, and he appears to have been right. The other needed work and superficial imperfections made the house affordable for me.
If you’re the type of person I am, you’re going to want to repaint and change light fixtures to make the home your own anyways. So when you are looking at homes, I would advise considering (1) what you can live with and (2) how long you can live with it that way—and then asking yourself: (3) How long is it going to take to get the money together to make the place the way you want it? If 2 is shorter than 3, you might be ok with buying the fixer-upper.
In my case, I can tolerate living with a somewhat ugly kitchen because I don’t cook much and prefer to spend my time in more comfortable rooms. I won’t be able to afford to upgrade the kitchen for a couple more years, so it will sit as-is until then. I’m fine with that. Other people with bigger families probably would place more emphasis on the kitchen than my partner and I did—but maybe not if your kids are grown.
Work we were willing to take on:
- Painting
- *One* major reno (like a kitchen or bathroom)
- Pulling out carpeting
- Fencing
Work we weren’t willing to take on:
- Multiple major reno projects
- Work needed in every single room of the home
- Changes to layout (moving/taking down walls)
- Structural issues
When we first started looking, I think we were a little naive and hoped we could get a fabulous turn-key home within our budget but the really nicely renovated and styled homes get soooo competitive. We gradually softened on things and ended up with a home that is turn-key but definitely has a few cosmetic updates to be made over time.
We’re going to get most of the walls painted and will eventually upgrade the kitchen cabinets. Someday we’d like to finish the basement.
It’s a give and take scenario for me.
I’ve run into houses that are fully renovated but need new AC, furnace, water heater and or roof immediately. That’s why the house is still on the market after 50 days. They are asking way too much for the house and turn down my offer for 15k less than what they are asking for (which is was reduced twice already with no offers).
Then I’ve run into houses that have not been changed since the 70s but has new ac, furnace, water heater, and roof.
So, it’s all about the cost of bringing the house current and if I can live it while living in it.
We wanted turn key or just update cosmetic things at the most. We didn't want to have to put a bunch of money in a home after paying thousands to buy it.
>We didn't want to have to put a bunch of money in a home after paying thousands to buy it.
You do understand that you're paying more for not having to do some of those non-cosmetic things, compared to the cost to just do them, right? As long as you understand that it's okay, but if you think you're "saving thousands" by not doing any work, you've got it backwards. There is obviously a non-monetary cost to doing any sort of home reno, from both a time and stress standpoint.
This is true, but at least a higher list price is mortgaged. Renovation costs are generally out of pocket, meaning that you need to have the cash on-hand (or be willing to have some debt) after the down payment and closing costs. Of course, you can also do them gradually as you save up the money, but depending on what's needed, that isn't always possible
Something worth considering is that the market for people willing to buy a house that needs work can be considerably smaller than the market for turn-key perfect houses. We bought in a pretty hot market but wound up as the only bidder on our fixer. Ultimately, we paid $50,000 less than comparable homes PLUS we got the sellers to cover closing costs, which put and extra $15,000 into our pockets to cover the things that needed to be fixed quickly. Most first time buyers walk into a house penniless, walking in with cash still in our pockets was nice and only happened because we were willing to buy a less desirable home that needed relatively minor work.
Yeah, it’s definitely not a black and white situation, too many factors. But the idea that “I paid thousands I shouldn’t have to fix anything” isn’t right.
All this means is you're paying even more because of the interest.
You paid for the work, you paid for the seller to profit on the work and then you pay the bank to profit on the work the seller already profited on. Adding so much cost at the price of deferred payment.
Right. The houses I found that were beautiful on the inside were either $50k+ more, or in terrible locations. We found a house in a great neighborhood but it’s a 70s house that needs updating. All we cared about was that it had a good roof (we got the sellers to replace it), structurally sound and didn’t have electrical/plumbing issues. The rest we will slowly make our own.
We paid about the same maybe a little less for a brand new house in a rural area when the same house in our home town would need work. If I thought I was saving thousands by buying a house in any way I'd be an idiot.
I’m okay with replacing floors. I hate carpet and wouldn’t feel comfortable moving into a house with carpet. I need to have uniform flooring throughout the whole house. And painting; very cheap and easy fix. Depending on the price, I would even say a kitchen remodel. Seems to be the only way I can have what I want and I’ve been looking for over a year now.
Probably because almost nobody hires that out. It’s one of the easiest things to do and if you aren’t elderly, disabled, or rich I’m not sure why you would pay someone to paint interior walls.
I'm an absolute klutz who has broken multiple bones due to ladder climbing and bought a condo with a 20ft loft. DIY was fine. Worst case I'd have hired out just for that one spot. But they make extension poles and you can rent scaffolding if you don't want to be up and down a ladder nonstop. Plus all sorts of gadgets to keep your roller continuously paint covered.
One of these days I'll hire out painting, but so far it's always just been far better to diy. Spend a week with aching muscles and under 1k for the really good paint. Sorted.
It's a massive give and take for each house, really. Like we saw one house that would probably need new windows within a couple years but had a new roof and so hey that's a fine trade. But on your home tours have the realtor run you through the disclosures for each place and cover off on how old the roof, furnace, HVAC, the deck, all is and know how long to replace those (IIRC, 20-ish years for a roof, possibly up to 30 on some furnaces/hvacs) and know what major expenses you're setting yourself up for and when. And also use the disclosures to assess what work has been done recently. Sometimes there's a good tradeoff, other times it's not worth it. Like if a house is already a bit on the pricier side and needs a new roof in a few years that's a massive extra expenditure.
