How amazing would it be if you didn't have to wait for the right house to hit the market? What if you could simply buy the wrong house in the right neighborhood and get help to remodel it and simply create your dream home? We’re here to tell you that this is possible. Not only is it possible; We actually support our clients through this transformation all the time!
The best houses in the best neighborhoods don’t come up for sale often and when they do, they are usually private sales. Lucky for you, buying a fixer-upper doesn't appeal to all homebuyers, because most people lack vision. If you have some timing flexibility and won’t need to move into a completed home immediately, consider starting a conversation about what upgrades can be accomplished within your target budget.
The Many Benefits of Buying & Remodeling
Clearly, the best reason to purchase a home with potential in your ideal neighborhood is that it opens up your options during a home search. Here are a few more benefits to support the “Right neighborhood - wrong house” concept.
1. Establish Options for Good Neighborhoods & School Districts
The perfect home in the wrong neighborhood will negatively impact your quality of life. For families with young children, finding an area that supports kids may be a huge plus for everyone. It’s not surprising that purchasing a home with renovation potential in a great neighborhood has been an overwhelming success for our clients (this project in particular comes to mind!).
Our clients have seen repeated success working with an experienced realtor who can provide you with opportunities to view less attractive homes in your target neighborhoods that other buyers may have overlooked due to the amount of work they need. Keep in mind that the most important step in preparing your realtor to focus your valuable time is to limit your searches to the right types of improvement opportunities. Consulting with an experienced remodeling professional early on in the process will help make the buying and remodeling process more attainable, affordable and clear. Our project consultants are ready to work with your qualified realtor to explore potential home purchases with you to provide you with greater confidence on remodeling costs before putting in an offer. This will allow you to budget early and understand what projects and investment levels you’re potentially looking at.
Keep in mind that simple renovations are low hanging fruit, in the sense that there will be much more competition for DIY buyers who are handy with a paint brush or simple refinishing projects. Your best strategy is to understand the options and costs for a substantial remodel that will often involve major improvements to the layout and modernize the feel of the house. Often, we present our clients with opportunities to maximize natural light and improve the lines of sight (to increase the visual connections between use areas).
2. Get More House for Your Money
Are you looking to move but don’t have the budget for the ideal house in your dream neighborhood? Buying a home that needs to be remodeled may be the best approach for you. If you purchase a home that needs work, you can get more rooms or a bigger yard than if you purchase something move-in ready. And you can still be in the neighborhood you love! Start out with the worst aspects of the house and work your way through the upgrades as you can afford the improvements.
When considering this approach, it’s important to understand your overall investment for the purchase of the house as well as the remodeling costs. For example, if your end goal is $800,000, it may make sense to look at properties in the $500,000 range which might allow you to invest $250,000 in a first floor reconfiguration before you move in. It’s important to consult an experienced remodeler to review the cost options with you before you waste your time in the search phase.
3. Make Your House Just The Way You Want It
In this market, it has been especially hard to find the right house at the right price point. You might be looking for a home that has everything you want and need but can’t find it in your ideal location. In that case, you may have to create it yourself.
When you purchase a home that needs work, you will be developing your vision and making decisions about how your family will grow up and interact in the new space. Coordinating different firms to understand your vision, help you understand your options and then execute the build can be a challenging process. Working with a design-build firm allows you to work with a single team to design, develop and build a beautiful home.
Our clients, like the owners of this historic rowhome in Society Hill, who purchased and remodeled immediately have appreciated our single-team approach because they felt supported through the entire process. Throughout the entire journey, our architects, engineers, interior designers and builders are communicating and collaborating on a variety of issues to educate you about what solutions are feasible and within budget. Our clients enjoy our methods because they have found the process to be faster, cheaper, and more flexible than a more traditional design-bid-build method in which separate firms try to contribute. Be sure to do your research and find out where you will have the greatest success.
Buying and Remodeling a New House
Don’t make purchasing your house more stressful. By developing your confidence during your buying process, our team can support you in solving almost any problem, you simply need to pick the right neighborhood. Our team at Bellweather Design-Build is ready to help make your wrong house the right house. Reach out today to get started.
