Do you have the dream to own your own house? Owning a home is an exciting process but it’s one that can start out pretty stressful. Finding the financing for the home can be a hard process. On top of that you also need to worry about the money you will invest into the home to make it look nicer and to be your style. Some people love to buy and flip homes where others do not. If you think you can get a better deal buying a home that needs some work, you should look at the types of loans that are available. An Oregon FHA streamline loan might be a smart decision for you as it allows you to have money to repair the home and make it look nice and new.
Where do you begin on an older home? That is a good question as everyone has a different priority. Determine what you can and cannot live with in the existing home. Some people find that the kitchen must be redone no matter what. This is going to be an expensive investment and one you need to carefully consider when it comes to buying a dump and fixing it up. You might be able to repair all of the problems with the rest of the home for the same price as a new kitchen. Consider using the existing cabinets and refinishing them as this will be able to give the kitchen a new look.
Flooring is something that you need to focus on. You need to look at the costs of various flooring options. Laminate flooring, tile, and carpeting are the most popular options. Some companies like The Home Depot and Lowe’s will give you a credit card with 0% interest for 6-12 months if you do want to use this method to buy the flooring materials you need.
Renovating a home is a long process. Give yourself plenty of time to work on the home before you move into it. This will allow you to be able to actually have the home fixed up and livable before you are trying to paint and to work around your living situation. Renovate with the right type of contractors as well. Having the right people to work with will be able to save you money. Some people may even work out a trade deal with you depending upon what type of work you do and can offer to them.
Just remember that this is a process and it is an expensive investment! If you are not prepared to work on the home and deal with all of the repairs and initial investment, buying an older home and fixing it up may not be in your best interest.