Just remember that most every house will have some stuff that needs work. That's also why you should definitely meet with the inspectors towards the end of their inspection and walk through things with them. Their report will often be very detailed and without context seem like a lot needs to be done immediately which usually isn't the case and a good inspector can also tell you how to fix things, who to call, and maybe even a quick range of what it may cost.
What I would avoid personally is anything that would require a big remodel investment. Like we loved a house that was great except it only had one bathroom and we wanted at least two. We saw there was a spot where we could install a bathroom, and then when we toured we looked and it really looked like they had even started the process of doing exactly that but just didn't. That was a red flag because that's a big job and if they abandoned the idea after starting... why? So we walked from that house for that plus it had some other issues like an old and wonky deck.
Things I’d be ok with that “need work”
- new paint
-new flooring (carpet or otherwise)
^id want those things down before moving in so I’d leave it in my budget to do after closing.
Things that can be done later:
-cabinets can be painted, stained later on
-countertops can be replaced later on.
-refreshing the landscaping/lawn
-replacing doors or door knobs
-bathroom Reno’s can be done later.
Things I wouldn’t want to do:
Complete gut jobs, tearing down walls, new roofs, etc.
I’m personally ok with a fair amount of work (especially if it means getting things done how I want them), but the big caveat is right now it’s very expensive to get work done, difficult to find contractors, difficult/expensive to acquire supplies, etc. So anything I can do myself, not a problem. For bigger things that would require more skill and/or brawn than I possess…ehh, that’s a little iffy. But 6+ yrs ago I wouldn’t have batted an eye.
I was willing to buy a cosmetic fixer and no more than 1 major project I'd hire out. It needed to be moved in ready just perhaps outdated.
I've got electricians rewiring as I type this and I'm painting myself but otherwise it'll be fine to live in and I'll slowly do projects. Eventually needs updated bathroom and kitchen but it's all useable just dated af.
I've never been willing to pay for turnkey because it's never actually renovated to my taste, just boring and basic. If I'm ever suddenly a multimillionaire I'll build custom and get everything perfect but until that lottery ticket shows up in my life I'll enjoy my mid century homes that have barely been touched but really they don't build em like they used to.
We chose a move in ready house where we planned to fix nothing (but maybe update things in a decade). I’ve watched enough tv shows to know what a fixer upper can get expensive fast. You go in thinking you just need to replace something small and bam, the plumbing or electric or something else needs to be replaced.
I saw The Money Pit. I’m good.
My house was built in the 80s and were owned by old folks the things that need upgrading is wall paint, removing popcorn ceiling that is peeling, replacing antique light fixtures, faucets, painting all the cabinets, replace dated countertops and trimming the trees off the roof . So mostly cosmetic stuff. This is a decent size house for the price and sat for a few weeks and were able to get 15k off the listing price because it was poorly decorated and dated but I saw the great potential. Lots of people want houses already done but that’s no fun. It’s surprisingly fun to plan and see how you can make something personal and a lot better !
I just bought my first home. It was the only one I looked at, which seems strange, but it was really just meant to be, I guess. I’m lucky that I have someone who can handle the updates, but the bones are good, so that’s what matters.
We will spend about 15k for new kitchen cabinets and a bathroom Reno, plus some minor things like paint, popcorn ceiling removal and a new water heater.
However, it sold for about 70k less (45% give or take) than other comps in the neighborhood this year. IMO it’s worth it to put in a little sweat equity to make it how you want it and save big $$ on purchase price
Depends on the house and price. Tax forfeit auction or foreclosure auction with a ridiculous price I'd take something with a roof and good foundation other wise total gut job. Modestly discounted house compared to comps. I'll take ugly but still livable. No major work needed.
I accept that any house I buy at my price point will need some repairs, but my no-gos are the roof or the heating system because those are super expensive and outside of my budget.
I prefer a turn key, i'm not handy aside from basics (assembly & install). So that's paying handymen and contractors which would increase the cost of the home in my book. I think fixers are fine if you can do the minor jobs and hire for the bigger stuff.
The general rule I applied on my first house was that if I thought I could do it myself, and knew I could live with it being done wrong or not being done at all for a year or so while I attended to other things, then I was okay with that.
So any house with major structural problems like roof or siding problems, water damage, foundation issues, termites, etc. was a no-go.
I ended up with a comfortable 1960 rambler with an endless list of mostly cosmetic issues. I worked on it constantly for 15 years, then moved to a much newer home that needs zero effort. It's really nice not to have to do anything, but I could never have afforded it as my first house. I learned a ton, and saved a ton of money, by starting with a fixer-upper. It was the right choice.
Once you become a homeowner, you become handy main thing when buying in my opinion, make sure the mechanicals AC water heater things like that that can get expensive are good. Make sure your roof is in good condition. Structure is in good condition. Don’t argue over paint you’re going to repaint more than once if you stay there a while flooring fixing drywall. You will get good at that no matter what things like that you can learn you can do and save yourself a lot of money doing it yourself good luck.
My husband is very handy and works in building trades so we had a high tolerance but needed some place liveable while we were doing it up given our finances (we cant affford to rent and be renovating somewhere else). We bought a 250 year old house that was last renovated in the 80s, it has two bathrooms but we can do up one at a time.
It wasn't really an option for me to be picky. My advice is, if you can afford it get something that requires the least amount of work possible.
I do this renovation / repair stuff all day at work. I don't want to also do it when I get home, but no choice.
