Renovating a home can take a lot of work and isn’t for everyone, but if you’re up for the challenge, you can create your dream home. Before you dive in, there are a few items you need to tackle to plan a successful remodel. Check out these 5 tips for renovating a new home.
How much time and effort are you willing to put into your home? The condition of the home will determine how much work you will need to put into it. You can tackle the easy fixes yourself, such as patching walls, painting, installing new light fixtures, or replacing doors, but keep in mind that you may need to hire contractors for big fixes which can get expensive.
Make sure you have the budget to make renovations to your new home. Do your research ahead of time and contact contractors for quotes. Calculating these costs will be a good indicator of knowing whether buying an outdated home is the right move for you.
Since you’ll be able to customize various parts of the home, the only thing you won’t be able to change is the location so when looking to purchase an outdated home, choose one that’s in a desirable neighborhood.
Although home inspections are optional, it’s always recommended to get an inspection prior to completing the purchase of your new home. It’s assumed that you’ll find some issues during the inspection, but make sure these are problems you’re willing to fix to avoid a money pit.
Some renovations will require you to obtain a permit from the city including electrical, plumbing, mechanical and structural repairs as well as demolition, roof installations, and other fixes.
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*As a member of the AmeriHome family, borrowers are part of the AmeriPurchase+ program and qualify for a $500 off lender fees and up to $500 credit toward out-of-pocket appraisal fees paid for all of your home purchases done with AmeriHome, for any property you own. Credits will be applied only if your loan closes with AmeriHome. This offer can not be combined with any other offers and is not applicable for FHA Streamline, or VA IRRRL Refinance transactions. Other restrictions may apply. Terms and conditions are subject to change. The AmeriPurchase+ program is subject to termination without notice.
**Home buyers who utilize Newzip’s agent matching service will receive the cash reward in the form of credit at closing equal to 0.5% of the home sale price. In the event that the cash reward exceeds the concessions limit the customer will receive the reward in the form of a check within 30 days of their closing date. Home sellers who utilize Newzip’s agent matching service will save 1% in the form of a pre-negotiated agent listing fee. Obtaining a mortgage from AmeriHome is not required to utilize the Newzip cash rewards program. The cash rewards program is available in all 50 states for selling and 42 for buying. The following states do not allow cash rewards for home buyers: Alaska, Iowa, Kansas, Mississippi, Missouri, Oklahoma, Oregon, or Tennessee. Realeaux Inc. (dba Newzip) is a licensed real estate brokerage based in Massachusetts, License #423451.