Fixing up a house

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treacheroustexan

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I'm sure some people here have done it... bought a house to fix up either to live in or flip. Gf and I watch way too much HGTV (I should state this line is more of a joke than anything) and have been inspired while we hunt for our first home and get out of an apartment. Were not 100% sold on a fixer upper project, but if we come across the right house with the potential we will go for it. Out of curiosity though, does anyone here have any stories/pictures/etc of a similar experience?
 
I'm living in an old house here in finland, in my case one that was built right after the war to house the refugees from karelia.

Someone did some modifications around the 80's, but that person was one of those "that'll do" diy'ers...so i'm constantly fixing things he screwed up..the original house is smallish, but very well built, the add-on is structurally sound, but the finishing off was done badly and required a lot of maintanance.

one thing you should look for is electrical and plumbing, if any renovation is done, and if it is up to code or grandfathered.

grandfathered stuff is fine if you don't want to change it, but gets really expensive if you do want to do anything.
 
I'm sure some people here have done it... bought a house to fix up either to live in or flip. Gf and I watch way too much HGTV and have been inspired while we hunt for our first home and get out of an apartment. Were not 100% sold on a fixer upper project, but if we come across the right house with the potential we will go for it. Out of curiosity though, does anyone here have any stories/pictures/etc of a similar experience?

My best advice for you is if your only experience with remodeling is TV shows, stop now. Don't dig yourself a hole that you're going to seriously regret.
 
My parents flipped a couple houses when I was a kid. It never ended well. It takes a lot of knowledge and expertise to actually make a profit doing it, and 90% of house projects end up taking way longer and being way more expensive than you ever bargained for.

In my mind, fixer-uppers are best left to Chip and Joanna. I'll never buy one unless I have a huge budget and unlimited time. I have built a new house from the ground up as part of a crew. It's hard work and easy to screw up. Remodeling is 3x harder.
 
My best advice for you is if your only experience with remodeling is TV shows, stop now. Don't dig yourself a hole that you're going to seriously regret.

Haha I completely understand what you're saying. It's not the only experience, but it does add some inspiration. I didn't mean for it to come off the way it did. But I will say I guess I'm mainly looking for a decent house (structure wise) and just looking to fix it up cosmetically.
 
I bought my house from a Mexican family and it looks good to the eye, but nightmares ensue trying to make everything the way it should be. Walls with no insulation, water heater and a/c unit built into closets with doorways too narrow to get them out, wires twisted together inside of walls and taped for insulation, an entire side of the house wired into one circuit with (5) 10awg wires twisted together in a light box, a hole knocked through a brick wall to run a new drain line because the existing one clogged up, ridge vents with no vent cut through the roof decking below it, and a barn distribution box wired up with a 2-10 direct bury cable as 220v using the ground as the neutral. Be very, very careful in what you view as a "fixer upper". Make sure your idea of a fixer upper isn't confined to drywall, flooring, paint, countertops, and a backsplash.
 
I know someone in the real estate industry who recently started buying ORE properties for cheap and flipping them. He started with some in small towns that needed minimal work to sell in that area. He recently got into one in the city and is going to lose money because the cost to fix was more than he originally thought, and overestimated the market value on the finished home. Not just the materials needed to get top dollar in the area, but the problems with plumbing, electrical, etc. that they came across when gutting. Shows like Flip or Flop make it seem easy, but also realize the shows are scripted. I would definitely make connections with people in the real estate and remodeling business before taking on a flip. Lots of factors to consider to determine ROE on a project.
 
I bought my house from a Mexican family and it looks good to the eye, but nightmares ensue trying to make everything the way it should be. Walls with no insulation, water heater and a/c unit built into closets with doorways too narrow to get them out, wires twisted together inside of walls and taped for insulation, an entire side of the house wired into one circuit with (5) 10awg wires twisted together in a light box, a hole knocked through a brick wall to run a new drain line because the existing one clogged up, ridge vents with no vent cut through the roof decking below it, and a barn distribution box wired up with a 2-10 direct bury cable as 220v using the ground as the neutral. Be very, very careful in what you view as a "fixer upper". Make sure your idea of a fixer upper isn't confined to drywall, flooring, paint, countertops, and a backsplash.

Sounds like a mess! But You forgot subway tile. Haha.

Thanks for all the input so far everyone!
 
Sounds like a mess! But You forgot subway tile. Haha.

Thanks for all the input so far everyone!

Subway tile in the bathrooms, but that was original and not their fault. It was also installed with asbestos plaster bed. That was fun.
 
Yes, I have flipped a few houses, yes, it is difficult. Yes, we do most of the work ourselves.