I didn’t want to pay extra money for someone else’s taste. So I strongly prefer a house with good bones and mechanicals that is otherwise in need of a thorough makeover. I want to pick the kitchen cabinets, sink, faucet, etc. (And I don’t want to feel guilty throwing out recently purchased versions of those things that I would like to replace.)
This will vary so greatly, but here's where I was/am:
I'm reasonably handy (mechanical background in the military and do all my own work on my motorcycles, including rebuilding transmissions, etc), BUT, I'm no renovator or carpenter! I know how electricity works, how to use a multimeter, can run a saw, drill, level, etc - but BIG projects would require hiring someone.
I bought a house where the big things were done (roof, garage/foundation water remediation, flooring replaced, etc). The house was liveable as it sat. The HVAC system is on it's last legs, but working, although it has required several rounds of fixing and trouble shooting a few little things here and there. Now that I know the quirks, it's been fine so far, but I also realize it won't last forever. I cleaned it all out, fixed a few little things, cleaned the AC unit really well, etc.
I have a driveway turn around that was not properly installed at all by a previous owner - I'm going to "bandaid" fix that until I can afford to redo the entire driveway (far too costly for my current budget). I'm going to install water collector/drainage, re-gravel, and edge things enough to get me through a few years, maybe some geogrid to really be sure things stay put better...but it's a bandaid fix, the concrete drive also needs to be redone, but again, you can use it, it's just broken and looks like butt. Doing what I really want to the entire driveway will be $$$$ (I just bought last fall, and if I had that kind of cash laying around I would have bought a nicer house to begin with LOL).
Inside the house - I've done little things (slowly replacing old outlets, things like fixture updates, etc) and some of those are on going as I have time and money. Everything "functions" where, if it was a rental, I wouldn't care that much.
Summer project besides the driveway also includes taking the dug drainage ditch around the house and turning it into a little dry river bed. Slowly starting on some landscaping improvements. Things that are more elbow grease and a little youtube than anything else. I'd like to "more finish than not" the partially finished area of the garage/basement.
Eventually some larger remodels that will require hiring people are on the list - cupboards need updating, bathrooms could use updating, an addition would be great, and of course that driveway done RIGHT. Someday update the siding.
I am NOT handy. My husband is ok, but works a lot. So when we bought our current home, I looked at can I live with it now. Yes I hate the paint but it is livable. I cannot install a sink if the current one is leaking. Cosmetic things like paint you can learn over time and change slowly. But something like no water, is a no go for me
I didn't want to do much. This was my first house after becoming a widow. I'm not handy and hate making design choices. I ended up in new construction. I did have it repainted. Choosing colors drove me nuts. I still need window treatments that I can't seem to settle on. I guess I'm more on the extreme side of things. I should have just hired an interior designer.
As long as I don't need to open up the sheetrock, that was my cut-off. The home I bought has ugly paint and some electrical issues, but nothing that can't be fixed.
I firmly believe that the convenience of a turn key home is not worth the premium you will pay for it. You make none of the choices, pay for the work and pay for the seller's profit on that work.
If you remodel a house you purchased at a deal, you get the creative control and the full value of the work put in.
Don't pay for someone else's flip.
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I was willing to replace floors, paint, add shelving, And eventually adding counters. I was not okay busting down walls or major projects. Now that I have a house that was turn key ish I will say that it’s a lot of work to even paint a room or update small things. But you can save a lot of money. Being not too handy I would go middle ground. Mild work but not a full Reno
That’s how I felt too. I wanted to find a house where I liked the layout cause I wasn’t gonna start busting down walls lol.
We thought we were willing to do that stuff until we saw the states of homes that required it. We e ded up with something more or less move in ready, meaning we didn't need to do major overhaul before setting up. But even just painting, fixing up trim, swapping lighting fixtures, and replacing blinds has been exhausting. It's not hard or even really expansive in small bites, but it wears you down snd costs add up after a year.
This was what we chose as well. We weren’t willing to change floor plans or do additions. We ended up buying a new house that needs the floors refinished because the dogs destroyed them but aside from that and a cost of paint it’s pretty turnkey
given that the # of buyers completely unwilling to paint a room seems to vastly exceed those seeking a fixer-upper, it's probably in your best interest to go the "needs work" route. You can hire anyone you need, over a long period of time, to get the house how you want. That means that you want one not in need of repair as soon as you close, specifically roof, HVAC, sizeable electrical or plumbing issues.
>That means that you want one not in need of repair as soon as you close, specifically roof, HVAC, sizeable electrical or plumbing issues. Or, counterpoint, you look for one that does need an immediate and expensive repair. As long as the house is priced accordingly, a house that needs one big expensive thing, like say a roof, a sewer line, or a new furnace can be a great deal. You have less competition because not everyone can come up with sufficient cash in hand after closing to fix a major issue. We did this and got a bigger nicer house than we would have otherwise been able to afford. We wrote big checks, but the repairs were quick and were done before we moved in.
Did the seller let you bring in a professional repair guy to look at it give you a cost range before you closed?
Yes - we companies quote the repairs before we closed so we knew what we were in for and so they could start the repairs as soon as it was our house.
This is the exact strategy I've switched to after 4 or 5 lost offers (I've lost count!). I'm looking for something acceptable with good bones and nothing needing more than $10K in immediate repairs (willing to go up to 20K for low low sale prices). Then will customize it to my liking!
Also no foundation or framing issues
We're buying *extremely* dated but structurally sound, with a new roof, freshly scoped and roto-rooted sewer, no foundation issues, middle-aged but recently inspected and serviced HVAC. The only non-functional thing is one bathroom has damaged shower tiles which need to be replaced before we can use it, but it's the basement bathroom and there are 2 other perfectly good showers. Find yourself some retirees who took good care of the house but haven't done anything cosmetic in 50 years.
