If you are shopping for a new home and can’t find exactly what you want, why not consider a fixer-upper. Century 21 M&M Realtors say that these days, with all of the foreclosed homes available, many of them need work and can be purchased at a reasonable price. Think about what can be done to bring one of these homes up to your dream home standards
Century 21 M&M Realtors say that it is a good idea to keep the remodel option in mind when shopping for a home. Thinking in terms of ‘What if…’ just might get you the home you have been dreaming about. Not only can you change paint colors, you can install new flooring, new cabinets, new countertops, even new windows and doors. You can eliminate walls, open up and reconfigure the space, even enlarge the windows to bring some light in. The possibilities are endless.
Remodels can be expensive, so you need to know what your budget is ahead of purchasing the home, and exactly what that budget will buy. If you plan ahead, you may even be able to get the remodel funded through the mortgage.
1. Start with the creative process.
Write down what you want to accomplish. Collect photos, brochures and samples. Set up an organization system for your project with notes, receipts, warranties, etc. Make sketches and draw floor plans. Research products on the internet and visit remodel forums.
2. Gather Information
Obtain a survey of the property showing other structures, utilities and wells. If you belong to a Homeowners Association, inquire about rules and restrictions. And visit your City or County’s Building or Zoning Departments.
3. Select your project team
Select an architect or draftsman, interview contractors, and get the interior and/or landscape designers involved early on. Ask for referrals from your friends, neighbors and family. Be specific when answering questions about your project.
4. Meet with your team and finalize the details.
Set up a meeting with your chosen contractor, and/or designer, to talk about your project. Using your preliminary drawings, work with your team to coordinate ideas, hear comments, discuss prices, voice expectations, coordinate and confirm work schedules.
5. Negotiate the contracts.
Include in the contract; the commencement and completion date, the total contract price, payment terms and general conditions. Do not sign any contract until it has your list of specifications and any other information that you deem important. Consider having an attorney review your contracts.
6. Finally – when you have the green light, start the project.
It may be inconvenient, but if the owner is on-site, construction will move forward in a timely and cost effective manner. You will be there to answer questions. You will be there to make sure that the project meets your standards of quality. And, you will be there to hold all involved – accountable.
The steps above will afford you the opportunity to take an active part in planning your remodel project. The learning process and the information you gather will increase your potential for a dream home, completed on time and on budget.
Call a Century 21 M&M Agent to discuss the possibilities of finding a fixer-upper that can be remodeled into your dream home.