If you are on a budget for a home purchase, selecting a luxury home is often out of the question. However, creating your own luxury home from scratch is always a possibility. The best way to create a new, indulgent space is to find a home that is in rough shape and is being sold at a discount. From there, you will be able to apply the money that you save on the home or condo purchase to fixing up the old disaster and creating new décor. Here are some tips on going from dowdy to designer on your budget home purchase.
Pick the worst home in a great neighborhood
Having the best home on the block can often seem like a point of pride. However, when you look at the figures, it makes sense to do the exact opposite. Great neighborhoods are likely to boast great amenities and great schools and to increase in worth. Look on multiple listing websites for great neighborhoods in your cities that have damaged homes that owners are trying to sell quickly.
Get a home inspection
A home inspection is critical if you are attempting to buy a fixer upper. You need to know exactly what kind of work needs to be done and get an idea of how much it will cost. If the home is in very poor condition, have both a home inspector and a contractor look over every inch of the home separately. One inspection may provide information on something the other one missed.
Take care of the mold first
Before gutting the home or revamping any parts of the inside of the house, take care of any mold issues. Mold can be common in homes that have been allowed to go into dilapidated or poor condition. Black mold is a health hazard and can be a reason for the city not to allow inhabitants. Be sure to have damage contractors come in and do a full mold inspection. Black mold removal should only be performed by a professional damage contracting firm, and the home must be fully inspected afterward to make sure the mold is gone.
Get deluxe features second hand
Glass pedestal sinks, soaking tubs, and travertine floor tile may seem like a luxury that just isn't in your bank account's abilities right now. However, you can find some features second hand or through damage sales from other homes. Purchasing second-hand luxury items will save money, and with a little elbow grease, it can look just as if you are the first owner.