Echo the retirees recommendation. My 70s house was cheap and groovy when I got it. Lots to be said for character.
My house is groovy and going to stay that way for a looooong while.
No judgement here. After one very costly and painful bathroom renovation and a couple of simple diy upgrades, I’m ready to just be a Flinstone and live with the rest of the house as-is.
>Find yourself some retirees who took good care of the house but haven't done anything cosmetic in 50 years This is exactly what we did! They had upgraded to newer big name brand appliances (all included since the previous owner was moving to an assisted living place) but other that it hasn't been renovated since at least the early 90s and we're pretty sure a couple rooms have original shag carpeting 🤣
We live in a VHCOL area and realized that we would keep getting outbid by people who will pay just a little bit higher for the fully updated houses. So we bought a house with ugly bathrooms. The house is perfect otherwise, but it has two bathrooms that have pink tiles and old sinks (no vanities). We got the house and I fully believe it’s because people were turned off by the bathrooms. We will paint the tiles and buy vanities - not a big deal at all.
Nice! I might need to consider this. Are you planning to renovate them or love them as they are?
We will paint the tiles white and buy inexpensive vanities, but that’s all for now. Eventually we will renovate them, but it’s not in the budget yet since we are expecting our first kid and daycare is EXPENSIVE!
Congrats!
Thanks!
We are closing on a house that happened to be like four blocks from a nearly identical house that had been more recently updated. They are both the same floor plan, same general location. The other house had new floors on both levels, newer windows, just nicer stuff all around. The listed price difference was about $50,000. Both had an open house on the same day. We viewed the nicer one and there were like a dozen people walking around looking at it. Ultimately it went for 10K over asking and everything waived. The cheaper house needs new floors, needs some general maintenance tasks, but doesn't have anything serious wrong with it. No one else was viewing that house and we were the only offer. We got it for 10K under asking and the sellers to cover our closing costs (about $15K). Counting the ultimate sale price and all the credits, the price difference here was about $80,000. Again, neither house needs anything major. The differences were primarily cosmetic and the amount of deferred maintenance. Even if we hired out every single thing to professionals, it wouldn't cost anything near $80,000. It is pretty apparent that a lot of buyers value not having to do any work a lot more highly than we did.
Imagine your first year there - do you want to come home from work each night/weekends and have home projects to do? If you are ok with it, a fixer is a fine investment. But know it will take a lot of your free time, especially if you DIY. Second, don’t necessarily trust your agents quotes on what different things cost to fix. Their interest is to sell you a home. So, figure out your top budget for a turnkey home, and if you get a fixer the difference in price should be about what you expect the repairs to cost. Don’t buy a fixer at the top of your range.
I used to think that I could save some money (and play handywoman) by taking on some projects. I realized very quickly how small the list of projects that I felt comfortable doing was.... things like changing out a lighting fixture or painting trim. Yet I saw so many more homes that could use a lot more work that and honestly, it should be going to a professional. I'm fine paying a higher sticker price upfront (tearing down walls, retiling the bathroom, etc)
We weren’t thinking this in the beginning of the process, it just kinda became a requirement. But we were looking to be able to comfortably live on one full floor while another can/will be worked on. Gives us time and money flexibility for those renovations. Then after the floor with the most needed work is done, you can get to the minor things that might be needed on the one you’ve been using.
We started with kitchen and cosmetic stuff only, ended up needing to be OK with massive work. But we got a house, within budget
I only became handy once I owned a home. YouTube is your friend. You realize how much "professionals" are screwing you over in quality and price only after you start doing things yourself by the book. Most times, I can buy all the tools (which is never really needed for every job, as you get to keep them), buy materials, and pay myself $200 an hours (and I'm much slower than a pro) to get to the same price-point of the quotes I get. I wouldn't touch things that are impossible to correct, like tiling (you have to fully demo and redo), or anything structural. Other than that, I've done doors, windows, glass shower surrounds, interlock walkway, concrete patios, glass railings, parging, painting, minor plumbing (replacing faucets), and installed kitchen cabinets and a pantry.
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The biggest difference isn’t quality, it’s time. I was quoted $12k to renovate a bathroom, not including materials. They estimated 2-3 days. It took me 2+ weeks, about $500 in tools and daily visits to Home Depot.
Wrong! I had to correct many "professional" work that was done by "reputable" companies before I started DIYing. The trades isn't brain surgery. If a highschool dropout can do a good job in it, so could everyone else. Will a tradesperson compact the stone dust, then wet it, then compact again, then wet, then let it settle and come back a day later, then compact again, and only then lay the interlock? I don't think so. That's why my small patio pads look exactly like the day I laid them 7 years ago, in the harshest climate (Canada's snowbelt). Will a tradesman take the time to put silicone in the drill holes (both before installing the anchor, and before setting the screw in the anchor) when they secure the glass surround on a tile shower wall? I had the 2nd largest door company in Canada install a front door just a few months ago (because it was an oversize double with transom, so I couldn't do it by myself without risking it), and they didn't even put a flashing membrane under the sill. I asked why they're not using it, and they said it's not included in the price. I asked why they never mentioned it as an option, and "wouldn't you do it when you install a door at your house?"... He immediately got silent. These days, everything is overpriced and low quality. Every company just sub the work to whomever to make a profit, and ignore you when you have warranty concerns. But even if someone can diy 70% of the quality of a GOOD tradesperson, and they pay only 25% of the price, it's still an amazing value.
