WOW, you will and do have major issues to work through.
I've been in the trades for a long time, and too, I look for FIXERS, But only those that will return something.
First house probably shouldn't be a fixer unless you have some skills, or friends at least, with skills.
Without knowing if you've already signed on the dotted line, or are actually LIVING in the house, my first suggestion would be DON'T, but you might at the very least check out comparables, local to that house in determing value, as it relates to your later Q about a Loan.
Another MAJOR issue is work that not only requires CODE laws, but your own liability in a DIY situation that may become a critical thing.
If you have any rewiring plans that should be done with the walls stripped to the studs, and everything checked back to the breaker or fuse box.
Cheap/Broke, hire a contractor. You will have problems...
With all due respect though, and if you can endure this as a LONG TERM process, then strip the walls to the studs, do what remodeling you need, and decide on at least ONE room you can finish to inhabit, and feel comfortable with while at the same time living with the balance unfinished.
If you have to replace windows, do that also before doing drywall. During the course of your PLANS, don't work the finish work until you're ready to FINISH the job.
Repair/remodel loans: That might have been something to explore and know before BUYING. The determining factor is in the current market value of the house,,, IF you were able to get a mortgage on a fixer in the first place that HOLDER must have some confidence in the value. Certainly a RE finance isn't going to be available immediately, unless you have equity invested already, and it's no less than what you want to borrow.
Without question housing is way over priced at the moment, but the shift has already begun.
I'd likely take on the task, and will, for myself at some point, but I know what I can expect and what to do to make it work. It's pretty difficult to be negative to someone with a dream and certainly I hope yours is fulfilled. I'd be in ANGST if I was in your place though.
Steven Wolf
2007-03-02 15:59:36
·
answer #1
·
answered by DIY Doc 7
·
2⤊
1⤋
What to do when depends largely on the condition and livability of the house. Wiring and plumbing need to be done before your repair the walls. Windows should be done before walls also. It's easier to get a good air tight installation.
If you are going to do 1 room at a time, knock out the walls, fix the wiring and plumbing, replace any windows that need it, re-insulate, drywall and paint, then do the floor.
Remember thing like kitchen cabinets and counter tops are VERY expensive. So are new bathroom fixtures, like new tubs and showers. Try to stay within you're budget or you could end up with a room half done for weeks or months.
You may qualify for a home improvement loan. Only your lender can answer that for sure.
Home Depot has books on all aspects of home improvement, and they offer free classes on many areas. I suggest you take the classes, and buy the books on wiring, plumbing, drywall, painting and flooring, and anything else you want to do. That way if you get stuck, you'll have a readily available reference.
And Good Luck. You can do it.
2007-03-02 23:48:24
·
answer #2
·
answered by bugs280 5
·
0⤊
0⤋
We're in a similar situation and are currently remodeling our new (old) house. We have the luxury of not living in the home while the work is going on, but if you have to live there -- I agree with others, just do one room at a time.
You will probably need to hire sub-contractors for electrical and plumbing work. You also may want to hire a handyman to help you with things like installing windows and putting in cabinets. However, other work can be done yourself, even if you have never done that type of work before. We watched a LOT of shows on the subjects, got books and videos from the library, and also attended "how to" clinics in our local home improvement centers. It would be worth it to make the drive to the Home Depot or Lowes on one Saturday when they are offering a bunch of clinics (ours usually does three-four each Saturday) so that you can get some training.
Others are correct, you need to do the electrical and plumbing, and then the windows, and then the drywall and finish work. Check with your bank on a home equity loan. Depending on what the house is worth (your bank should have done an appraisal when you purchased it) and what you paid, you may already have some equity built up (in our case, our house appraised for $26,000 more than we paid -- so we could get a home equity loan).
If you decide to act as your own contractor and you are making any structural changes, check with the city as far as pulling permits. If you hire a licensed electrician or plumber, they usually pull their own permits for the work.
2007-03-03 02:10:17
·
answer #3
·
answered by Janade 2
·
0⤊
0⤋
First of all, you should not buy the home unless you have a step by step plan on how you will get it to the point that you want it, how much that is going to cost, and where that money is going to come from. If you can't live in that house for the next ten years exactly like it is, don't buy it.
As to the heart of your questions... Dry wall would be the last thing you do. Windows involve considerations to the outside of the house, as well. You have to cut back or patch siding, redo casings and trim, reframe openings, etc. Do windows before electrical.
Electrical can be done in stages. You can rough in new circuits and leave the wires hanging until you're ready to hook them up. You need to know the specs for each room before you start. An electrical contractor might be a little hesitant to work piece-meal like that, though. They want to do it all at once. (you will need a licensed electrician).
