While many homebuyers are looking for that one perfect house, there are also brave souls who find the ugliest house and make it their own. There are certainly upsides (many, many upsides) to buying a turnkey home, but the payout for buying a fixer-upper is also plentiful.
What makes a good reno project?
1. The house you’re already living in. This may seem obvious, but there are many ways you can improve your current home. If you just need a new look, then a coat of paint, lighting fixtures and new window treatments go a long way. However, if you’re looking for more space, you may be able to build an addition over your garage or at the back of your house. Just make sure to check with the city first and get all of your necessary permits lined up before you start tearing down walls!
2. A small, dumpy house on a big lot. You’ve seen these before. A war-time bungalow is torn down and replaced with one (or sometimes two) modern homes. While you can always change the house, you can’t change the lot or the location. This a great way to get a brand-new house in an already established neighbourhood.
3. A large, older home in your ideal neighbourhood. If you have the time, and the patience, to completely gut a home, then you can design your dream home in your ideal neighbourhood. You will get a developed neighbourhood with mature trees, and a brand-new house on the inside. It’s a win-win. Keep in mind, these types of renos can take up to six months or longer (especially these days). If you want an insider’s perspective, then give Sean a call – he just went through 10 months of renos on his dream home!
The main thing to remember: when you’re buying, don’t discount the ugly, outdated homes. Sometimes those ugly houses that sit on the market for weeks and weeks actually have a great template to work with. There is always so much potential just beneath the surface. And if you don’t want to gut a house, you will be surprised how you can update a home with a can of paint, some nice blinds, and new light fixtures.
Whether you’re looking for the diamond in the rough, the ugliest home on the block, or the turnkey stunner give us a call, and we will gladly walk you through the home buying process.
Until next time, STYFiRE out!