How to Transform a Fixer-Upper into Your Dream Home

How to Transform a Fixer-Upper into Your Dream Home

Buying your dream home is almost impossible these days. These would be the homes that, for many people, are simply so far beyond their budget that they will never have the down deposit saved. The thing is; you don’t need to look for your dream house when you are house hunting. You need to look for the potential. Instead of letting your ideal home drift off into the winds, make it a reality. Search for downtrodden homes that are in need of a renovation, instead of a home that is ready to move in. The effort will be worth it when you have the house that your dreams are made of. This is how to transform a fixer-upper into your dream home.

Having a Full Inspection

Getting a loan through the FHA program automatically means that the property must adhere to higher home inspection standards. Use this home inspection to identify the problems and fixes that need to be done for the property for it to become habitable. If the house only needs a cosmetic upgrade, then perfect! You can use the money from the 203k to beautify the home and turn it into a dream come true.

Get a Professional Home Builder

Fixer-uppers typically need more than a fresh coat of paint – they need a full overhaul. That is why you need to hire a professional and reputable contractor. These are the Ross North homes developments team who will know how to transform your house according to building codes. That way you can make sure that knocking down that one wall won’t bring the whole house down.

To get exactly what you want, however, you will need to show the contractor or designer what you want. The more specific you are, the better. This means having photos and codes of products that you want to use for the walls, the stairs, and more. You should get a blueprint of the finalized designs before you sign off on it. But be warned, if you go cheap, you could end up with a terrible finished product that not only looks bad but is dangerous.

Make Sure You Build What You Need

When you oversee the transformation of your property, it can be easy to get caught up in the excitement. Don’t waste money on the things that you don’t need. Instead, make sure that the property is safe, has the right number of bedrooms, space, and storage that you will need to be comfortable and happy. Make sure that the design has everything that you need before you can figure out if you can budget for extras.

Have a Place to Stay

You won’t be able to live in the property when the bulk of the work is being done. If you did, you would likely hinder progress. That is why, if possible, it’s best to live somewhere offsite while the work is being done and check in regularly to see the progress that is being done. The more time you spend interrupting contractors and stopping them from working is the time you are paying them to not work on your property.

Enjoy Your Home

Once all the work is completed, it’s time to finally move into your dream home. It is time to decorate, source the furniture, and make new memories that will last a lifetime.

All you need to make your dream home come true is the imagination and vision to see past a fixer-upper into the potential that it holds. That way you can own the home that would otherwise be out of your budget. You can then enjoy the property for the rest of your life, and make a profit when you sell it.

Getting the Loan

You don’t have to get a regular 15 or 30-year fixed loan rate to finance your house. You can instead get an FHA 203k, which is the renovation loan program that gives you money so that you can fix up the property. This even applies to those who are looking for an FHA 203K refinance loan, which can give you up to $35,000 in cash to pay for further home improvements.

These loans are insured by the Federal Housing Administration, meaning that you can get the home of your dreams even if you don’t apply for conventional loans. This means that you are more likely to be able to purchase your home than ever before. They are perfect for those who don’t have perfect credit, those who don’t have a lot of savings for down payments, and more.