Otherwise, you can certainly remodel a house one room at a time. Start with the easy rooms, like bedrooms, before tackling bathrooms and kitchen. If you're tearing out plaster and rewiring, you might as well install internet and tv wires while you're at it. Think long and hard about where you might need these accessories later. Bedrooms need coax and high speed cables for kids later on, etc.
Basically, you remodel in the same order that the house was built. Framing is first, then rough in services (plumbing/elec), then drywall,then finish plumbing/elec, then floors and trim.
2007-03-02 15:31:50
·
answer #4
·
answered by normobrian 6
·
1⤊
1⤋
Start at the top and work down. Hopefully its a bungalow, so the reno's would be easier. The first thing is to gut the first room of drywall. Redo the electrical then re-insulate the outside walls and vapor barrier it. If there is any plumbing in the walls, now is a good time to check it for problems. If it is an older home ( pre 1970) check the local building codes for electrical, plumbing and insulation to ensure your work meets these regulations. While the walls are bare, check the outer skin of the walls and the wall studs for signs of black staining. This could be mold. If there is, soak the area three times a day with pure bleach for two days. Leave a window slightly open. Check where the mold came from and fix the problem. ( IE:leaking window, rodent damage,etc.) After the drywall is up, you can replace the windows then add the trim work. As for financing this project, Hopefully you got a good deal on the house. Call in an appraiser, show him the house and then show him your drawings and lists of your renovations. He will assess what the house is going to be worth after the repairs. Take this assessment to your bank or mortgage company and they will ( when they verify the document) finance up to 75% of the renovation costs in the way of a line of credit.
2007-03-02 15:21:55
·
answer #5
·
answered by shopteacher 4
·
1⤊
2⤋
Dont tackel the whole thing at once it is way to overwhelming. Room by room is more than enough to try to do. If it where me it would be windows firstand if you are doing inside and out dont try to make replacement windows work. If you are redoing the out side to then buy new construction windows they are easy to put in and not so fussy. After windows are done and you have did your damage to the plaster or drywall take it all out and redo your electric, cable, phone, inhouse speakers. Make sure if you are doing it and not a contractor you get it inspected before you cover it up with insulation and drywall.
Yes you can get a home equity loan or a 2nd morgage.
2007-03-03 11:10:15
·
answer #6
·
answered by Jake K 2
·
0⤊
0⤋
what to do first or how depends alto on what your capabilities are. as far as the electrical is concerned, if it requires more than replacing switches, outlets, and light fixtures, you should call a contractor. when money is a real concern it is often easier to go room by room. but when it comes to windows, you should try to purchase them all at the same time. it's always easier to install electrical, plumbing, windows and doors before drywall, but can also be done after with little repair needed to your drywall. drywall and paint can make a home look good for a minimal price if you can do it yourself. there are some banks that will give you a loan based on equity in your home. some window companies offer financing also.
2007-03-02 15:19:11
·
answer #7
·
answered by mark h 2
·
1⤊
1⤋
Most important thing is to budget all the projects. Your sweat equity can fly right out the window. Most people I know lose money on fixer uppers. Flip this house is not the real world for most.
Do enough discovery (look in walls, under house, attic) to avoid surprises, plan for resale even if you think you'll stay in the house, get advise from people that have done similar projects, take pictures to verify quality workmenship. Remember the idea is to gain equity not to support Home Depot.
2007-03-03 02:31:15
·
answer #8
·
answered by Anonymous
·
0⤊
0⤋
make the structure waterproof first, ie roof tiles missing, rotten windows, get the place weather proof first, then check out the electrics and plumbing to see what condition theyre in, too old and you'll need a contractor. you run the electric cable to where you what the outlets to be/ lights etc then you drywall, then you put the electrical fittings on. dont tackle anything unless you're confident + knowledge & have the tools to do it, if your very lucky you might find someone to help you, but things need to be done properly, make the building weather proof 1st, then tackle a room at a time, dont start another room till the one ur on is finished
2007-03-03 06:37:48
·
answer #9
·
answered by fast eddie 4
·
0⤊
0⤋
take your time and DO NOT rush things lol. do one room at a time. come up with a battle plan for each room and go for it. gut out each room to the the studs and replace elec boxs ,insulate, then drywall.do research and take homedepot classes. it soooo much better to know what you are doing.we remodeled on our own it was very satisfying. we did the toughest rooms (bath& kitchen) first then the other rooms were easy lol.it took us like 4-5 months but in the end we were happy.
2007-03-03 02:01:46
·
answer #10
·
answered by Anonymous
·
0⤊
0⤋