Question

I know Kumiko has talked about her dream home journey a bit and that her plans changed to buy a home and renovate it over time. Is there anyone in here who’s done that while living in the home? We have about a year before we have to be out of our rental and have a decent size down payment saved up, but the homes we are seeing are a bit more than what we were hoping. I’m wondering if we should consider a home that is livable and the size we need but doesn’t fit our style perfectly and then cash flow different projects (like renovating a bathroom or converting to an open floor plan).  

Answer 1

We are doing it now! Bought a very large fixer upper for a few reasons. Mostly didn’t want to have to move again as we grew our family. We got a steal! 4 bedroom for $155k in CT. We cash flow for sure and every year for Christmas and birthdays we ask family for Home Depot and Lowe’s gift cards. It helps if you’re handy! Sometimes, the to-do list seems never ending, but I wouldn’t change it for the world. Current project is our master bathroom  used Christmas gift cards for the tile I love and bought a double vanity off Facebook marketplace. Can’t wait to have a master bath!  

Answer 2

We lived in the home through our last renovation (a total gut job) it was rough lol. We had a contractor and the work took around 3 months to finish completely. We have since sold the house and downsized significantly while I finish grad school since I am not working fully time anymore Our plan for the next house is to get another fixer but live in our downsized home while it’s being done. We want to stay here even though I should graduate and come out making close to 6figures to save a good sized down payment and set aside money to live here while the other is under construction (we will use a contractor again) Then this home will be our first rental property Here is hoping all goes to plan haha

Answer 3

We picked one in an area that would resell well and have slowly been doing cosmetic remodeling. We did granite and the master shower lasted year. This year we will finish bathrooms and kitchen and maybe floors if we have enough money. We’ve been in it 3 years.  

Answer 4

We bought my in laws house and plan on fixing it up and selling one day. Is it my dream home? No. It doesn’t even feel like “home” to me, but my kids are happy and they’re in good schools. We plan to completely update the house, add one more room and then sell when the kids are out of school so we can get our forever house. It’s not ideal, but it’s a win win for everyone. Kids are happy in their school, and I’ll one day be able to get the house of my dreams.  

Answer 5

We are literally 2 years into remodeling while living in our home. We bought a business that happened to come with a house. The house has good bones but the ENTIRE interior needed remodeled after being a rental for 20 years. It's been a process but we're close to the end.  

Answer 6

We have done that in 2 homes! The kids think of it as an adventure, trying to figure out how to make dinner without a kitchen or taking a shower with a garden hose. It's totally worth it. My kids are outdoor kids anyways so they dont spend a whole lot of time in the house, so dont have to worry about things for them to do.  

Answer 7

I wouldn’t say ours is a “fixer upper” but it’s old, and the original owner definitely thought he was a handyman when he clearly wasn’t lol. So we’re fixing lots of things that he broke/lived with. It’s actually really fun for me! I love getting to touch all parts of my home and I feel a unique sense of ownership. I also have a bad habit of clothing shopping most weekends when I’m “bored” but all these projects have kept me occupied and I know I’m spending minded to put equity back in my pocket.  

Answer 8

We lived in ours while we remodeled. We moved in with no kitchen (nothing but cupboards) slept in the same room as kids for 3 years. We washed dishes in the bathroom, had a cooler outside and it was winter, cooked in a crockpot for 3 months. No countertop either. Paid $15, 000 for a 2, 500 sq ft house. 7 years later we have 1 bathroom to finish and the laundry room to do. No mortgage.