The money is made when you buy it, not sell it.

If you are looking at a house, look for a "fixer upper" not a "rehab project". Find one that is solid, just dated. Yeah, kitchen is out of date, but everything works, bathroom is out of date, but everything works, etc.

Then you don't have to rehab anything, and can take more time and call them projects.
 
Yes, I have flipped a few houses, yes, it is difficult. Yes, we do most of the work ourselves.

The money is made when you buy it, not sell it.

If you are looking at a house, look for a "fixer upper" not a "rehab project". Find one that is solid, just dated. Yeah, kitchen is out of date, but everything works, bathroom is out of date, but everything works, etc.

Then you don't have to rehab anything, and can take more time and call them projects.

Pretty much exactly what I had in mind! Thanks!
 
My house is from the 50's and it's in pretty good shape, that being said I've had to replace the windows, doors, pretty much every major system/appliance in the last 10 years, as well I've recreationally redone the basement, 3 bathrooms, the garage, and the kitchen, so keep in mind that even a house in 'good repair' can be a pain regarding ongoing upkeep, it sort of makes me long for a new construction house if only because they seem more modular and less 'artisan'. 'Oh look this thing over here that looks like it should just be an identical mirror of the thing 6 inches from it is instead installed in a strikingly different fashion... FML'.
 
Bought my first place last June and the wheels never stopped spinning in my Gfs head. New counter top turned into new cabinets turned into an entire new kitchen. Last thing in there is to finish the mosaic back splash, that stuff is annoying. The good part about it is that I got to put in new cabinets in the back to house a kegerator. Got a shiny two tap tower coming out of the quartz which looks great and is just all around awesome. Didn't even take any convincing.

Replaced every floor in the house and got to find some nice stale dog piss under the existing laminate trapped between it and the 30+ YO linoleum I had to scrape. You can't leave dog piss covered linoleum under a brand new floor. The usual painting and whatnot. The bathroom was another fun one. She wanted a tiled shower/tub. Took my dad and I a day to rip out this old fiberglass shower/tub that I'm sure they built the place around because we had to saw the thing in thirds to get it out and to get the new tub which was chipped and had to be replaced in. The only thing left in there from when we bought it was the toilet which was a pretty nice one. New tile, vanity, and lots of fun plumbing work to move things and update hardware. Got a lot of practice with copper re piping. Big hands in small places drives me to throw things and go have a beer. Last weekend I built out the master closet that I'll never get to use. Anyways, it was a lot of work and I still have to finish the baseboards but it has been really fun to see the changes I've been able to make to my place. It truly is a place catered to our style and wants. The hardest part was getting it able to live in before our lease for the rental was up. Living in the place while you're fixing it is rough because you need tools out but you still haven't moved in completely so there's no room to do anything. Doing all this after work and on weekends is exhausting. I'm just really glad there was no electrical work to do. I wouldn't do that myself and that can get pricey.

I'm not sure if you plan on doing all the fixing up yourself but if you are try and overlap with your apartment as long as you can to give yourself the time. Something can seem like it will be cosmetic but it wont fit right or you need to cut into your wall to move something or its 30 YO and you need to replace it because its not compatible with what you're putting in. A really good home inspector can be your best friend in determining if there are serious faults with your place.
 
i guess we all have similar experiences, just some more or less nightmare :D

we aren't picky and rather low budget, so I do what I can and it's more a fix what is broken thing than a real "want" remodel.

The place is a 2 apartement, previously owned by parents/adult son where the son had build a side room and new stairwell to split an old house in 2.
We are now renting out the other side untill we have more cash, so it's really cheap living while i fix what is broken and figure what is needed to do once we can empty one side.

If you aren't handy, pick something that was either built or refurbished(electic and plumbing) during the 90's or later.
 
Our first house was an acreage that we bought and we made it our own. Quick synopsis:
Bought at 82.5k
Put new flooring in the main floor ourselves, new carpet in the bedrooms ourselves, and finished the basement ourselves (framing, hanging drywall, mudding, taping.), did the flooring down their ourselves too. The only thing we hired out was the texturing of the dry wall and pulling duct work so we had AC in the basement. Sold it for 119k, and we certainly didn't have 37k worth of updates, maybe 6k? Profitable, but that wasn't why we bought it, just kind of lucked out.

The next house is the one we are in, bought it on the cheap. Took out knob and tube wiring from the upstairs, upgraded from fuse panel to circuit breakers, new floors in kitchen, new cabinets in kitchen, built a pantry in the kitchen. Gutted upstairs bathroom, all new plumbing and fixtures there, and new carpet in the hallway and bedrooms. Probably have 20k into this one, and we won't get our money back out of it, but it's super nice now. Joys of living in a small community with an extremely low cost of living.
 
