Buying a home can be one of the biggest decisions you make in your entire life. You could spend hundreds of thousands of dollars on a brand new home that is absolutely perfect and requires no work to be the home of your dreams. Or you could buy a fixer-upper and save hundreds of thousands and do some home remodeling projects that will turn your home into the dream home you always wanted.
There are multiple shows on TV these days about people buying older homes and fixing them up to sell, live in, or turn into income properties. The reason these shows have grown in popularity is that they show how little amounts of money can buy older homes and then remodel them into these gorgeous dream homes used for renting, selling or living spaces. Buying an older home can be a great decision if you can’t afford a whole bunch and would like to start some home remodeling projects. Whether you choose to keep or sell the home is entirely up to you but think about all the different ways you can remodel to make yourself some extra income.
Older homes can be major money pits if you are not careful. Try to learn a few things and do some research before jumping into anything as there are certain things to watch for in older homes that could cost you a lot more money and are not worth buying to remodel. Check out the electrical, plumbing, and foundation of the home to ensure everything is ok there as those can be huge money pits. A home remodeling of a gutted home is one thing but rebuilding a foundation, rewiring electrical and redoing plumbing is extremely pricey and there are a ton of other older homes that don’t have these severe problems.
You could choose to start small when buying an older home and get a cottage, cabin, or mobile home. When starting with smaller dwellings like these it gives you the opportunity to learn a few things before diving into huge home remodels. The projected total sales of home improvement retailers in the U.S. in 2019 is around $409.2 billion, grab a piece of that pie and begin your design build remodel journey as a homeowner. Home remodeling companies can give you some tips on what is worth your time and what you should pass on. Remodeling contractors can teach you some helpful tips that can save you money if you decide to try some DIY stuff later on.
