Fixer Upper

[articx]

Has anyone ever purchased a fixer upper house, and either did renovations on it yourself, or hired other people do it?

[aflyingmonkey]

No.   But I purchased a brand new house that is 25 years old now & it seems like everything is falling apart & needs to be fixed all at once.  Some we do ourselves, some we hire people.    I think that is just the nature of a home owner.  Even a new house becomes a fixer upper... eventually.  Then it becomes always something.   

I would buy a fixer upper cheap, and fix it myself, over buying a flipper house that looks new, but they use inferior materials & do a rush job (like my neighbor's house) where I got to hear the flippers talk about how cheap they could pass it by.  Instead of fixing the drainage issue, they just chalked the cement with sealant for a temporary fix.... because as they said, they are going to be out of there in a month & just don't care. They did the entire house so cheaply & rushed.  Looks pretty.. but the people who think they got a nice fresh house, are going to be in a rude awakening that things aren't as they seem. 

[snuggleycutejc]

I am living in my fixer upper, crappy house.

[oldbuddy]

I bought a fixer upper in 1972 that was really bad. The two bedrooms in the attic were so full of trash it took me days to haul it to the dump. The toilet was leaking so bad it rotted the floor in the bathroom, but fortunately it had 5 layers of linoleum so the underfloor was OK. The well was a 10 foot square hole covered with green scum and had dead mice floating in it. There was a crack between the living room and kitchen that you could see the dirt through. The kitchen counter was rotted clear through and couldn't be used.

We were nearly broke and just married, so we put $500 down and paid $100 a month until we could get it fixed enough to be marketable and sold it again for a $2,000 profit after our repair costs. That was enough to give us a start, so we snowballed that into the $200,000 house we live in now and a business building we sold for $185,000 that we hold the contract on, to add to our retirement income.

[Tresbn00]

I have purchased numerous fixer uppers, all over the country, and learned how to do a lot of the repairs myself which transcended into doing most of the repairs at my primary residence. I can no longer hire out to electricians, painters or drywall repair people. I need to attempt plumbing before calling in an expert (plumbers sometimes cost more than lawyers-but are often worth more). I have never sold a home at a loss.  Even when the economy was in the tank and housing dropped to all time lows I was able to turn a profit. I bought my first duplex at age nineteen.  It was a 1929 bungalow that was in immaculate shape and I was able to buy it for thirty thousand dollars under the market rate for the neighborhood.  If you are thinking about taking the plunge I would recommend buying a HUD foreclosure.  They are typically priced at ten-twenty percent under market because they need work.

[ricdsm]

I am not very talented in that area.

[sak4kat]

My husband and I are adamant about moving out of this crappy apartment we've been in for 4 years.  The intention was to move in it to save money.  We didn't start saving anything till last April... and we've come to a point now asking ourselves... apartment living, rent a house or just buy something.  Ugh - the pressure of making grown up decisions.

[oldbuddy]

My husband and I are adamant about moving out of this crappy apartment we've been in for 4 years.  The intention was to move in it to save money.  We didn't start saving anything till last April... and we've come to a point now asking ourselves... apartment living, rent a house or just buy something.  Ugh - the pressure of making grown up decisions.

My favorite saying when considering this question is, "They ain't makin' no more dirt". Real Estate always has and always will be the best investment around (as long as you keep tuned in).

[UGetPaid]

I moved into a fixer upper when I married my wife 10 years ago.  She had lived there for about 15 years with her then 14 year old.  Together, we have renovated many of the rooms (most have just been wall repair/wallpaper removal and paint jobs).  The first room we repaired in the summer of 2006 when we turned a dusty computer room into a nursery complete with a neutral yellow (we didn't know until the 'big day' that it was a girl!) and Winnie the Pooh paint stencil around the entire perimeter.  After that, we redid all the walls in the living room (a nasty hot mess removing wallpaper) and added carpet where there used to only be ugly brown linoleum and repainted the kitchen.


We did a COMPLETE kitchen remodel and full house replacement windows about two years ago, adding a dishwasher and new stove/fridge/cabinets and countertops.  That's also when we converted the house from fuses to circuit breakers.


Just last weekend, our 9 year old's yellow Pooh walls were repainted a light orange and the spare room that the 24 year old (now living in south Florida) used to occupy is up for painting a light green to make room for a new desk and computer station.


We have two room left: the bathroom needs an overhaul.  Although beautiful, the clawfoot bathtub is not very practical considering the add-on shower assembly is not ideal and the unsecured shower curtain is always poised to come crashing down on anyone who is not used to using it!  So when the money materializes, our [only] bathroom is in dire need of a full remodel.  That will then leave only the master bedroom walls which need wallpaper stripped, cracks repaired, and repainted; and the front entry hallway (with nasty popcorn textured walls) to be redone before it is completely overhauled from 2005.


Hopefully by then we will be in a position to sell the place and move into/build our dream home!

[nannycoe1]

Yes and I regret it

[vickysue]

We are living in one right now.  Have put a new metal roof on it, and all but 2 windows have been replaced,  a new toilet and vanity in the bathroom, Two more windows are in my shop right now. Waiting for nice weather. Although we have been waiting for 6 months. Hubby never gets in a hurry. But once I start grousing about it and telling him I am going to call a contractor to do it he gets going. Next will come pulling up this crappy carpet. But I will have to wear a mask and be able to have windows open. And it will be gone. the painting I don't need to worry about. I will do it.  the outside will have a new coat of texture  on it this spring. and yes a contractor will be doing it. I have not quite decided on whether I want new carpet put down or tile it.  I like tile better but it is not as warm. Then we will be through.

[southernhorizons]

I am currently looking to buy a fixer-upper in VA. I like the idea of giving a broken down house a fresh start, and I'll be able to decorate the way I want to. I have brothers who are into construction and stuff like that, so hopefully I can get a discount. I can't do the heavy stuff, but interior remodeling I should be able to handle.

[oldbuddy]

I am currently looking to buy a fixer-upper in VA. I like the idea of giving a broken down house a fresh start, and I'll be able to decorate the way I want to. I have brothers who are into construction and stuff like that, so hopefully I can get a discount. I can't do the heavy stuff, but interior remodeling I should be able to handle.

I don't know if you realized this, but live in it while you fix it up for at least 2 years and you can keep the profits tax free.

[alice44]

We use to buy houses and had them repaired by someone else.  You need to watch that the repairs aren't so much you lose your profit.

[oldbuddy]

We use to buy houses and had them repaired by someone else.  You need to watch that the repairs aren't so much you lose your profit.

That's true whenever you sell anything.