If you don't have twice the budget and twice the timeline to spare, don't do it. I also don't recommend living in the place while your working on it. I own 4 rental properties (2 duplexes and 2 houses) and my brother is in in construction. We typically flip a house a year. Buying cheap is key, but also don't over remodel. Know your target price at completion is very important and make sure your budget/repairs can get you under the target price. I have seen many over-improve and then they wonder why they don't get their price. We have done everything from taking it down to the studs and totally rebuilding, to just painting and mowing the lawn before putting back on the market. Again, knowing the exit price and making sure repairs fit under that price is key.
 
Bought first townhouse as a remodel. New kitchen, floors, master bath, patio. Market had dropped by the time we were ready to upgrade. Also two estate sales killed the value. Barely broke even but it wasn't really a flip. Did all the work myself.
House #2: new geothermal, 29 windows, 2 ext doors, garage doors and insulation, rewired whole house (similar issues as shaky6), gutted half bath, basement refinished, bluestone patio. Contracted a lot out b/c small kids and time. Been a pain b/c it was built in '49 and everything ends up custom. Still gotta do the kitchen and another room before we're happy. It hopefully will be home for many more years.
More money in the NE burbs of philly only buys you a bigger place with more problems.
I would echo the same as everyone else's advice. Especially if it is not your primary job, doing your primary and remodeling gets old quick. Hiring it out is expensive but sometimes a necessity for sanity.
 
Oh yeah..forgot about repairing termite damage anytime we open up an exterior wall. Somewhat unavoidable in the area but more extensive than we thought.
 
I wouldn't try flipping unless I could buy very low in a quickly rising market. That's just me.


...but it's very rewarding to fix up your own place. Okay, now it's all fixed. Then what? You thrash it. Slowly at first, but continually increasing the rate of thrashment until you can't stand it anymore. You can't stand to fix it again either. You're stuck. So you live in squalor. Should you just sell it like that to someone who wants a fixer? If you do, you won't get what it's worth. So, you fix it up again just to sell it. Then, when it is all fixed up great, you sell it and wonder why you didn't fix it sooner so you could enjoy it. Now you bought another place, and it needs fixing. You're tired of fixing. So you live in squalor. You decide to spend all your time brewing and drinking and making up stories on the internet. ...or at least that's what happened to someone I know. Lesson: Buy new.
 
I wouldn't try flipping unless I could buy very low in a quickly rising market. That's just me.


...but it's very rewarding to fix up your own place. Okay, now it's all fixed. Then what? You thrash it. Slowly at first, but continually increasing the rate of thrashment until you can't stand it anymore. You can't stand to fix it again either. You're stuck. So you live in squalor. Should you just sell it like that to someone who wants a fixer? If you do, you won't get what it's worth. So, you fix it up again just to sell it. Then, when it is all fixed up great, you sell it and wonder why you didn't fix it sooner so you could enjoy it. Now you bought another place, and it needs fixing. You're tired of fixing. So you live in squalor. You decide to spend all your time brewing and drinking and making up stories on the internet. ...or at least that's what happened to someone I know. Lesson: Buy new.

This is way deeper than I ever imagined...hahaha.

Thanks again to everyone for your input!
 
The two that we did, we did basic stuff, nothing fancy. first one Fixed all the cracks in the drywall (did ourselves), updated vanities and toilets (ourselves), updated kitchen counters, cabinets were fine (contracted out) Painted Everything new, ceiling, trim, etc, correctly. spent hours and hours on the trim filling in the nail holes, etc. then contracted out flooring. Houses in the neighborhood were selling, but Slowly. (6 months), ours sold in a weekend priced higher than the others. right buyer, right time, done right.

The second we spent a lot more money on and made less, but still was a fun project. (redid cedar shingle siding. wife liked doing it, so okay, good). and then the similiar treatment above. It was in a more affluent location, so it would sell, but we actually did not do many things we wanted to. Outside perfect, 1st story was perfect, upstairs was tidied, but still dated. oh well, we walked away without a loss, and worried enough that we are not looking to do another unless it falls in our laps.

now my house, built in 1927, we just keep putting along doing what we need to, but waiting for the kids to move out, then we will gut and build it the way we want it.
 
Since this is HGTV inspired take a look at Property Brothers. They show the reality, in that there is always a costly problem found. Make sure you have an extra $10k - $20k available for the unseen problem that has to be fixed.
 
