Lately Tag and I have been hooked on watching Property Brothers on HGTV. The show is about two brothers, a realtor and a general contractor, who team up to find people fixer-uppers and then help them buy and fix the house all at once.
If you are even thinking about buying a home at any time in the future and don’t have a boatload of money then this is must see TV as far as I’m concerned.
The great thing about this show is that it shows how you can get aspects of your dream home at a fraction of the cost of what a dream home might cost you. Plus doing a custom renovation means you get EXACTLY what you want (as long as the contractor does what you ask).
Cheap House With Renovations or Expensive House?
When I’m looking for a home in about two years, I’ll have two options: either get a fixer upper for a low price and pay a bunch of money to renovate parts of the home, or buy a move-in ready home for a higher price.
Property Brothers is all about people buying that crappy house and turning it into a dream home. I like this strategy for a few reasons:
- I like to work with my hands and I’d be happy to help on the renovation (which would also reduce costs).
- The renovations will help increase the value of the home.
- I could get exactly what I want with the custom renovation.
I’d Need the Magic of TV
I do really like the idea of getting a fixer upper, but there are two things that happen in the TV show that I would need in real life to feel comfortable doing a fixer-upper renovation.
First, I’d need to see a computer generated design like they do in the show. Here’s the software they use to give people a great visual of what the house would look like when the renovation is over. Without seeing this I would never be able to visualize how a home would look after the renovation were done.
Second, I’d need a contractor I can trust to deliver what he promises on budget. Obviously that always happens on the TV show, but the Property Brothers do their show in Canada and I’m not moving there. Finding the right contractor would be the most important part of the whole entire process.
I Have Two Years to Decide
Luckily I don’t plan on buying a house for at least two years so I have some time to decide, but I’m curious to hear about anyone who has some experience with renovating a house. If you’ve done a big renovation in your house, let me know in the comments what happened and if you’d do it again.
Carnival of Financial Planning at The Skilled Investor
Carnival of MoneyPros at Finance Product Reviews
Carnival of Retirement at Debt Black Hole
Festival of Frugality at Buzzraid
Nerdy Finance Carnival at Nerdy Finance Carnival
Wealth Artisan’s FinCarn at Wealth Artisan
Y & T’s Weekend Ramblings at Young and Thrifty
Yakezie Carnival at See Debt Run