Are you a DIY enthusiast considering buying a doer-upper home? From first-time home buyers to serial renovators, Kiwis love buying houses in need of some TLC. If you’re eager to transform a property with your bare hands, read our guide on everything you need to know about buying a doer-upper.
And if you’re in Tauranga, the Bay of Plenty or the Waikato, make sure to get Straight Up Inspections to examine the house before making any final decisions.
Pros and cons
The benefits of buying a fixer-upper can be huge, and these include:
• Purchasing an affordable house in a great neighbourhood
• A blank canvas – you get to make the house your own
• A fun process practicing your DIY skills and learning new ones
• Increasing the value of your home.
However, there are some drawbacks to consider before you buy:
• Renovation costs can outweigh house price savings
• You may need to hire a professional for some of the work
• Major renovations are an emotional process that require a lot of effort.
Do you still need a building inspector?
No matter what state of disrepair the house is in, it’s crucial to get a building inspector to examine the property in question. You might know that the house needs a lot of work – painting, new kitchen, flooring and fixtures – but not realise the scale of serious hidden problems that also exist.
A house inspector will identify all issues with the property so there are no surprises. This includes:
• Roof damage
• Mould and leaks
• Poor drainage, insulation and ventilation
• Foundation problems
• Outdated electrical systems
• Pest infestations
Use the property inspection to guide your decision
If a building inspection reveals major problems, you may decide to walk away or you may still be willing to purchase the house and fix it up.
Either way, the knowledge will give you a clear indication of the cost of repairs, how long it will take and which professionals you will need to get onboard.
A property inspector’s findings can help you negotiate a lower purchase price, in order to make the renovations financially viable.
Always have room in your budget
Even with a property inspection, surprise costs crop up with major home renovations. You could get swayed to go with the more expensive flooring, or decide to knock out a wall and open up the living space. Be prepared and set aside some additional budget for unexpected costs.
Get in touch
Have your eye on a doer-upper property in Tauranga, the wider Bay of Plenty of the Waikato? Talk to Straight Up Inspections about booking in a house inspection.