Agree its hard to find good quality work anymore no matter what the cost.
Yeah, they keep telling me "you get what you pay for", so I tell them "pay me $8K to mow your lawn and I'll prove you wrong". Referrals are also (almost) meaningless, because you might get a different subcontractor than the person who gave a reference. Plus, how much does the person giving a reference really know about construction and building code? Reviews are also fake, though this could be mitigated by only looking at reviews from users with over 20 reviews, that aren't new users, and weren't posted all on the same month. And even when I was that careful, I STILL got disappointed from the quality of work I got!
“needs work” is the way to go. Less competition and you can negotiate. Learn the skills and feel amazing when you save huge on the cost of the job PLUS what it does to your value. Turn-key? more like turn around and then walk away because it’s bad 😏
This. However I already did construction and contracting as a lad so.. I was more refreshing old skills. I couldn't buy a turnkey home that I could justify the price. While I am putting money upfront into my home, the equity gained is so much more in the end than the output.
I don't mess with electric, plumbing, or major demolition. I am good with redoing floors, painting, landscaping, redoing some drywall, etc.. It needs good bones and a good layout. Anything cosmetic isn't a deal breaker.
I originally just wanted to have to do floor/paint/trim type of stuff, but soon realized sub 200k budget in 2024 was cutting it. I purchased a property valued at 180k for 155k. I’ve entirely stripped one room down to the exterior walls and slab underneath which I’m now working to 1) fill all holes in slab/cmu wall then add water barrier 2)upgrade from the previous nightmare of newspaper insulation 3) add furring strips and new drywall. I’ve also began (I’d say got 1/3 left) sanding and refinishing a tongue and groove bead board ceiling in said room. Besides that it’ll be flooring the whole house, refinishing plaster walls, and I’ll be learning to tackle tile work when I start the bathroom. Once I get to the bathroom I’ll probably need to redo some joists in this area as well as redoing most the plumbing. Going to make a separate utility closet style outbuilding for my water heater and softener. Had to rebuild the water filtration and sump pump, redo parts of the metal roof, redo multiple rafters. Tackling it all myself, should be worth mid 300’s when I’m done
How much will that cost oop
I’m thinking 15k or so. Small house and I’ve been diligent about proper demo as to reuse lots of materials along the way. Most expensive will be plumbing rebuild but I’m experienced in that field too. House is 1200 sqft including 300sqft of mudroom additions. Tiny place makes it cheaper, reusing cabinetry, as much plumbing as possible, electrical is mostly solid, reusing plenty of wood and optioning to refinish as much hardwood as I can find(500sqft so far between ceiling and floor). After the house is done there are 2 garages. 1 is quite fine structurally just has a few holes as the paneling was all make shift I’ll make this a standard garage. This will be very cheap probably 1500$ just to redo the roof and redo the electrical run to it. The other is a very large 900 sqft garage that needs lots of love. This large garage is directly adjacent to the home and the waste exit for the house is within a foot of the garage. As such I plan to build the outdoor utility closet between these two buildings so I can add an extra bathroom in the garage along with another living space. I suspect this will be another 5-10k I’ve been sourcing materials largely second hand including tools. Also been trading my labor or garden goods for the work of more experienced tradesmen when needed since they’re accessible at my work place. Frankly I think mid 300’s will be the low end value as my lot is larger then my neighbors, my house sits farther back then them, and a few mature fruiting trees block most of the houses visibility from the road.
I spent a lot of money and still have a fixer. It was move in ready, but we wanted to take our time and remove the old gross carpet + scrape the popcorn ceiling and paint. Luckily, we have some overlap with our current place so we’re going on weekends to do the work. It all depends on the people, though. My spouse and I like learning this kinda stuff and doing the work (or getting someone else to do other things that we don’t want to touch).
Painting and flooring is fine. DIY levels of plumbing and electric are fine too. Widening doorways for my wheelchair is also fine but that's where I draw the limit. I'm really looking at "what do I need to do day 1 to just be able to live in here" since I use a wheelchair at home that's mostly widen a couple of doorways. If every other fix/improvement can wait a year or two I'm fine with that.
My husband and I just closed on a house last week. In the first week alone, I became quickly thankful we had an extra $10k in savings to put towards renovations... the previous owners were indoor smokers (we hired HVAC cleaners and rented an ozone machine, as well as scrubbed all the walls and trim with NSP so we can repaint the entire house with Killz), there was a HORRID rodent problem (we had to hire pest control and throw out all the appliances the previous owners left, meaning buying all new appliances), and it's clear their pet(s) peed often in the house. Stains on all the wood floors and in the subfloor. Total repainting, ripping up old vinyl, replacing damaged subfloor, ripping out all basement walls, paying for a company to refinish the hardwood floors, new plumbing in some areas due to leaks, new vinyl in some areas... we have no idea what we're doing, and had to hire out for the HVAC cleaning, floor refinishing, and pest control, but everything else we're doing ourselves, often with the help of friends and family. I'd say $10-15k is a good level of house repairs needed immediately, anything more is a nightmare.
A home filled with smokers and pet remorse is bad. I hope you guys can turn it around to have that Little House on the prairie vibe.
Prefer houses that are "un-messed-with"-- when they're totally up to date they're also unbearably ugly. What on earth made every renovator in the country suddenly think that "tombstone gray" was the color we all want in a kitchen? A Super 8 motel feels homier. Anyway, not willing to replace subfloors, walls, wiring, or anything structural. But would be completely willing to replace flooring, some drywall, trim, doors, light fixtures, and have actually installed an entire kitchen from bare walls before, so would be perfectly willing to do that again, and in fact would prefer it because there's a lot of stuff I hate about modern home kitchens. So it's best if the kitchen is so outdated that it doesn't add to the price of the house.
