Has anyone bought a fixer upper?**updated....still waiting!!!!** :( - but with pics

It really is my dream...b/c I don't want other people's ideas in my house...

but we found a fixer fixer upper...no inspection yet (we are debating a bid), but I just wanted to know the work involved...


I am prepared...DH is prepared...but are we going over our head?


what should we look at in the inspection report and say NO WAY?? foundation? roof? mold?


it is A GREAT neighborhood...so any money we put in...will come back to us as appreciation...


opinions please??!!!!

Re: Has anyone bought a fixer upper?

How much of a fixer is it? Can you live in it while you fix?

My house was sort of like that but definitely liveable. When we bought it, it had paneling and ugly carpet and everything old.

Renovation is very stressful and expensive. If you think it will take 10K to fix something, it will probably cost 20K...so make sure you have a lot of that.

And living in an old house is sort of depressing b/c things break randomly and always at the most inopprtune time.

You also have to keep in mind that unless you do a total gut or knock down, you are going to have limitations of what you can do..it will never be like new construction.

So those are the caveats. But if its in a good neighborhood and you can fix it up slowly while you live there (and can get thru all the renovations without killing each other) you will probably be very thankful you got it 20 years from now :D

Re: Has anyone bought a fixer upper?

I am buying what I would call a fixer upper.. I need to replace ALL the panneling with sheet rock and paint, the rugs...it hasnt been updated since the 60s I need to replace windows, eventually the kitchen and both bathrooms and dormer.. But like you I wanted a house I could make my own not someone elses house (plus this is all we could afford)

I would STEER CLEAR OF MOLD... that is a HUGE problem to take care of... that could cost thousands and require a gut job if it penetrates to the second floor..

I would make sure you have a solid foundation with no mold....Most other things you can replace.. I would make sure the house has copper piping already because that could cost alot...

Ill have to get out my book and let you know more..

Re: Has anyone bought a fixer upper?

the house was built in 1926...if that gives you an idea...


Stef...we heard of the double what you think it will cost...and I guess depending on what the inspector says...we will have to see if it is doable...


Sue...do you have a name of a book? most of the books I searched on amazon were...how to buy a fixer-upper and be a slum lord...

Re: Has anyone bought a fixer upper?

We did and are in the process of removing the paneling, painting, and we've already removed the 60s carpet and refinished the floor. My advice- you have to be PATIENT. It takes a lot of money and time to change things the way you want them. But its definitely worth it- and fun!

Re: Has anyone bought a fixer upper?

I'm getting too excited...I am looking at other houses in the area...and they are listed at double this price (of course that is all fixed up!)


I'm going to jinx myself and we will be outbid

I'm going crazy...and driving DH there too...

Re: Has anyone bought a fixer upper?

I think you really have to know your limits. By that I mean have an idea about what you can reasonable do either yourself or contractor in what amount of time.

If the house needs core work ie. plumbing, electrical, heating or anything else to make it comfortable or habitable you need to think about how long and how much $$ it will take to fix and go from there. If you are talking cosmetics you need to decide how long you can live with the existing decor etc.

I would have loved a fixer upper. DH shuddered at the thought and realisticly he was right. I need everything done now. He dosent have the priorities when it comes to renovations.

Re: Has anyone bought a fixer upper?

We seriously considered one...it was an REO in a neighborhood we couldn't afford to buy into otherwise.

We had a friend walk through with us (he's a gc) and he found lots of things that needed to be repaired quickly. There was extensive water damage down to the basement, a couple of crumbling beams, etc. On top of that, the house didn't have a stove-one needed to be installed asap just for it to be a habitable dwelling for the bank to approve a loan.

When it came down to number-crunching time, we realized that the bank wasn't flexible at all...would make no concessions! Basically, we wouldn't have any $$$ left after closing, downpayment, escrow, etc. to do the renovations quickly.

Even with the plumbers, electricians, gcs, construction workers in our family-we just couldn't swing it.

I guess it depends on how much fixin' the house needs. We had very lofty ambitions, but just couldn't make it happen...

Hope that you have better luck!! It's my dream to someday be in a better financial position and have the time and the funds to invest in a total reno.

Re: Has anyone bought a fixer upper?

If the money was MUCH LESS than the average home out there, and you have a handy hubby or just ideas ready, and can spend extra $ to get things done, I say go for it!

I will never forget seeing a MAJOR FIXER UPPER when we were looking (4yrs ago!) and they were asking 500K !!!! It was a big house, lots of land (East Northport!) but needed SOOOOO MUCH HELP !!!!!!!! I couldnt fathom for that price.

So thats what my point is. IT really depends on what theyre asking compared to what it would sell for in 'move in' condition.
But Im sure you'll make a smart decision Erica

Re: Has anyone bought a fixer upper?

Erica -

I don't know if you would have much call for termites in CA, but be very, very careful of any indications of past termite activity. We were told by the inspectors that we had 'prior' termite activity when in reality, they were swarming everywhere when we opened up the walls.

Also check for aluminum wiring because that could be a fire hazard (we had a fire the very first night we took possession of our home). Some of it was 'pigtailed' but the overhead fixtures were not (where the fire started). I would research all of the wiring to see if it has been updated, the service box, etc.

Watch your heating system - if it looks like Noah dragged it over on the Ark, chances are it's going to give sometime in your future..also your cooling/central air if it has it.

If you get a 'iffy' inspection, where you can visibilly see some major potential issues that are sort of poo-pooh'd over on the report, get a second inspector there. You had to see the b.s. that our inspector indicated, yet failed to stress that our house was collapsing into itself.

