One of the things we’ve always wanted to do was buy a fixer upper. We are always searching but it was never the right time. Now that we are full time Rogue Engineer we have time to do things like flip a house and of course we plan on showing you every step along the way. First step being closing day and what we bought.
1955 Cottage Style Home
Purchase Price – $90k
1300 sq ft – 4 Bedrooms – 2 Bathrooms
Walkout Basement (not included in square footage)
1 acre lot with mature trees
If you follow us on Facebook or Instagram you may have see a lot of photos and live tours of the house and demo, which we have already started. I do plan to detail that in a post later this week but until then you can see every detail in this 360 degree virtual tour of the house and the condition it was in when we purchased it.
It may be hard to see but this house does have good bones and this size home, in this area and in good condition, could fetch upwards of $200k. But it wont come easy. Below is a list of some of the things we need to do:
- Replace the septic system
- Pull a fuel oil tank (buried in the ground)
- Have an improperly abandoned well properly abandoned
- Fill in the pool
- Replace all the plumbing
- Connect house to natural gas
- Replace the oil furnace with gas furnace
- New A/C
- Add more lighting and fix some electrical
- New bathrooms (everything)
- New kitchen (everything)
- New flooring everywhere
- Possibly add a deck off the dining room
- Basically all new everything everywhere except for the studs and some drywall…
Reno Budget – $50k-60k
It does seem like a lot but we are prepared to jump right in plus we’ll have the guidance of my father-in-law and brother-in-law who own Esquire Interiors and are very knowledgable in this industry. I plan on making the details of this fixer upper another section on the blog and I’m going to do my best to detail all of this in how-to / home improvement posts.
We are not set on what we want to do with the property when we are done. Our options are; move in, rent it, or sell it. We are leaning towards renting but still unsure. If you have any questions or want to see anything else please don’t hesitate to ask in the comments.
Wish us luck!