Have you ever tackled a project like remodeling a single room? I can hear it now, my child giggling and saying, “funny daddy, you have paint on your nose!”. A single room can be overwhelming by itself but when you’re a home buyer looking at a fixer-upper home as an investment or for your personal home, it’s easy to become flustered. This is where having a solid plan comes in and then just like any other big project, take it one step at a time. The plan you create will differ greatly depending on whether you are living in your fixer-upper or not.

Not Living in Your Fixer-Upper
Any home remodel is much easier when you’re not living in the house, but there are still some guidelines that will make things a lot easier. If you are planning on tearing the walls down or “gutting” the house, then this should be the first thing you do. This will give you access to insulation, wiring, and windows. If all three are in good condition, you can skip this step (thank heavens), but more often you’ll want to work from scratch and it isn’t as expensive as you may think to redo the sheetrock and texture. You may need to replace or upgrade the wiring so look it over closely or hire an electrician to make sure it is in good condition. The insulation should go in as thick as possible with a good R Value of around R-19 and don’t forget to insulate around the windows. Since the walls are already down, this would be the best time to replace the windows if needed. Once the sheetrock and texture have been completed and have a fresh coating of paint, think about the flooring and whether you want to change or replace the material (waiting until after the paint has dried will save you the hassle of trying to clean the paint out of carpets or worse).

Living in Your Fixer-Upper
When you or someone else is living in the home, a more extensive plan is needed. Most people like to tackle their remodeling efforts room by room. If you are planning on living in the house, it’s a good idea to do the bedroom where you’ll be sleeping first. You’ll appreciate a good night’s rest as you start on the other rooms. Next, focus on the bathroom and kitchen! These areas are usually the most important rooms to get finished and functional-but be careful not to rush things too much, they’re also the rooms that have the biggest impact on the home’s value. Remember to think ahead and be sure to finish a room once you start it.

The Fixer-Upper Story
It’s a pretty common story. You are inspired to buy a fixer-upper. You felt motivated and decided to go for it. Over the next few weeks or even months, you can’t imagine what you were thinking. It’s too late now and you have no choice but to finish the job. Later, it turns out to be one of the best decisions you’ve made. Keep this in mind, fixer-uppers are usually good investments, even if you can’t do all the repairs yourself. Hiring a contractor for some or even all the work can be a very good idea. The home equity that you stand to gain will usually cover the costs of the repairs and if you keep that in mind, will allow you to keep your sanity during the remodeling process.