Most design shows on television display old, outdated homes being ripped apart and put back together in a contemporary, flawless fashion. However, what many people don't know about fixing a home is it takes a lot of time, effort and patience. Many people buy homes and dream of fixing them up, but before you decide to buy a fixer upper, make sure you read some important information below.
Updating Homes Can Be Extremely Expensive. If you are planning on buying a home that needs a lot of work done, make sure you have enough money saved beforehand. If more than one room needs to be completely revamped, you should possibly consider buying a more expensive home with less to be fixed. Homes that need kitchen and bathroom remodeling jobs could come at a steep price. The average cost of a bathroom remodeling job these days is around $10,000 as the average cost of a kitchen is between $20,000 and $40,000.
Lead Paint and Other Materials Must Be a Remodeling Priority. If you are interested in buying a home that was built before the eighties, you have to assume that their may have been that lead paint used on the interior. Therefore, before any remodeling can be done, you must hire someone to remove the hazardous material. Lead paint and remodeling could lead to poisonous dust in the air that would be detrimental to anyones health. Most often found it can be found in insulation, but can also be in vinyl flooring, roofing and siding materials. The cost of removal can be up to $5,000.
Roof Replacement is easily forgettable. When buying a home, looking at the roof can be at the back of a lot of peoples minds. With older homes, the roof can be made with a material that may rotted. A rotted roof means water leakage and the possibility of it caving. The average cost of roof replacement is around $7,000.
Buying a fixer upper can be a good idea, but make sure you keep expenses in mind, before purchasing a home that you're unsure of.
