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re: At what point does a house become too much of a fixer upper that it’s restrictive?
Posted on 3/3/24 at 2:51 pm to grizzlylongcut
Posted on 3/3/24 at 2:51 pm to grizzlylongcut
Make sure before you do any renovations you fix the “guts”. We did something similar and fixed our house but it had polybutylene pipes in it. We didn’t change the pipes because they weren’t leaking but now insurance won’t cover any claims due to it. We are having to Repipe our house for $15k and that doesn’t even cover the drywall repair. Fun times.
0
Posted on 3/3/24 at 5:49 pm to TDsngumbo
quote:
I bought a fixer upper in 2016 because I couldn’t afford to buy a new house with a large yard in a good area of Ascension so I had to get an older home that needed lots of updates. It’s always a project with something to do. I’m just now getting to the point where I can start slowing down and enjoying life again so unless you hire out all the projects, be prepared to miss LOTS of family time. It’s very satisfying knowing you’re doing it yourself, though.
I have a similar story on mine that I bought 4 years ago. It's been a ton of work! It's finally winding down and I gained $250K in equity from my labor I put in. Also have a much cheaper mortgage than all my neighbors! I have no regrets but I would have been upside down if I had a contractor do all the reno work. Plan on being here for at least another decade, and whenever I do move it'll be into new contruction!
Posted on 3/3/24 at 6:28 pm to BayouBengalRubicon
quote:
Plan on being here for at least another decade, and whenever I do move it'll be into new contruction!
If we move again, which I'd say is likely, it won't be into a 40 yr old house
Posted on 3/3/24 at 6:30 pm to BayouBengalRubicon
The comment about top down is spot on. It is amazing what a fresh coat of paint on the walls can do for overall looks, and make it look fresh again. Cabinets and flooring can usually wait as long as they aren't rotten. But we repainted a bathroom, living room, and some hallways right when we moved into our place almost 20 years ago, and it felt like a totally different house just having lighter wall colors. After a while they fade into the background, but right when you repaint, it makes a big difference.
Posted on 3/3/24 at 6:42 pm to grizzlylongcut
Replace 3500 with 3800 and 1980s with 1970s and this is our current scenario.
We are going to be in around 100k for 3200sf of hardwood, me interior paint, new stairs and railing, new kitchen from the joists up and a complete exterior paint job.
The key is to find a good contractor who can do electrical, plumbing and send in the grunts to rip up backerboard for hours and hours all at the same rate.
We pay by the guy and the hours and mostly buy the materials ourselves but I have to stay on top of them and I've laid awake many night rethinking a project, worried that I missed something.
The good part is the price is great. The bad part is they literally only do what we tell them so we have to know where we're going.
AMA we are 2 months in and probably 3-4 weeks from completion.
ETA Amazon is your best friend during a remodel. Pro-tip go shopping at those bougie lighting stores where every fixture is $1k and take photos. Go home and start searching Amazon. You'll find just about any fixture you like for under $200 and even a dramatic crystal chandelier for like $600. Just be prepared to have your guys put them together or be ready to assemble them yourself.
Also nothing comes with bulbs anymore so take your time finding the perfect led style, wattage, white color level, will it dim, etc. you'll spend way more time on the bulbs than the fixtures.
Eta2 is it worth it? Absolutely. You will be so happy to make it YOUR house.
We are going to be in around 100k for 3200sf of hardwood, me interior paint, new stairs and railing, new kitchen from the joists up and a complete exterior paint job.
The key is to find a good contractor who can do electrical, plumbing and send in the grunts to rip up backerboard for hours and hours all at the same rate.
We pay by the guy and the hours and mostly buy the materials ourselves but I have to stay on top of them and I've laid awake many night rethinking a project, worried that I missed something.
The good part is the price is great. The bad part is they literally only do what we tell them so we have to know where we're going.
AMA we are 2 months in and probably 3-4 weeks from completion.
ETA Amazon is your best friend during a remodel. Pro-tip go shopping at those bougie lighting stores where every fixture is $1k and take photos. Go home and start searching Amazon. You'll find just about any fixture you like for under $200 and even a dramatic crystal chandelier for like $600. Just be prepared to have your guys put them together or be ready to assemble them yourself.
Also nothing comes with bulbs anymore so take your time finding the perfect led style, wattage, white color level, will it dim, etc. you'll spend way more time on the bulbs than the fixtures.
Eta2 is it worth it? Absolutely. You will be so happy to make it YOUR house.
This post was edited on 3/3/24 at 7:02 pm
Posted on 3/3/24 at 7:06 pm to grizzlylongcut
quote:do the major projects at the outset. Leave smaller projects like bathroom renovations for another time.
Did you do it all at one time?
We were only going to rip out all the carpets and do hardwood then we ended up having to do the kitchen. It's so worth it. I won't even go into what we found under the kitchen when we started but it's 100% worth the money.
We're going to be poor for awhile but it's worth it to be in your dream home.
Go for it.
Time is on your side.
This post was edited on 3/3/24 at 7:26 pm
Posted on 3/3/24 at 9:37 pm to grizzlylongcut
Bumped for editing
Posted on 3/4/24 at 11:07 am to grizzlylongcut
Have you considered asking a friend that is in construction to walk the house with you. Talk to him about what you and your family want to consider and ask him to give you an idea about a ballpark cost? Make it clear that you are not going to hold him to the price, just want to make sure you are not about to walk into more than you can chew.
Regarding one of your posts about not knowing why it's been on the market, have you asked the realtor/seller why? Ask if there were any other offers, any inspections, results of the inspections... I am not sure if they are required to disclose, but never hurts to ask.
