Do you have the dream to own your own house? Owning a home is an exciting process but it’s one that can start out pretty stressful. Finding the financing for the home can be a hard process. On top of that you also need to worry about the money you will invest into the home to make it look nicer and to be your style. Some people love to buy and flip homes where others do not. If you think you can get a better deal buying a home that needs some work, you should look at the types of loans that are available. An Oregon FHA streamline loan might be a smart decision for you as it allows you to have money to repair the home and make it look nice and new.
Where do you begin on an older home? That is a good question as everyone has a different priority. Determine what you can and cannot live with in the existing home. Some people find that the kitchen must be redone no matter what. This is going to be an expensive investment and one you need to carefully consider when it comes to buying a dump and fixing it up. You might be able to repair all of the problems with the rest of the home for the same price as a new kitchen. Consider using the existing cabinets and refinishing them as this will be able to give the kitchen a new look.
Flooring is something that you need to focus on. You need to look at the costs of various flooring options. Laminate flooring, tile, and carpeting are the most popular options. Some companies like The Home Depot and Lowe’s will give you a credit card with 0% interest for 6-12 months if you do want to use this method to buy the flooring materials you need.
Renovating a home is a long process. Give yourself plenty of time to work on the home before you move into it. This will allow you to be able to actually have the home fixed up and livable before you are trying to paint and to work around your living situation. Renovate with the right type of contractors as well. Having the right people to work with will be able to save you money. Some people may even work out a trade deal with you depending upon what type of work you do and can offer to them.
Just remember that this is a process and it is an expensive investment! If you are not prepared to work on the home and deal with all of the repairs and initial investment, buying an older home and fixing it up may not be in your best interest.
I would love to buy a really old home and and do a major renovation. Great post.
I used to want to be able to buy the houses that need work to make an investment. Now that I own my own home and have dealt the the problems I have, I sometimes want a new house.
Sounds great!
I would love to renovate my kitchen.
I have an older home (1959) and we have SO much work to do…but it’s so small that it will never really be our dream home.
I would love to be a fixer-upper but not sure if I would be up to fixing it up, lol.
My house is a fixer upper, I’m excited to work more on it.
I dont think I have the patience for a home renovation. I would have to be a millionaire so I could hire people to do the work for me
We remodeled almost all of our house and we did it ourselves. For our next home I’m hiring someone, lol.
I wish I could do all that fixing up, but I’m a turn key kinda gal. 🙁
I’ve always thought about flipping a house, just never really done it.
It’s always nice when you don’t have to live in the place you are renovating. Talk about stress!
One of my favorite shows is Property Brothers, where they buy fixer uppers and turn them into people’s dream homes.
I’d love to renovate my house.
Too much for me!! lol
I had to renovate my old kitchen for it to sell
Great post!
I wish I had the money to make it a dream house.
Kitchens are so expensive — we have some work that needs done in ours but there’s just no way to do it all at once.
I don’t think I’m up to renovating a home– it’s a lot of work, time and money.
I know so many people love fixer uppers but I hope to find a home that is move in ready! I just can’t deal with picking out tiles and paints and what not!
I don’t think I would have the patience for a fixer upper I like things done right away.
I was JUST looking at REO auctions and thinking about buying a vacation home to fix up in New England.
We just redid three rooms of our home not too long ago, we still have several more to go though.
we’ve been working on several projects too
It’s such a long process, but you gave some great tips.
Thanks for the information.
It’s so expensive now a days to fix anything. Great tips!!
We’ve used FHA twice
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