My husband and I are eyeing a house that has solid potential but definitely needs work, all situated on a stunning 1.2-acre lot. It's listed at $400k in a developing neighborhood, which seems pretty cheap compared to the recent sale of a nearby home for $800k. The property has gorgeous mountain and city views, a lovely garden, a deck with a view, and even a small creek and pond—everything I've dreamed of! We're planning to invest around $200k over the next two years, but we're wondering if we're biting off more than we can chew. We have experience with small renovations but nothing on this scale, and we'll be hiring pros for the heavy lifting. What advice do you have for someone considering this path? Are there any crucial inspections we should consider beyond the usual plumbing and mold checks? Also, what kind of dealbreakers should we look out for?
3 Answers
Go for it! If the house has good bones and matches what you want, you can definitely make it your own over time. Just be patient and be ready for the fact that renovations can take longer than expected. Factor in all the costs that might not seem obvious at first, like permits and hiring subs. Just start small and enjoy the journey of making a home that's truly yours!
Honestly, it sounds like a lot of work, and I think you need to consider how living in a house that’s a constant work-in-progress can really wear you down. We bought a house that needed some updates, and it quickly became overwhelming to manage everything, especially if you plan to live there while renovating. So, definitely make sure the house is at least livable right away if you decide to go through with it!
I was thinking the same thing! Once you start renovations, you might end up living in chaos longer than you expect. It's worth it to have a place you feel comfortable in from the get-go!
I think the price suggests some underlying issues, but that doesn’t mean you should run away just yet. I'd recommend getting a structural engineer to take a closer look at everything, including the HVAC and plumbing systems. This can help you get a clearer understanding of what you might need to fix, potentially saving you a lot of time and money in the long run!
Great point! It’s always better to be prepped than surprised. If structural issues come up later, it can derail your plans and budget.
Yep, taking it step-by-step sounds like a solid plan! You can definitely do some easy fixes while planning the bigger projects, as long as the essentials (like the foundation and roof) are sound.