A Diamond In The Rough
By Katie Baker
Photos by Holly Dobbs Photography
Have you ever wanted to try your remodeling skills and flip a house? Perhaps in 2021 you are looking to buy a fixer upper that will someday be your dream home. In 2011, Katie Baker and her husband embarked on their fixer upper journey when they bought an “As-Is” home in Columbia and began the renovation process to make it their forever home.
Now in real estate terms, “As-Is” means the seller does not want to fix anything knowingly broken on the house or anything that may be called out as needing to be repaired during the inspection phase of a contract. A buyer may still request to perform inspections in their contract, but the seller is letting it be known on the front end they would like to sell the home in whatever current condition it is in at the time of the sale.
Maury County had 134 homes that were noted as being sold “As-Is” in the 2019 MLS system.
Before the Bakers purchased their ‘diamond in the rough’ house, it was revealed during the initial walk through the home needed cosmetic repairs top to bottom as well as routine maintenance. Everything discovered so far had been the reason previous buyers said “No” to the home, but when Baker walked through the house she saw a kitchen large enough to hold her big Italian family marveling at 12’ coffered ceilings and imagined what this house would look like with thoughtful, strategic updates over time. Many people find it difficult to see past the ‘clutter’ envisioning what it could become. Therefore, it is important to work together with a realtor to determine if the home will meet the needs of your family and what the return on the investment could be after remodeling.
Where To Begin
A renovation plan is essential after purchasing a fixer upper to help keep the project on budget. The Bakers have now lived in the home going on 9 years and the first thing they did after closing was walk through every room making notes on what needed to be done and what items they wanted to update to reflect their own style. “It is important to realize what repairs should be addressed first especially if they are damaging or degrading the home value,” Baker explained. “Once repairs are identified, it is easier to budget for the style improvements.” Buyers also need to set realistic time expectations for the overhaul process. The Bakers gave themselves 18 years of grace to realize it was not going to be completed all at once, which took the stress, both mental and financial, off their shoulders.
The first project on the Baker’s list was to paint the entire inside of the house, which is one of the most affordable updates especially when painting is DIY. When choosing interior colors for a home there are several factors to consider, but most importantly is whether the home is a long-term home or a short-term flip. A flip home is best updated with neutral colors that will appeal to a variety of buyers, where a long-term home owner can decorate to their tastes with the understanding bold choices may need to be neutralized when it is time to sell.
Expect The Unexpected
It is common during renovations to discover unexpected repairs, which can affect the overall cost of a project. To help manage these unanticipated costs, make sure to have back-up design selections and reuse existing items whenever possible. The second project scheduled for the Baker’s home was a simple update of the master bath, however, an unexpected leak in the shower turned it into a complete renovation.
The original travertine bathroom included warped vanities, a shower missing two walls, and a copper surround tub in need of refinishing. Upon removal of the copper bath surround, a crack in the tub insert was discovered making it impossible to reinstall. It was at this point, the decision was made to redesign the room as a classic, neutral space accented by the original copper tub surround and gilt mirrors demonstrating the best-laid plans can go awry during a renovation.
The final touches were nearly done on the master bath when the unexpected happened again. A contractor accidentally hit a water pipe while installing the new vanities, which sent gallons of water pouring into the downstairs living space. This meant addressing the main living area floors was quickly moved to the top of the list.
The Floors
The great debate on floor improvements is when to update them, before or after moving into the home. Before moving in means a Buyer has a blank slate to work with. In the Bakers case, refinishing the downstairs hardwoods with a custom stain and replacing carpet upstairs with hardwood floors meant moving out of their home. The move out also allowed them to reconfigure a wall between their den and playroom to provide more space for entertaining. Tackling the floors and the den may not have been the next projects in line, but they still contribute to the Bakers final vision for the home.
In a fixer upper home one project often leads to another as a homeowner attempts to cohesively redesign their space. Because the Bakers have a long-range plan for their home, they were able to easily pivot from one project to the next by consulting their original renovation plans as their fixer upper adventure continues. Purchasing a fixer upper may be a challenging concept for the novice buyer, but with the right guidance and ability to see a home’s potential lies the opportunity to turn a good deal into a great investment.
Katie Baker is a local Realtor and owner of the Katie Baker Group with RE/MAX Encore in downtown Columbia. Katie and her team of professional agents work to elevate the real estate experience while overseeing every aspect of a sale.