When you buy a home, it’s important to understand the scope of any repairs that are needed before you commit. Installing a roof, for example, is much different than cleaning up the landscaping. It’s essential to ensure you know what you are getting into by hiring an inspector you trust to give you all of the details. Today, I want to discuss what happens after you receive the report, and what you should consider when determining whether you can buy a house with renovation needs.
A vast majority of houses require some work, so you can expect to make some minor adjustments regardless of which house you buy. You may need to deep clean a carpet, paint a room, or do some weeding. Houses with this kind of work are perfect for just about anyone since it won’t take very long to get the home in good shape. Just keep in mind that the less work that needs to be done, the more the property may cost upfront. However, if you want a move-in-ready home and have the money to afford it, this could be a great option for you.
Another step up from the small touch-ups is the mild repairs. Houses in this category will need work that could need professionals, but can also occasionally be done by the homeowner. New flooring is a big one, and while homeowners should caution themselves before taking on this hefty project, experienced workers may be able to install flooring on their own. Surface mould removal and prevention is another common issue, as are holes in the walls, baseboards, and other places. If you need new appliances for the house to become functional, that falls within this category, too. People with a little more DIY experience or some extra money to spend on repairs are a good fit for these houses. Young couples may also be a great match if they are willing to take their time and learn how to make repairs the right way.
A house in this category will need some major work done, such as new roofing, large-scale plumbing repairs, electrical work, or major appliance replacements. Two unexpectedly difficult issues that also fall into this bucket are mould in the walls and pest removal. Depending on the scope of the issue, these can become costly very fast. Homeowners looking at these houses should anticipate making the repairs immediately and may want to factor that into an offer. They should also be comfortable with living elsewhere temporarily if the home is not safe.
Finally, complete renovations are for homes that require major structural changes. This could be due to a sinking foundation or weakening wooden frames, or it could be a style choice of the homeowners. If you plan to add an addition, knock down walls, or put in a pool, this is your category. Homeowners should expect to live away from their home while this work is done, hire professionals, and budget for any issues that occur along the way.
Different homes are perfect for different people. When buying your next home, consider what you can financially handle, as well as the impact on your lifestyle.