Some things like a roof that needs replacing soon, a furnace that won't last much longer, a worn out carpet, may be negotiated in your in your offer. But you will still may have to have the work done. Almost anyone that has undergone a lot of renovations, remodeling, etc., will tell you to plan on everything taking "twice as much time and twice as much money". This is no joke! So be careful and know how much you want to take on. If during your home inspection, you discover all the wiring needs to be replaced....ouch! Sometimes, you open a "Pandora's box" and more issues just keep surfacing. (The reason for a home inspection!) Sometimes "loving" a house just isn't enough and you will have to make the hard choices. "Should I stay or should I go!"
I would completely agree that if the house you choose needs some cosmetic changes you shouldn't let that keep you from purchasing it. The location is great, the outdoor space is fantastic, the house itself is of great quality, but it is somewhat outdated or decorated in a style that really doesn't fit your taste. For example, the paint color choices are dreadful and there is some wallpaper you hate. Then plan to roll up your sleeves and get to work! You should be able to change the light fixtures, unless you think the power is turned off at the light switch. In that case, after you pick yourself up from the floor, you'll call a electrician.
When it comes to things like tearing out walls, "gutting" the kitchen or the bathrooms, it is not only expensive, it takes time and it is a mess! You will be living in that mess until it is done! The question is, will it get done? Will you have to spend more money buying the tools you need to do the job than it would cost you to hire a contractor?
I think many times people watch to much TV and think they can do anything. Unless you are really a perfectionist, most of those projects will probably look like "you did it yourself". Granted, some people love to do this stuff, but unless someone in the family is really skilled at it - hire somebody. It will save a lot of family arguments! If you have a job, kids, your husband travels, when is it going to get done? In 5 or 10 years, just before you decide to downsize and sell the house? Seriously, even if your husband was a contractor, (unless he is retired) would you want him to come home and spend every waking minute "renovating"? There is a reason for the old saying "the shoemaker's kids never have shoes".
Personally, I like doing some of these things, but I do know my limitations. That is all I'm asking your to look at. Is it a dreadful chore or something you will enjoy? I wouldn't hesitate to redo an "outdated" kitchen by changing cabinet doors or perhaps painting the cabinets. If I were installing expensive counterpoise, I'd hire a professional. If I was tiling the floor, I'd probably hire a professional simply because it's a big project. If I had a crooked grout line, it's all I would ever see in my kitchen. Even Martha Stewart, who can do everything....has the assistance of about 300 other people.
Just know yourself and be realistic. Can you plan to do a project and finish it before going on to the next one? Will you finish it while you are living in it or just do it before it is sold? If you can afford to hire a contractor and don't mind being "under construction". Go for it!
I'm not trying to convince you not to buy a house that is not perfect, not at all! I just think you should recognise what you need to do and what you want to do. Let's say, you have the location, the landscaping, the view, the style of house, solid workmanship, perfect # bedrooms, bathrooms. You wanted:
- Tile floors in the kitchen and baths, but they are vinyl,
- Granite countertops in the kitchen and bath, they are not, but they are in decent shape,
- Stainless steel appliances, they are older, but clean and in good working condition,
- A totally finished basement, it is partially finished but includes a full bathroom.
Should you not buy the house? It is up to you. Personally, I know I could live easily in this scenario, knowing I could budget my projects over time and do what I want. I also know that if I didn't get it done in my time frame, I would still enjoy my home. This is why I made the comment about TV. I am a serious fan of HGTV shows and I love decorating. But, I also know there are options other than granite and stainless steel which seem to be the current trend. Trends change so by the time you sell your home, IT may need "updating". I'd be more impressed with energy-efficient windows, furnace, or even solar panels. Over time, these things could easily save me enough money to add my "wants". By that time you sell, the trends may be changing. Although, I love granite as much as anyone, I might want to try recycled glass or something not yet a trend. I suspect that the future will see far more "green" products. This is my reality, what is yours?
