Anyone buy a handyman special?!?!

FH whoopss......DH and I are looking into a "Handyman Special"...it's more like a "demolish and rebuild"

But the price is sooooooooooooo right for the neighborhood, the property is great, and it has a ton a potential. We're just not sure if we're ready to take the JUMP!!! Anyone ever been in a similar situation? Any pointers?


TIA!!

Re: Anyone buy a handyman special?!?!

I did...6 years ago..it's a great investment..and you need some patience. We have had to gut every single room in the house down to the studs..new insulation, sheetrock, electric etc.

We have done most of it ourselves (not electric & plumbing) to save $$$, one huge project a year..(kitchen, bath, etc.). This year is all new flooring in the entire house, we will be doing laminate in the entire downstairs in September. Next year is landscaping.

It is worth it, especially if you can do most of the work yourselves andyou plan to be in the house for awhile.

Goodluck!

Re: Anyone buy a handyman special?!?!

Lot's of patience !!!! It's a lot of work but it's a great feeling to finally see everything done !!

We've only completely finished 2 rooms so far after 2 yrs....Other rooms have progressed just are not "done". Takes lots of time and money so we do things when we can.

DH likes the fact that we now know that everything is new ! I liked getting to pick out my own tiles, paints, fixtures, floors, etc.

Good Luck !

Re: Anyone buy a handyman special?!?!

We did...three years ago. Great neighborhood with such potential. Yes, its kind of a pain, as there is ALWAYS something to be done and not endless funds, but we love our home. DH is handy and does almost all te work himself.

Its def a work in progress, but as I said, its ours and we love it.


Good Luck!

Re: Anyone buy a handyman special?!?!

we just did. already pulled off entire first floor's flooring, gutted bathroom and ripped out all the appliances. Every tree has been removed - it was a forest.
we have a far way to go... there's no heating system, no kitchen anymore and bathroom.. UGH!
But, i haven't sold my house yet, so i am not living it... just visiting it and working on it.

But, if i don't sell soon, i stand to lose it, it'll have to be sold!

but we bought it dirt cheap in levittown, where we want to be, so... fingers crossed everything works out with my house. i can crash with my parents who live down the block and i'll put my stuff in a pod and move stuff in as we progress.

but, fingers crossed, i get to contract soon, that'll be all i need!!!
Oh, fairy dust lay on me, really soon! St. Joseph... hear my prayers!

Re: Anyone buy a handyman special?!?!

DH and I bought an older house.. not necessarily a handy man special.. my MIL may disagree.. it was livable but very very old.. everything was old but it had good "bones".. plumbing/heating was all good or so we thought.

We went into it knowing that it was going to be alot of work and alot of money..7 months and alot more money than expected, Dh and his dad are still "fixing" the house.. we went down to bare studs.. re insulated.. sheetrock..doors.. windows..added high hats.. new bathrooms..new kitchen.. we didn't have intentions of changing the plumbing but we had a suprise and we now have all new PVC plumbing pipes...new electric..
We practically have a brand new house in the old house shell..It's definatly something we are very proud of.. but i want to live in the house that I have been paying for for the past 7 months.. it's fustrating..

I don't want to discourage you, this is just my experience..

Message edited 7/21/2008 5:04:29 PM.

Re: Anyone buy a handyman special?!?!

My father did years ago. however, he tore it down and rebuilt from the ground up.

it is a LOT of work. it requires a lot of patience and depending on who's doing the work, it can be very expensive. it took my father four YEARS to build the house. granted , he did it himself, but he did that on top of a full-time job. he saved money that way, otherwise it would have been too expensive.

i might stem away from it if you or no one in your family is in construction and could do it for you. private contractors are extremely expensive, plus you're also paying for material, renting dumpsters, etc. etc. you also have to have a licensed plumber and electrician do everything if you gut the place. you will also be paying taxes, even just on the lot while you re-build as well as rent or what have you in the meantime.

honestly, if you guys cna't do the work, i would spend the money and tack that on to an exisiting house in good condition in the neighborhood, or look elsewhere.

Re: Anyone buy a handyman special?!?!

thanks ladies...I think we're gonna do it. We are currently renting from his parents in their two family house so we'll be able to stay here during construction. My dad is already drawing blueprints.....he's really handy...thank GOD!! DH is FDNY so he'll have plentyyyyyy of guys to help him do the construction. Keep your fingers crossed for us...we're gonna show our moms the house tomorrow and call the banks!!!

Re: Anyone buy a handyman special?!?!

No but with all the work I put into my new house... I should have.