Regarding one of your posts about not knowing why it's been on the market, have you asked the realtor/seller why? Ask if there were any other offers, any inspections, results of the inspections... I am not sure if they are required to disclose, but never hurts to ask.
Posted on 3/4/24 at 1:29 pm to grizzlylongcut
quote:
101 days, they’ve lowered the price twice. Listed it at $575K, then went to $565K, now at $550K
What are you thinking for your initial offer? $489, $499??
Posted on 3/6/24 at 9:11 am to grizzlylongcut
quote:
Last, are you a handyman. Not really…I can do all the basic things but I wouldn’t really trust may abilities to do anything major.
Then it will cost you to have someone else do the work. Second, if you do it, it will look like you did it.
My friends asked me to look at a house with them, you could tell the owner watched H&G TV. The finished jobs looked really bad.
Posted on 3/6/24 at 9:30 am to LSUDad
quote:
My friends asked me to look at a house with them, you could tell the owner watched H&G TV. The finished jobs looked really bad.
Funny how some people watch these type "House Flipping" shows and come away thinking "Gee, that looks easy, I could do that".
It almost always ends in disaster, especially if the people think they are the DIY type but really have no clue.
Posted on 3/6/24 at 11:02 am to grizzlylongcut
Is $550k under market value for a comparable house renovated in the neighborhood? Seems really cheap for a house in a Dallas suburb depending on the area. Which area are you talking?
If the foundation isn't failing, and the plumbing under the foundation is still in tact, it might be worth the consideration.
If the foundation isn't failing, and the plumbing under the foundation is still in tact, it might be worth the consideration.
Posted on 3/6/24 at 1:59 pm to grizzlylongcut
We did all of that. Took me 10 years of me doing some, paying others, and saving money. It had great bones, no electrical issues (aluminum wires), PVC plumbing. All the rest was just what we wanted.
Any house you move into you will 100% renovate. Might as well get a better built house from the 80s then the carboard some put up now
Any house you move into you will 100% renovate. Might as well get a better built house from the 80s then the carboard some put up now
Posted on 3/12/24 at 7:18 pm to WhiskeyThrottle
quote:
Is $550k under market value for a comparable house renovated in the neighborhood?
Very much so. Probably by over $150K at least if I had to guess.
quote:
Seems really cheap for a house in a Dallas suburb depending on the area. Which area are you talking?
I’m in Midlothian.
quote:
If the foundation isn't failing, and the plumbing under the foundation is still in tact, it might be worth the consideration.
Doesn’t seem to be any issues in the bones. But I haven’t checked. New HVAC, roof looks fairly new.
But I need to have a contractor walk the house with me next time.
Posted on 3/13/24 at 1:34 pm to grizzlylongcut
House next to me sold for 1.3 was a complete rebuild they put 600,000 into. To then try and sell at 2.45. Has now gone from that to 2.25 and now 2.085
I don’t think they are going to get it at all waste of money
I don’t think they are going to get it at all waste of money
Posted on 3/13/24 at 1:43 pm to Tvilletiger
quote:
House next to me sold for 1.3 was a complete rebuild they put 600,000 into. To then try and sell at 2.45. Has now gone from that to 2.25 and now 2.085
I don’t think they are going to get it at all waste of money
you have to make the house yours; put into it what you want and while you can certainly be smart about certain material and design choices, people who do things to flip houses seem to be all about surface-level in my experience.
i'm going to get out there with blood sweat and tears and run things by people on this board and overthink everything and spend extra on almost every aspect to 'do it right'. i think that shows if/when you sell the house.
i can't imagine myself giving as much of a shite if i knew i was just doing a flip.
Posted on 3/14/24 at 9:29 am to Tvilletiger
quote:
House next to me sold for 1.3 was a complete rebuild they put 600,000 into. To then try and sell at 2.45. Has now gone from that to 2.25 and now 2.085 I don’t think they are going to get it at all waste of money
This is not a flip situation. We would be living in this house possibly in perpetuity.
Posted on 3/14/24 at 9:40 am to CAD703X
quote:
i can't imagine myself giving as much of a shite if i knew i was just doing a flip.
You'd get your arse handed to you if you cared as much about a flip as your own home. Flips require a certain level of "IDGAF" or good luck making money on it.
Posted on 3/14/24 at 10:56 am to Turnblad85
quote:
You'd get your arse handed to you if you cared as much about a flip as your own home. Flips require a certain level of "IDGAF" or good luck making money on it.
this was never so clear to me as it became when i started noticing on these HGTV & Netflix flip/remodel/gimmick house reno shows that in the end, they put in cheap arse appliances and if you pause, you can see imperfections and issues all over the place.
never noticed that until i started really getting into remodeling and wondering why everything cost 5x as much as they claimed on these shows and these 2 week timelines for complete demolition was bullshite.
FAKE FAKE FAKE like everything else on TV.
oh and christina hall sucks. her designs are dated and she does the same shite on every remodel.
eta i think my favorite is one couple in CA wanted to knock out their patio french doors and add a 9ft long folding metal/glass wall and the contractor said "oh $7k for the bifolds and $2k for the demo & install"
i actually priced them locally here in the red south and didnt get a single quote back less than $20k.
This post was edited on 3/14/24 at 11:03 am
Posted on 3/14/24 at 2:28 pm to grizzlylongcut
quote:
This is not a flip situation. We would be living in this house possibly in perpetuity.
Consider location, there's only so much raw land and newer homes. So if the location is amazing then sometimes it is worth it.
I would suggest looking at the cost of a house you would be happy with currently. Look at this house, what's the price difference?
Now, take that difference and divide it by half because the time and effort and stress to do it is going to be immense. Then see if the numbers still make sense.
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