Invested In A House In Poor Condition? Here’s What To Do Next
It’s often a lot cheaper to buy a rundown or old house, simply because of the poor condition it’s in. And if you’re new to the world of real estate, or you’re just trying to get on the bottom rung of the property ladder, you’ll probably have to start with a place like this! However, you don’t have to bemoan the state of the property you’ve invested in; you can take it to bigger and better heights with some hands on renovation plans.
A house that’s in poor condition is going to need a lot of tender, loving care over the next few months, and you’re perfectly capable of providing that. As long as you can work out a budget, and you’re able to get a schedule together, you can move forward with fast and effective work. And then, you can get that property back on the market and make a good return on it; it’s all up to you!
So, without further ado, here’s what to do next when you find yourself with ownership of a run down, poor condition house.
Get a Plan Together
As we mentioned above, you’re going to need a plan first. You’re going to need to know what to attack first, how to move strategically, and what’s going to cost the most and is better to buy when the prices are as low as they can be. Similarly, you’re going to need time to search around and research your options, to determine where you can best source everything you need to renovate the house with, and without a plan, that can take up far too much time!
Most of all, a plan ensures you’re never going off of budget, which is probably strict and needs to be kept to as tightly as possible. It also ensures you know the timeframe of the renovation project, and you can block out as many weeks as you need – it’s all about thinking ahead, to work out the kinks before they happen, and give yourself the best chance to make some money back.
Work on Curb Appeal
Curb appeal is very much the first impression people will have of a home. They’ll look at a house from the outside before they ever get inside to see what it’s like, and that’s why you need to focus on the curb appeal in your renovation plans. Most of all, you need to tidy up, and at least give a bare but clean face for a prospective buyer to gaze upon.
Seeing as we’re working on a budget here, it’s important to fix the biggest problems in the easiest of ways. There are two areas someone will focus on when looking at a house: the exterior walls and the grounds around the property.
The siding that’s fallen off, or looks worn that plasters the walls of the home? Either rip it off and replace it, or power wash it and paint it to look brighter and stronger. That driveway that’s cracked all the way up to the garage? Take the time to learn more about how to fix it up so it looks new, with a much healthier color on the ground, that’d make anyone think that the house is both pleasing and functional.
Make an Impression in the Entrance Way
Once someone comes inside the property, they’re going to have the chance to get a second impression of the place. If you want to really seal the deal, before you’ve even negotiated, you’re going to need to make an impression with the entrance way as well. Either in the hallway preceding the door, or the room the front door opens up into.
The hallway, where someone takes their shoes off and hangs up their coat, is a big part of the house, even if you don’t realize it. It’s where people feel like they’re home; not outside when they step onto the porch, but as soon as they shut the front door.
Even the front door itself deserves a bit of time and energy here; paint it, reinforce it, or swap it out for an entirely new door. As long as you feel good about the door that opens up to the property, and feel like it fits the aesthetic you’re going for, and is durable enough to last for a good 20 years or so, the choice is entirely up to you.
Open Up the Box Room
There’s a good chance the house you’ve invested in has a bedroom that’s a lot smaller than any others. Because of this, you’re going to want to create the illusion of space, without needing to knock a wall through or do an entire survey of the house to see where the load bearing structures are.
Make a good use of light and paint here; if you’re going to use a dark blue or green on the walls, make sure you highlight this with features that are at least 3 shades lighter than the color on the walls. You could also make good use of mirrors here, and they don’t have to be floor length either; a cheap 24 inch mirror could work wonders if placed behind the door or near a window.
Make the Bathroom Comfortable
The bathroom needs to be a comfortable place to use, and if your poor condition house barely even has a working toilet at the minutem, you’re going to want to focus a lot of attention on this room in particular! Turn it into a modern paradise, where people can relax and soak into a good sized bath, or ensure that the water pressure in the shower is strong enough to have a quick wash in the morning.
You’re also going to want to focus on making the bathroom as waterproof as possible; you’ll probably have to grout the tiles you fit here yourself, but make sure you place them strategically, so you’re never spending too much on packets and packets of glazed ceramic. Buying a couple of cheap but fluffy rugs to place on the floor will work wonders as well, and can really help to complete the bathroom’s impression when you’re showing someone around.
Make the Kitchen More Convenient
The kitchen is another big project in your new property, and it needs to be made into a more convenient, free flowing area. It’s going to see a lot of use other its lifetime, and that means it needs to have all of the modern amenities that the buying market is used to.
Most of all, make sure there’s space for appliances such as a dishwasher and a microwave, and ensure there’s plenty of cupboard space for keeping other appliances like blenders or soup makers. Fit some shelves over the top of the hanging cupboards, to provide even more storage space. You want your buyers to know that the kitchen that comes with the house has everything they need, and space is the number one want on the market at the moment.
Ready to Renovate?
Investing in a house in poor condition doesn’t have to be a struggle for you. There’s a lot you can do with this new property, and there’s a lot of changes you can make to turn it into the hottest thing to hit the market in years. You’ve invested a lot already, so you’ll be wanting to work with a strict budget here, and hopefully these tips above can help you to fit everything you need in!