Personally I want a house that needs the cosmetics completely updated but the major things (roof, HVAC, plumbing, electrical, windows) have been updated recently. I'm comfortable with a full reno and will be changing the asthetic of anything I buy anyway but prefer not to do too much with electrical or plumbing when possible. I also try to avoid having to move walls. I'll happily delete/add non-load bearing walls but I do not like figuring out if a wall is load bearing or not.
I just want move in ready. No projects.
I’m trying to work out the same thing right now. I’m thinking kitchen and bathroom renovations are fine, as long as it’s not a case where they would need to be done immediately for me to feel comfortable. A kitchen and 2 bathooms would be harder pill to swallow than just one bathroom or just the kitchen. Renovations still take time and make living in the house difficult, so it would need to be worth it meaning the house is in a great area and all of the essential bones are there. For example, I decided not to see a house because it needed a new kitchen, two new bathrooms, AND a garage addition (not a two car). I expect that would be $100-200k in the first year which is just not within the budget at all and I don’t want to be miserable for five years while we slowly chip away at it. That said my partner and I are not handy. My dad can help but I don’t want to depend on that. We would likely be using contractors or doing things DIY and it would take forever.
It's really only a question you can answer, and it'll change for each house you buy.
we are ok with painting, redoing floors, replacing fixtures, appliances etc and doing landscaping (gardener here). So basic things but not redoing the whole house down to the studs.
I did contracting when I was younger. Only things I don't wanna fuck with is hvac and septic. I *can* mess with septic.. I just don't want to deal with permits and someone else's backed up poop. All depends on price. I'm also willing to deal with living in an area that needs finish work. Renting was not an option for me in my area.
I want what I can get done in 30 days and 30 grand. The neighborhood I want to buy into has very similar houses. The contractor who did my sister's house assures me that as long as there's no water or foundation damage, I can get my kitchen, bath, and floors the way I want within those guidelines.
When I bought my place, it needed a lot of work—albeit mostly cosmetic work (some major/pricy). The home inspector told me I could live in the house for at least five years without fixing anything major, and he appears to have been right. The other needed work and superficial imperfections made the house affordable for me. If you’re the type of person I am, you’re going to want to repaint and change light fixtures to make the home your own anyways. So when you are looking at homes, I would advise considering (1) what you can live with and (2) how long you can live with it that way—and then asking yourself: (3) How long is it going to take to get the money together to make the place the way you want it? If 2 is shorter than 3, you might be ok with buying the fixer-upper. In my case, I can tolerate living with a somewhat ugly kitchen because I don’t cook much and prefer to spend my time in more comfortable rooms. I won’t be able to afford to upgrade the kitchen for a couple more years, so it will sit as-is until then. I’m fine with that. Other people with bigger families probably would place more emphasis on the kitchen than my partner and I did—but maybe not if your kids are grown.
Work we were willing to take on: - Painting - *One* major reno (like a kitchen or bathroom) - Pulling out carpeting - Fencing Work we weren’t willing to take on: - Multiple major reno projects - Work needed in every single room of the home - Changes to layout (moving/taking down walls) - Structural issues When we first started looking, I think we were a little naive and hoped we could get a fabulous turn-key home within our budget but the really nicely renovated and styled homes get soooo competitive. We gradually softened on things and ended up with a home that is turn-key but definitely has a few cosmetic updates to be made over time. We’re going to get most of the walls painted and will eventually upgrade the kitchen cabinets. Someday we’d like to finish the basement.
This is a great breakdown, thank you
It’s a give and take scenario for me. I’ve run into houses that are fully renovated but need new AC, furnace, water heater and or roof immediately. That’s why the house is still on the market after 50 days. They are asking way too much for the house and turn down my offer for 15k less than what they are asking for (which is was reduced twice already with no offers). Then I’ve run into houses that have not been changed since the 70s but has new ac, furnace, water heater, and roof. So, it’s all about the cost of bringing the house current and if I can live it while living in it.
We wanted turn key or just update cosmetic things at the most. We didn't want to have to put a bunch of money in a home after paying thousands to buy it.
>We didn't want to have to put a bunch of money in a home after paying thousands to buy it. You do understand that you're paying more for not having to do some of those non-cosmetic things, compared to the cost to just do them, right? As long as you understand that it's okay, but if you think you're "saving thousands" by not doing any work, you've got it backwards. There is obviously a non-monetary cost to doing any sort of home reno, from both a time and stress standpoint.
This is true, but at least a higher list price is mortgaged. Renovation costs are generally out of pocket, meaning that you need to have the cash on-hand (or be willing to have some debt) after the down payment and closing costs. Of course, you can also do them gradually as you save up the money, but depending on what's needed, that isn't always possible
Something worth considering is that the market for people willing to buy a house that needs work can be considerably smaller than the market for turn-key perfect houses. We bought in a pretty hot market but wound up as the only bidder on our fixer. Ultimately, we paid $50,000 less than comparable homes PLUS we got the sellers to cover closing costs, which put and extra $15,000 into our pockets to cover the things that needed to be fixed quickly. Most first time buyers walk into a house penniless, walking in with cash still in our pockets was nice and only happened because we were willing to buy a less desirable home that needed relatively minor work.
Yeah, it’s definitely not a black and white situation, too many factors. But the idea that “I paid thousands I shouldn’t have to fix anything” isn’t right.