I still live in my starter house. 1910, 1950 addition. Half of the wiring was original, 1/4 1950 professional, 1/4 patch and mangle diy foolishness. The plumbing system was worse, some sewer line was original while the rest came from a parts bin installed by drunken squirrels and a couple lines professionally done in 1950. No insulation, and well aged 1970's and 80's furnace, aircon and water heater. Linoleum on linoleum on hardwood floors in the kitchen and bathrooms, an actual five layers of roofing; two shake shingle, one seriously thick wood grain blue asphalt, one green asphalt and one white asphalt. Beyond that, it had just been broken up into apartments and only partially fixed. Finally, some drainage issues caused foundation problems.
I spent two days entirely replacing the potable plumbing and fixing the wastewater that needed it the first month I owned it because it was so bad. The rest has been a continual thing, fix this and then that whenever I have time away from work, making repairs on the folk's place and friends' places.
Even as hard as it has been, I cannot imagine not wanting to do it again when I'm done. Not for some massive financial gain, but because it has just been such a great journey.
 
Yes, I have flipped a few houses, yes, it is difficult. Yes, we do most of the work ourselves.

The money is made when you buy it, not sell it.

If you are looking at a house, look for a "fixer upper" not a "rehab project". Find one that is solid, just dated. Yeah, kitchen is out of date, but everything works, bathroom is out of date, but everything works, etc.

Then you don't have to rehab anything, and can take more time and call them projects.


Agree with this! SWMBO and I bought our first house 4 years ago...built in 1952...solid bones good electric and pipes. We refinanced last year and are starting to fix it up. Blew out a wall with two windows and put a sliding door and built a deck outside.

This year we're redoing the outside stairs and walkway and buying a new stove (already have a new dishwasher and refrigerator because they conked out).

Next year, we're fixing up the kitchen...new counter tops and refinishing the pantry and cupboards (painting and new hardware). Once all of that is done we're gonna sell...we already have one baby and want to have another so we'll have outgrown the house...but we're adding value slowly but surely with all the upgrades.

Don't get yourself in over your head...believe it's going to be a headache and then some.

As my colleagues say at work...don't work harder work smarter! Same thing with a house!

:mug:
 
I can't recommend flipping. For that to work you have to buy something seriously dilapidated and most banks won't finance anything. And the work required if you are going to DIY everything, will require you quitting a full time job to turn it around in any reasonable amount of time.

Houses for the average person are a sound investment in the long run. I had an apartment I was dropping 1k in rent on. Then I bought a house fixed financing last year for 1200 a month that's 50% bigger. At least now, when I sell the place, I'll get some money back from the principle. Or I could even rent it out. With an apartment, you're just flushing cash down the drain.

My best advice is, if you haven't tackled alot of renovation.

1) Pick an area/neighborhood you want to live in (that's in your price range).
2) Pick the cheapest house in that area that has nothing majorly wrong with it (mold, termites, etc).
3) Make sure it is fully functional and live-in-able so you can tackle that kitchen over a few weekends... or do it last while you focus on the bathroom etc. (Especially since it's your first rodeo and everything is likely to take 2 and 3 times longer than it should cause you have to keep rewinding that you-tube video).
4) Start as soon as you can. These things take time and it's the long game. In 5 years you won't regret it. In 20 you'll say I wish I had started sooner...
 
Also... You always hear about people whining and moaning about the woes of owning a house... but you rarely see people moving back into apartments.. or switching from owning to renting.
 
I didn't read all of the comments so sorry if this is redundant. Pay for an inspection no matter what you buy, resale, new construction, whatever. With a good inspection you'll at least know what your getting into. I've found tons of stuff done wrong on new construction houses, definitely on the resales. You can also stipulate that any necessary repairs are part of the purchase agreement. Either way, good luck!
 
And always look any holes you can see and foundations etc.

If it's moist anywhere near a wall or foundation..walk away unless you are able and willing to do massive structural work.

It always pisses me off in remodel/renovation shows that homeowners are surprised when it goes over budget due to lax maintenance or "hidden" mold/asbestos etc....
 
Also... You always hear about people whining and moaning about the woes of owning a house... but you rarely see people moving back into apartments.. or switching from owning to renting.

Baby Boomers/emptynesters/retirees are driving the rental market in my area, both snow birders and half-backs. Almost all new construction (of commercial rental properties) in my area are marketed directly to them.
 
My 2 cents would be if you decide to fix it up, know what the market will bear. Don't fix it the way you would want it, but the way others in the neighborhood are done. You don't want the only Mercedes in a lot of pintos. Remember, the goal is to sell it more than you bought it for.
 
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