Start pricing out what 'improvements' are really going to cost. We were so naive in terms of how much things were going to cost. We'd be rummaging through H/D being like 'O.K., the bathroom will cost us $3000 at most' based on the cost of the bowl, tub, sink, light fixtures and tile cost only' totally forgetting the cost of the misc fixtures (towel bar, toliet paper thingie, new upgraded as per code outlets, shower body and fixtures, faucets, grout, cement for the floors, spackle, etc., etc.). Same thing in the kitchen. The BIG picture is never big enough when you are planning to redo rooms. There are so many built in costs that we overlook. Nails - OMG, you can't even imagine how much we spent on nails, screws, etc. Tools, etc. Holy cow. One month alone, I spent 11,000+ on my cc at H/D!!!

Handyman's are great but if it's a starter home where you don't know where to start, look elsewhere. The financial and emotional stress is NOT worth it, TRUST me!!

Re: Has anyone bought a fixer upper?

anna...thats the thing...this is definitely not just a pull up the carpet house...houses in the neighborhood range from $70-350K over this price...and my thought is if we put in $70K...then we are getting the move-in ready house...but hopefully the house will appreciate...with the improvements and the market and then we can refinance with all of that equity...does that make sense?


sharon...thats what I have been hearing....everything costs more than you think...and I am preparing for that in my head...

what did you overlook on your inspection report that is making a big difference?




I am really excited...i feel like a school girl who has just been asked to a dance!!! I definitely didn't have this feeling when we put in our last 2 bids.....

but I just keep thinking of Tom Hanks..and Shelley Long in the money pit!!!

Re: Has anyone bought a fixer upper?

That's our movie girlfriend (w/o the turkey flying through the house)

Our inspector did indicate some of the major problems, but didn't verbalize it in a way that it was brought to our immediate attention. The wording was very careful so that there was no liability on their end if we bought the house (believe me, I tried to sue but four lawyers said no good). The highlights were

The U pipe under the bathroom vanity is leaking and needs replacing

Outside light fixture does not work and may need to be replaced

Floors are worn and old and may need replacing

Things that were downplayed:

The cesspool is original. It may have the capacity of lasting many more years, however at some point it may need replacing.

The heating unit is original and can last many more years, however at some point it may need replacing.

Nothing specific to point out the condition of any one major item that had to be replaced. Basically we got hosed!

Re: Has anyone bought a fixer upper?

the foundation should be good...

Re: Has anyone bought a fixer upper?

My house has pretty much all the things the people here are saying to watch out for. I dont know if its just NY but a house built in 1920s NYC wont have new heating, new electrical, new plumbing, etc.. unless it was recently gutted. there are houses in my neighborhood selling for $3M and they dont have copper pipes or up to code electric or a modern heating system. Its the nature of the beast.

We are living with all of those things and fixing them as we go along.

Not to say that you should ignore but i think it unrealistic to expect new stuff in an old home.

Re: Has anyone bought a fixer upper?

We are buying a fixer upper, hubby is in the business and his advice is, as long as foundation, roofing, and windows are in good shape go for it. Location is key but make sure that was is there ie, bathrooms and kitchen are in working condition.

And its very important to tackle one room at a time

Have fun

Re: Has anyone bought a fixer upper?

DH doesn't consider our home a fixer upper, but I sure as hell do!

We were aware that we needed a new roof and a new septic and built that into the price of the home, but there were some unexpected things that we had to replace, like the furnace and humidifier, among other things.

I don't consider 'remodeling' a fixer-upper. Updating plumbing, electric, water damage, etc. is a fixer upper!

Re: Has anyone bought a fixer upper?

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Posted by Jenny5150

I don't consider 'remodeling' a fixer-upper. Updating plumbing, electric, water damage, etc. is a fixer upper!

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I agree. Our house wasn't a fixer-upper until DH got his hands on it!! But we did gut everything and start new in each room, and 3 years later, we're still no where done where we want to be. Money is a huge issue, it costs a lot to do things right the first time.

SInce we've moved in, we haven't had to do any major repairs, but we have decided to upgrade the electrical service from 100 amps to 200 amps, and it looks like we might have to do some cesspool work. Which kills me because we are in Nassau County and one of the few towns that dosn't have Nassau county sewers!!

Re: Has anyone bought a fixer upper?

OK...I think it will need a new foundation....


and if we do a 80/10/10 loan...we can use the 10% we didn't put down to fix the foundation...and hopefully a bit more...


if I could only tell you the location of this place...and property!!!! it is so unusual to find a yard for this cheap...


it will probably need roof work...but thankfully it is Spanish style and MIL has all the roofing tiles for us...and DH has already done this work with his and his mom's house in AZ....so I am not as worried about that...


the house IS liveable...but the couple is going through a divorce...so they will not fix anything...


we are bringing a camera tomorrow...so hopefully I can shoot some pics to show you...

Re: Has anyone bought a fixer upper?

Erica,
Its not a book I bought its a notebook I took with me when we had two houses inspeced and i wrote down everything the inspector said and how much he thought it would cost to replace...

My house is not much older. I think its 1945 if I remember correctly, but I love the old tall heavy doors in the interior..things like that i will keep...

I say if its in a good location and you have time and patience I would go for it.

I did a 80/10/10 too...

Frank used to be a mason I will ask him if he knows what the cost would be to replace the foundation....

Re: Has anyone bought a fixer upper?

Erica, it really does sound like a GREAT deal. Im sure if a mason found that deal, he'd make a killing on it.

Hopefully you can get some good advice (Even if it will cost a few dollars) on what will be needed and how much it will cost.

You sound SOOOO EXCITED about it, go with your gut !!!!!!