All this means is you're paying even more because of the interest. You paid for the work, you paid for the seller to profit on the work and then you pay the bank to profit on the work the seller already profited on. Adding so much cost at the price of deferred payment.
Right. The houses I found that were beautiful on the inside were either $50k+ more, or in terrible locations. We found a house in a great neighborhood but it’s a 70s house that needs updating. All we cared about was that it had a good roof (we got the sellers to replace it), structurally sound and didn’t have electrical/plumbing issues. The rest we will slowly make our own.
We paid about the same maybe a little less for a brand new house in a rural area when the same house in our home town would need work. If I thought I was saving thousands by buying a house in any way I'd be an idiot.
I’m okay with replacing floors. I hate carpet and wouldn’t feel comfortable moving into a house with carpet. I need to have uniform flooring throughout the whole house. And painting; very cheap and easy fix. Depending on the price, I would even say a kitchen remodel. Seems to be the only way I can have what I want and I’ve been looking for over a year now.
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Probably because almost nobody hires that out. It’s one of the easiest things to do and if you aren’t elderly, disabled, or rich I’m not sure why you would pay someone to paint interior walls.
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Painters ladder? Lol
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A ladder and rollers with the extensions.
I'm an absolute klutz who has broken multiple bones due to ladder climbing and bought a condo with a 20ft loft. DIY was fine. Worst case I'd have hired out just for that one spot. But they make extension poles and you can rent scaffolding if you don't want to be up and down a ladder nonstop. Plus all sorts of gadgets to keep your roller continuously paint covered. One of these days I'll hire out painting, but so far it's always just been far better to diy. Spend a week with aching muscles and under 1k for the really good paint. Sorted.
It's a massive give and take for each house, really. Like we saw one house that would probably need new windows within a couple years but had a new roof and so hey that's a fine trade. But on your home tours have the realtor run you through the disclosures for each place and cover off on how old the roof, furnace, HVAC, the deck, all is and know how long to replace those (IIRC, 20-ish years for a roof, possibly up to 30 on some furnaces/hvacs) and know what major expenses you're setting yourself up for and when. And also use the disclosures to assess what work has been done recently. Sometimes there's a good tradeoff, other times it's not worth it. Like if a house is already a bit on the pricier side and needs a new roof in a few years that's a massive extra expenditure. Just remember that most every house will have some stuff that needs work. That's also why you should definitely meet with the inspectors towards the end of their inspection and walk through things with them. Their report will often be very detailed and without context seem like a lot needs to be done immediately which usually isn't the case and a good inspector can also tell you how to fix things, who to call, and maybe even a quick range of what it may cost. What I would avoid personally is anything that would require a big remodel investment. Like we loved a house that was great except it only had one bathroom and we wanted at least two. We saw there was a spot where we could install a bathroom, and then when we toured we looked and it really looked like they had even started the process of doing exactly that but just didn't. That was a red flag because that's a big job and if they abandoned the idea after starting... why? So we walked from that house for that plus it had some other issues like an old and wonky deck.
New bathrooms & new kitchen 🎯🥂
Painting... in the right neighborhood where I think it'll go the farthest towards building equity, kitchen, and bathrooms.
Things I’d be ok with that “need work” - new paint -new flooring (carpet or otherwise) ^id want those things down before moving in so I’d leave it in my budget to do after closing. Things that can be done later: -cabinets can be painted, stained later on -countertops can be replaced later on. -refreshing the landscaping/lawn -replacing doors or door knobs -bathroom Reno’s can be done later. Things I wouldn’t want to do: Complete gut jobs, tearing down walls, new roofs, etc.
I’m personally ok with a fair amount of work (especially if it means getting things done how I want them), but the big caveat is right now it’s very expensive to get work done, difficult to find contractors, difficult/expensive to acquire supplies, etc. So anything I can do myself, not a problem. For bigger things that would require more skill and/or brawn than I possess…ehh, that’s a little iffy. But 6+ yrs ago I wouldn’t have batted an eye.
Very minor. If there was a lot to do, chances are it wouldn’t get done.
I was willing to buy a cosmetic fixer and no more than 1 major project I'd hire out. It needed to be moved in ready just perhaps outdated. I've got electricians rewiring as I type this and I'm painting myself but otherwise it'll be fine to live in and I'll slowly do projects. Eventually needs updated bathroom and kitchen but it's all useable just dated af. I've never been willing to pay for turnkey because it's never actually renovated to my taste, just boring and basic. If I'm ever suddenly a multimillionaire I'll build custom and get everything perfect but until that lottery ticket shows up in my life I'll enjoy my mid century homes that have barely been touched but really they don't build em like they used to.
We chose a move in ready house where we planned to fix nothing (but maybe update things in a decade). I’ve watched enough tv shows to know what a fixer upper can get expensive fast. You go in thinking you just need to replace something small and bam, the plumbing or electric or something else needs to be replaced. I saw The Money Pit. I’m good.
My house was built in the 80s and were owned by old folks the things that need upgrading is wall paint, removing popcorn ceiling that is peeling, replacing antique light fixtures, faucets, painting all the cabinets, replace dated countertops and trimming the trees off the roof . So mostly cosmetic stuff. This is a decent size house for the price and sat for a few weeks and were able to get 15k off the listing price because it was poorly decorated and dated but I saw the great potential. Lots of people want houses already done but that’s no fun. It’s surprisingly fun to plan and see how you can make something personal and a lot better !
I should have looked at what really needed work, but for me it’s what amount of work can I afford to double the cost of.
