we're renters now, but would like to buy within the next couple years. right now houses in our area are SUPER cheap, like 50% of what they were a few years ago (we still live in MA, so not that cheap compared to other states, but cheap for here!). we don't make a ton of $$ and would like to find a place that we can afford, but still be in a decent area and have enough space that we don't outgrow it too quickly once LOs are in the picture. tricky combo! one option would be to find a place that needs some work, and try to do as much as we can on our own to save money. but going from renters to fixer uppers seems like a lot & i don't want to get in over my head! so what kinds of things would be reasonable for a new homeowner?
the one i'm looking at now, from the pictures at least, looks totally livable, but i would want to update a lot of it. ugly floors in bedrooms & kitchen, bad deck, some paneling in one bedroom, closet doors need replacing, ugly yet usable kitchen but nice stainless appliances. 1,850sq ft, 4 br, 2.5 bath, garage, walking distance to some shops & a reservoir, good neighborhood. seems a bit underpriced, but is this the kind of thing that would be reasonable for a first time home buyer to undertake? what kinds of updates did you do yourself?
Meaning, if it's a good place structurally, has a good lot, a good location, etc - all the things you can't change about a house - but just has a lot of livable cosmetic stuff to update, and the price is right, it's a good investment in my book. Things you can live with, and work on over time are very reasonable for a first time buyer - you just tackle a project at a time as you have the time and money. That's pretty much what my family always did growing up, and we always worked on house and yard projects as a family. I really enjoyed it, to be honest.
I'm totally with you on the doing it over time as the budget allows. We can update as we go, but adding sq footage or needing to find a school outside the neighborhood is a big deal later on.
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