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Fixer Up-er house

posted 10th Mar

Anyone bought a fixer up-er house? How did it go for you? SO and I have found a 4 bedroom house in a great location with an amazing yard and it even has another 1 bedroom small house that could be rented out for income. The bad part is that the house needs a good amount of work put into it. Just looking for some insight from anyone who has done house renovations.

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I'm TTC since October '11, have 1 child & live in California

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A&J. ♥

5294 posts

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posted 10th Mar

Is the income property good enough to rent out as it is while you renovate your own home?

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I have 1 child & live in Philadelphia, Pennsylvania

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ILOVEWINE10208 posts

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posted 10th Mar

It depends what needs to be done. Bathrooms and kitchens are very expensive to do. But if you have the extra cash like 15-30k then it can work really nice.

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I have 2 kids & live in Sweden

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dbailey

3452 posts

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posted 10th Mar

Do either of you know how to do stuff like that? We've looked into it but my dh knows how to lay floors, paint, install cabinets and stuff like that. I don't know if I would be as willing to buy a fixer upper if he didn't know how. I'd budget well if you need to pay others to install flooring and stuff like that.

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I have 2 kids & live in Arkansas

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♥Lexies Mommy

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posted 10th Mar

Quoting A&J. ♥:" Is the income property good enough to rent out as it is while you renovate your own home?"

It would need some small work as well. The big house is livable and has nice carpet but it needs a new roof, windows, and flooring in the kitchen things like that.

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I'm TTC since October '11, have 1 child & live in California

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♥Lexies Mommy

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posted 10th Mar

SO knows how to do lots of handy things so we could do a lot of the work but would have to have probably some of it done.

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I'm TTC since October '11, have 1 child & live in California

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shay (38weeks) +2online

408 posts

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posted 10th Mar

We bought a fixer upper, and I personally would never do it again. We thought it would be fun, being able to design the home the way we wanted. The first room we renovated was fun, and then after that all the charm left as it felt like a never ending project/money pit. We are now under contract to sell our fixer upper and buy a 2 year old house that needs no work because of how much we ended up hating working on our first one, lol.

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I'm due June 3rd (a girl), have 2 kids & 3 angel babies & live in Utah

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♥Lexies Mommy

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posted 10th Mar

Quoting shay (27weeks) +2:" We bought a fixer upper, and I personally would never do it again. We thought it would be fun, being ... [snip!] ... fixer upper and buy a 2 year old house that needs no work because of how much we ended up hating working on our first one, lol."

Aww I am sorry that sounds rough

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I'm TTC since October '11, have 1 child & live in California

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shay (38weeks) +2online

408 posts

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posted 10th Mar

<blockquote>Quoting ♥Lexies Mommy:" Aww I am sorry that sounds rough "</blockquote>

It's okay, you live and learn, lol. The house looks really nice now compared to what it was. I will just be nice to have a new house that needs no work unless we decide to add extras.

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I'm due June 3rd (a girl), have 2 kids & 3 angel babies & live in Utah

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♥Lexies Mommy

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posted 10th Mar

Quoting shay (27weeks) +2:" <blockquote>Quoting ♥Lexies Mommy:" Aww I am sorry that sounds rough ... [snip!] ... nice now compared to what it was. I will just be nice to have a new house that needs no work unless we decide to add extras."

Ya that will be nice to look forward to. The problem is that the housing market is so high priced around here its hard to afford exactly what we are looking for. We can either get a less nice house outside of town with a amazing yard or a newer smaller house in a subdivision with practically no yard. This house just has so many things we want but is def an older house but also has the added benefit of income through the small rental. Its our first house and a very scary idea.

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I'm TTC since October '11, have 1 child & live in California

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Devil Duckie

48316 posts

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posted 10th Mar

unless you are ready, willing and able to start renovations before or just as you move it, DON"T DO IT! I bought a fixer upper and it just fell apart little by little after we moved in. It needed a new roof, needed new cabinets, needed new carpet, Everything eventually went to hell. I gave it back to the bank. I wouldn't have been able to sell it and I didn't have the time, energy or money it needed once smurf hit the fan. I'd much rather have bad credit for 7 years than mess with that disaster.

quote smurfs?

I have 3 kids & live in New York

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shay (38weeks) +2online

408 posts

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posted 10th Mar

<blockquote>Quoting ♥Lexies Mommy:" Ya that will be nice to look forward to. The problem is that the housing market is so high priced around ... [snip!] ... an older house but also has the added benefit of income through the small rental. Its our first house and a very scary idea."</blockquote>

I remember how scary it was to buy our first house (the fixer-upper). Hell, 8 years later it's still scary buying this second one, especially since it's much more expensive. But it sounds like your putting a lot of thought into your options, which is good. We just kinda jumped into our first house without much thought. Just remember that it does cost quite a bit to renovate, even when you do it yourself, which we mostly did. But if the house is structurally sound, you really love it and the neighborhood, and plan on being there for a while so you can renovate as money allows, it could be a good option for you. It's definitely a big decision!

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I'm due June 3rd (a girl), have 2 kids & 3 angel babies & live in Utah

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♥Lexies Mommy

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posted 11th Mar

Quoting shay (27weeks) +2:" <blockquote>Quoting ♥Lexies Mommy:" Ya that will be nice to look forward ... [snip!] ... being there for a while so you can renovate as money allows, it could be a good option for you. It's definitely a big decision!"

Thank you for the support that really helps me out Its defiantly a huge decision! Good luck on your second house as well.

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I'm TTC since October '11, have 1 child & live in California

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shay (38weeks) +2online

408 posts

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posted 11th Mar

Thanks so much! Good luck to you too!!

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I'm due June 3rd (a girl), have 2 kids & 3 angel babies & live in Utah

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aperture

14858 posts

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posted 11th Mar

We bought ours in late 2009. We just finished remodeling early this year. It took us that long since DH did all the work. We bought a fixer upper since that's the only one we can afford it a nice town/nice school in Norther New Jersey.

Here are some photos.