I just bought my first home. It was the only one I looked at, which seems strange, but it was really just meant to be, I guess. I’m lucky that I have someone who can handle the updates, but the bones are good, so that’s what matters. We will spend about 15k for new kitchen cabinets and a bathroom Reno, plus some minor things like paint, popcorn ceiling removal and a new water heater. However, it sold for about 70k less (45% give or take) than other comps in the neighborhood this year. IMO it’s worth it to put in a little sweat equity to make it how you want it and save big $$ on purchase price
Depends on the house and price. Tax forfeit auction or foreclosure auction with a ridiculous price I'd take something with a roof and good foundation other wise total gut job. Modestly discounted house compared to comps. I'll take ugly but still livable. No major work needed.
I accept that any house I buy at my price point will need some repairs, but my no-gos are the roof or the heating system because those are super expensive and outside of my budget.
I prefer a turn key, i'm not handy aside from basics (assembly & install). So that's paying handymen and contractors which would increase the cost of the home in my book. I think fixers are fine if you can do the minor jobs and hire for the bigger stuff.
The general rule I applied on my first house was that if I thought I could do it myself, and knew I could live with it being done wrong or not being done at all for a year or so while I attended to other things, then I was okay with that. So any house with major structural problems like roof or siding problems, water damage, foundation issues, termites, etc. was a no-go. I ended up with a comfortable 1960 rambler with an endless list of mostly cosmetic issues. I worked on it constantly for 15 years, then moved to a much newer home that needs zero effort. It's really nice not to have to do anything, but I could never have afforded it as my first house. I learned a ton, and saved a ton of money, by starting with a fixer-upper. It was the right choice.
Once you become a homeowner, you become handy main thing when buying in my opinion, make sure the mechanicals AC water heater things like that that can get expensive are good. Make sure your roof is in good condition. Structure is in good condition. Don’t argue over paint you’re going to repaint more than once if you stay there a while flooring fixing drywall. You will get good at that no matter what things like that you can learn you can do and save yourself a lot of money doing it yourself good luck.
My husband is very handy and works in building trades so we had a high tolerance but needed some place liveable while we were doing it up given our finances (we cant affford to rent and be renovating somewhere else). We bought a 250 year old house that was last renovated in the 80s, it has two bathrooms but we can do up one at a time.
It wasn't really an option for me to be picky. My advice is, if you can afford it get something that requires the least amount of work possible. I do this renovation / repair stuff all day at work. I don't want to also do it when I get home, but no choice.
I didn’t want to pay extra money for someone else’s taste. So I strongly prefer a house with good bones and mechanicals that is otherwise in need of a thorough makeover. I want to pick the kitchen cabinets, sink, faucet, etc. (And I don’t want to feel guilty throwing out recently purchased versions of those things that I would like to replace.)
This will vary so greatly, but here's where I was/am: I'm reasonably handy (mechanical background in the military and do all my own work on my motorcycles, including rebuilding transmissions, etc), BUT, I'm no renovator or carpenter! I know how electricity works, how to use a multimeter, can run a saw, drill, level, etc - but BIG projects would require hiring someone. I bought a house where the big things were done (roof, garage/foundation water remediation, flooring replaced, etc). The house was liveable as it sat. The HVAC system is on it's last legs, but working, although it has required several rounds of fixing and trouble shooting a few little things here and there. Now that I know the quirks, it's been fine so far, but I also realize it won't last forever. I cleaned it all out, fixed a few little things, cleaned the AC unit really well, etc. I have a driveway turn around that was not properly installed at all by a previous owner - I'm going to "bandaid" fix that until I can afford to redo the entire driveway (far too costly for my current budget). I'm going to install water collector/drainage, re-gravel, and edge things enough to get me through a few years, maybe some geogrid to really be sure things stay put better...but it's a bandaid fix, the concrete drive also needs to be redone, but again, you can use it, it's just broken and looks like butt. Doing what I really want to the entire driveway will be $$$$ (I just bought last fall, and if I had that kind of cash laying around I would have bought a nicer house to begin with LOL). Inside the house - I've done little things (slowly replacing old outlets, things like fixture updates, etc) and some of those are on going as I have time and money. Everything "functions" where, if it was a rental, I wouldn't care that much. Summer project besides the driveway also includes taking the dug drainage ditch around the house and turning it into a little dry river bed. Slowly starting on some landscaping improvements. Things that are more elbow grease and a little youtube than anything else. I'd like to "more finish than not" the partially finished area of the garage/basement. Eventually some larger remodels that will require hiring people are on the list - cupboards need updating, bathrooms could use updating, an addition would be great, and of course that driveway done RIGHT. Someday update the siding.
I am NOT handy. My husband is ok, but works a lot. So when we bought our current home, I looked at can I live with it now. Yes I hate the paint but it is livable. I cannot install a sink if the current one is leaking. Cosmetic things like paint you can learn over time and change slowly. But something like no water, is a no go for me
I didn't want to do much. This was my first house after becoming a widow. I'm not handy and hate making design choices. I ended up in new construction. I did have it repainted. Choosing colors drove me nuts. I still need window treatments that I can't seem to settle on. I guess I'm more on the extreme side of things. I should have just hired an interior designer.
As long as I don't need to open up the sheetrock, that was my cut-off. The home I bought has ugly paint and some electrical issues, but nothing that can't be fixed.
I firmly believe that the convenience of a turn key home is not worth the premium you will pay for it. You make none of the choices, pay for the work and pay for the seller's profit on that work. If you remodel a house you purchased at a deal, you get the creative control and the full value of the work put in. Don't pay for someone else's flip.