Amy P sent me a link to a blog post about DIY projects. After working for 6-1/2 years fixing up an old house and contemplating buying another DIY house, we have a lot of experience on these matters. Let me give you some advice.
I'm defining a DIY house as a house that has been owned by a granny who hasn't fixed anything in thirty years. We're talking old bathrooms, old kitchen, yucky wallpaper, yucky carpeting, possibly an old roof, ancient electricity, and an over grown yard. Why would anyone buy such a house? We would.
1. Why a DIY house is a good thing.
DIY houses are cheap. Most people look at stained wallpaper and do a U-turn out of the house. I like a bargain and I know how much it costs to fix things up, so it means that I can get a bigger house and a bigger yard for a cheaper price.
A DIY house, especially one that was built pre-war, was built by people who knew what they were doing. It will be solidly built and have spacious rooms. It will have cool details that are impossible to replicate today.
I prefer an older, bigger home to a newer, small home. We're looking at a lot of teeny houses, where the real estate agents promise us that we can put on a family room extension on the back. I hate those houses, because I've seen so many bad extensions that were put up without the help of an architect. Also, you lose your backyard with an extension. Steve and I love to garden, so the backyard is important to us.
2. Why a DIY house is a bad thing.
You have to ask yourself why a contractor didn't already snap that house up for a quick flip. Is there something terribly wrong with the place? Is it in a terrible location? A lot of older homes are built on busy streets or are too close to the town dump. If the location is bad, you'll have a hard time reselling the house later. You also will have to deal with traffic and the smells from the dump. Before you buy a DIY, you should spend a lot of time on Zillow looking at home prices on the street and hidden industrial areas. You never want to have the most expensive house on the block, so estimate the costs of rehabbing the place + the current cost of the house.
You have to have the time and the inclination to fix it up.
3. You have to have enough money to fix a house up.
When you buy a DIY house, you have to ask yourself if you can spend $100,000 to do the necessary repairs. If the house is cheap enough, it might be worth it. You also have to have enough money to heat the place and pay the taxes.
4. Projects that you can do yourself v. projects that you should pay professionals to do.
Painting is really easy. Learn how to do it right. Make sure you take the time to tape up woodwork and spackle holes. Again this is really easy, and it will save you a ton of money if you do it yourself. Steve can also replace ceiling light fixtures. I'm good at refinishing wood.
Most of these DIY homes can be made so much better with properly hung curtains and a good coat of paint. Getting rid of dusty ceiling fans is also a must. Pulling up overgrown shrubs and planting new ones is also really cheap and very easy to do.
But there are other projects that ordinary mortals cannot do on their own. A new roof costs $14,000. A new bathroom costs $12,000, but we just put one in for $5,000. It's possible to go cheaper on bathrooms and kitchens if you know what you're doing. Also, contractors are cheap right now.
Learn about plaster walls. When you want to put a nail in the wall, scotch tape the place first and then drill a hole.
5. Projects that should be done right away.
You have to deal with the invisible, but serious problems immediately. You'll know what the big problems are right away, because your bulldog inspector will give you all the bad news up front. The biggest enemy is water. It must be stopped. Leaky plumbing and a leaky roof have to be dealt with on day one or else you're looking at MAJOR problems.
The floor must be dealt with right away, before your furniture gets in the front door. Refinish the floors or replace carpeting immediately.
If you're planting new trees, put them in right away. They're inexpensive, but they need time to grow. You want to put them in at Year One, not Year Six.
Replace ancient and inefficient appliances with something from Sears.
You can't have your family living in a depressing place, so make it cheerful right away. Curtains from IKEA that are hung properly. My pet peeve is a curtain rod that is hammered into nice hardwood. You'll need to put a coat of paint everywhere. Bring in friends to help. It's also very inexpensive to have all your windows cleaned inside and out.
Clean out the gutters. Your basement will thank you.
Some people will say to upgrade the electricity right away, but we never did it. As long as I don't run the hairdryer, a computer and an air conditioner at the same time, there are no problems.
6. Projects that should be done last.
Other than a few new trees and the new shrubs that you put in yourself, leave the curb appeal stuff for last. Who cares what the neighbors think? Fix the bathrooms, before you put on aluminum siding.
Do not put in fancy kitchens or bathrooms immediately. All that granite and marble stuff is a waste of money in this housing market. Really.
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