It’s a nice idea. Buy an older home with lots of “charm” and restore it to its former glory. Add some modern touches, update the appliances, add some good old-fashioned elbow grease and voila! Dream home. Plus, the money you’ll save by buying a “fixer” means you’ll be able to create the home of your dreams practically for a song, right?
Um, not exactly.
We all love to watch the dramatic makeovers that conveniently happen within one hour on our favorite home tv shows, but it (quite literally) pays to get the facts before you make the decision to renovate an older home.
Before you binge watch all seasons of Fixer Upper or Rehab Addict on your way to renovation bliss, here are just a few things to consider that could save you thousands and thousands of dollars (you can thank us later):
“Don’t Go in There…”
It’s fun to see dramatic kitchen renovations and mesmerizing master suite makeovers on our favorite home improvement tv shows. But have you ever noticed that we only see 2 or 3 rooms but never the rest of the house? Often there’s not enough budget left to renovate the gross garage, the too-small secondary bathroom, or the eensy-weensy closet.
Building a custom home means never having to close the door and hope your guests don’t wander into those rooms that you never got around to renovating because you ran out of time, money or both.
“You Paid What?”
Although you will likely pay less to buy a fixer upper, that’s often where the savings stops and the hard costs begin to add up. You can expect to pay retail prices for flooring, cabinets, appliances, counters and more. That means that the final cost of a fixer upper can be significantly more than a new home, even if the two homes have the same finishes.
When you design and build your home with Adair Homes you’ll enjoy a wide range of options that are included in the price. And if you decide that you want to upgrade to hardwood flooring or granite counters, you’ll be able to take advantage of our bulk pricing.
“Oh, Nice Water Heater.”
You know that feeling when you drop several hundred dollars on new tires for your car, and you have nothing to show off? Fixing up an old house is a lot like that. New plumbing, new electrical, a new water heater - it can be easy for your fixer upper to suck up a big chunk of your budget before you ever get to the fun stuff.
When you design and build a home with Adair Homes, it’s all fun stuff. That’s because every inch of your home is brand new so there’s nothing to repair or replace when you move in. You’re free to focus on fixture and finishes and colors and cabinets. (After all, isn’t that the only part of the home makeover show we care about anyway?)
There are lots of additional factors to consider before buying a fixer upper, too. This includes energy efficiency (high energy bills can make older homes much more costly to manage), location (even the most beautiful renovation will be harder to sell in a challenging location), and the time/cost of removing old flooring, wallpaper, counters and tile before you can even start your design.
Still not convinced that building a custom home can be easier on your budget than a renovation? (Ah, a skeptic! We get it.) Stop by one of our Design Centers and talk to a Home Ownership Counselor to find out more about how affordable building a custom home can be. While you’re there, get hands on with our design samples and begin envisioning your new home.