With interest rates as low as they’ve been in recent memory, many people are on the hunt for a reasonably priced home that they may not have been able to afford even earlier this year. However, just because a home is within your price range doesn’t mean that it’s going to be a smart purchase for you, especially if you’re planning on taking on a fixer upper.
To help you in making this decision, here are three tips for recognizing a home with good bones that you should buy as a fixer upper.
Love The Location First
When you’re going to be changing a lot of things within the home anyway, you’re going to want to be sure that you absolutely love the things about the home that you can’t or won’t change. And according to Sarah Li Cain, a contributor to Bankrate.com, the all-important factor here is location.
As long as the home is in an area and a neighborhood that you love, any renovations that you do to it will just add to how much you appreciate that property. But if you don’t like where the home is or the lot that it’s on, there’s a good chance that you’ll wind up regretting your decision to purchase that home, even after you’ve made all the renovations that you wanted. So to avoid buyers remorse, make sure you love the location first.
Make Primarily Cosmetic Changes
For a home to have good bones, the main structure of the home is going to have to be sound and able to remain intact. According to Jeffrey Rothfelder, a contributor to This Old House, this means that you’re going to want to pick a home that primarily only requires cosmetic changes.
When you’re looking at the property, try to find a home that has hardwood flooring that only needs some refinishing, walls that only require minor patches or repairs, lighting that could be updated with some new fixtures, and a kitchen or bathrooms that don’t need to be completely gutted. If you can’t find these things in the home you’re looking at, the “bones” of the home may not be as good as you think.
Consider The Windows
There are usually a lot of things within a home that you can change without having to knock everything down and start from scratch. But according to Kate Reggev, a contributor to Architectural Digest, one thing that isn’t always easy to mess with is the windows. Because windows often have to do with the structure and layout of the home, you should try to find a home that already has windows that face the direction you want and are in the location that you want.
If you’re wanting to find a home with good bones that you can renovate to make your dream home, consider using the tips mentioned above to help you find the right property for you.