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Old 02-05-2017, 09:08 PM
 
11,632 posts, read 5,477,332 times
Reputation: 11029

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I bought a fixer-upper but I won't fix it up until the mortgage is paid. I don't think anyone agrees with it save my father.

I almost got floors - there is concrete in the kitchen and 'dining room' (one bedroom condo). But I want to OWN that concrete!

So I gave the money I saved for that and a couple other things to the mortgage. Saved a ton on interest. Shaved off years. I figure it will be worth it in the end!

11 years right now if I make minimum payments which I hopefully do not have to do. My goal is 5 years. 5 years of this crap condo and then I can make it nice. And pocket that interest!

Luckily the carpet in my bedroom isn't ruined like it is in the LR. Nor is any of the furniture damaged like out here. At least at night and when I wake up I don't feel crappy about my surroundings.

Maybe I won't even bother with this money-pit. Sell it to someone who wants a cheap one to fix up and buy one already done with the massive down payment of this one paid off. Or fix it up 'rental-grade' and make it into Section 8. (that was the original plan for this place - I was never meant to live here. Fell on hard times and had to)

IDK but I feel in my heart I am doing the smart thing.
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Old 02-06-2017, 05:05 AM
Status: "I cannot wait for the heat to break..." (set 7 days ago)
 
Location: Where the sun likes to shine!!
20,368 posts, read 25,504,773 times
Reputation: 87958
Congratulations. It's smart to save or have the money before you fix it up but don't pass up any "really" good deals along the way.

If you have the time you can check your local recycling center or a hazardous household waste facility. They collect unwanted paint leftovers from homeowners and businesses in the area and will let you take them for free. Paint goes a long way to making things clean and fresh. You can paint walls, floors and cabinets


Also if you come across any house demo projects the owners or contractors often throw out cabinets and fixtures.

Good luck to you.
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Old 02-06-2017, 08:25 AM
 
Location: North Idaho
21,008 posts, read 25,794,422 times
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As long as you don't let damage go unrepaired. You can let cosmetic stuff go until later, but damage just gets worse the longer it is ignored.
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Old 02-06-2017, 09:44 AM
 
Location: Florida -
8,242 posts, read 10,006,995 times
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Living in a "crap condo" with concrete floors and ruined carpet for 16-years before paying prices driven-up by 16-years of inflation to then make it more livable - is strange, to say the least.

To most, the concept of a 'fixer-upper' is to use the money one saved by paying less for the property - to fix it up to suit their own tastes. I suppose, if you live there alone and don't impose these bizarre conditions on others, it is your own business. But, in a sense, you are living like a hoarder.
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Old 02-06-2017, 09:49 AM
 
Location: Keosauqua, Iowa
8,880 posts, read 15,644,831 times
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Not really that crazy, unless there are blood stains from a murder scene that you're too cheap to paint over. That would be crazy.
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Old 02-06-2017, 11:54 AM
 
11,632 posts, read 5,477,332 times
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Quote:
Originally Posted by oregonwoodsmoke View Post
As long as you don't let damage go unrepaired. You can let cosmetic stuff go until later, but damage just gets worse the longer it is ignored.
Oh I don't. I replace or repair things that need to be. I mean making it prettier.
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Old 02-06-2017, 11:57 AM
 
11,632 posts, read 5,477,332 times
Reputation: 11029
Quote:
Originally Posted by ylisa7 View Post
Congratulations. It's smart to save or have the money before you fix it up but don't pass up any "really" good deals along the way.

If you have the time you can check your local recycling center or a hazardous household waste facility. They collect unwanted paint leftovers from homeowners and businesses in the area and will let you take them for free. Paint goes a long way to making things clean and fresh. You can paint walls, floors and cabinets


Also if you come across any house demo projects the owners or contractors often throw out cabinets and fixtures.

Good luck to you.
I'm not. My cousin might do one of the upgrades for me that everyone does here - remove this cabinet that hangs down over the island in the kitchen and is a waste of space. That is a strike when the iron is hot thing, and I will pay for the materials and the good rate he'll give on labor.
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Old 02-06-2017, 12:06 PM
 
11,632 posts, read 5,477,332 times
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Quote:
Originally Posted by duster1979 View Post
Not really that crazy, unless there are blood stains from a murder scene that you're too cheap to paint over. That would be crazy.
No murder. No blood stains. It's crappy because it needs upgrades. New floors, the countertops are totally fine, not a scratch or anything on them, but most people upgrade to granite. counters in the bathroom are just fugly. Though I have seen a lot of upgraded units that leave them in (marble- bleh).

I've replaced the a/c, the water heater, the w/d, the DW, the fridge,,,,,,,I was set to do floors and a new stove and then thought no ..... I don't want to pay for 16 more years. So I dumped that money into the mortgage.

It's disgusting to me to pay 2 parts interest and 1 part principle. I think that is stupid.
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Old 02-06-2017, 02:39 PM
 
11,632 posts, read 5,477,332 times
Reputation: 11029
Quote:
Originally Posted by jghorton View Post
Living in a "crap condo" with concrete floors and ruined carpet for 16-years before paying prices driven-up by 16-years of inflation to then make it more livable - is strange, to say the least.

To most, the concept of a 'fixer-upper' is to use the money one saved by paying less for the property - to fix it up to suit their own tastes. I suppose, if you live there alone and don't impose these bizarre conditions on others, it is your own business. But, in a sense, you are living like a hoarder.
16 years? right now, if I make only minimum payments, I have 11 years to go. But I might be able to get that to 5 by giving them every spare penny. IF too many things don't come up that I *have* to repair.

Hoarder? Like hoarding money? I've seen hoarder shows and everything is filthy. And/or piled to the ceiling with crap. I've seen dead animals and such.

Maybe I could find out the price of cheap sticky-floors. They would last five or more years and make me happier with how it looks. Buy a few pretty rugs ......

If that is cheap enough it would solve another problem. Floors are last for a good reason when re-modeling. I saw that in action when my old fridge went out and leaked OIL on the carpet

But doing all the things that need doing before floors is crazy-town. Because EVERYTHING almost needs re-doing.

My Aunt was helping me with getting prices and such and said 'you aren't getting floors, you realize .....'

Because all the rest would have taken all my savings and then some. That's when I said well, forget it then.

What good is an upgraded bathroom and other things with no flipping floors? That's the thing I want most!

When there is no more mortgage I can start re-modeling and do it really good. OR ditch it. Let someone who wants to do it.

Buy one that is already done. I want a downstairs anyway. Possibly upgrade to the one bedroom + den. I've seen some where people did a very nice job upgrading w/o tons of money.

I covet the one my friend used to rent. It has wood laminate, good carpet for the bedroom, all updated appliances, but nothing fancy to drive the price too high.

There is a very wide range here where I want to stay. One can have a tiny one bedroom that is all original old and horrible or the largest 2 bedroom with real wood floors and spa bathrooms, etc.

And a realtor friend to lmk anytime one if for sale and go look at it.
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Old 02-07-2017, 06:14 AM
 
Location: Way up high
14,072 posts, read 20,152,634 times
Reputation: 14320
This makes absolutely no sense at all..
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