Calculating the True Cost of a Kenai Fixer Upper
Popular television shows make it look super easy to buy and renovate a Kenai fixer upper. Even when they hit a snag, they have the whole thing nicely wrapped up within the hour. But in the real world, actual fixer upper projects don’t really work like that. But they are tempting to buy because they usually come with a lower price tag.
However, before jumping into buying one, it’s important to think about the costs that are involved with fixing up a Kenai house. The following are things you will want to consider.
How handy are you?
The cost of your Kenai fixer upper projects are going to depend largely on how much work you plan on doing on your own and if you actually know how to do the work. If you’re able to do a lot of the work yourself then you are going to drastically lower your cost on making the repairs. However, if you plan on hiring a contractor to do the work you are going to have to increase your renovation budget to include labor.
You want to advance cautiously if you plan on doing the work yourself but have never actually done the type of work before. Fixing up a Kenai house is a lot of work and if you don’t know what you’re doing you can make things a lot harder on yourself and a lot more expensive.
Get estimates before you close
If you’re going to be working with a contractor, you should get estimates before you make the purchase. When choosing a contractor to work with it’s best to meet with several of them. Have them come to the Kenai house, explain what you’re looking for, and listen to their ideas and suggestions. Then you can hear what their plan and estimate would be for addressing the issues.
Always use a home inspector
If you’re going to obtain a bank loan to purchase the fixer upper you’ll be required to obtain a home inspection. However, even if you don’t have to get a home inspection, it’s still a good idea.
A home inspector can help you identify the problems with a house that you might have missed when walking through it. The more you know about the work that will need to be done, the better prepared you can be during your renovations.
Always plan for extra
There are two things that you can be sure of when renovating a Kenai fixer upper. The first is that it’s going to take longer than the original timeline. The second is that it’s going to cost more money than originally estimated. Most recommendations say that you should plan on adding an extra 10 percent to your budget for the “surprises” that come along.
If you’re looking to get a deal on a house then a Kenai fixer upper could be the way to go. But, you never want to assume that every fixer upper is going to be a good deal. There will be times when by the time you get done making all the necessary renovations it could have been more affordable to buy an already renovated Kenai house. That’s why it’s important to consider the cost of the renovations before making your purchase.