How We Bought And Sold A Fixer Upper In 6 Months

bought and sold a fixer upper

It would be wrong of me to talk about the $81,400 worth of debt we paid off without talking about how we bought and sold a fixer upper in 6 months.

Tackling the huge project of buying, renovating and selling a home not only helped us pay off the remaining $32,000 balance of our consumer debt, but it allowed us to walk away with a healthy chunk of change for our next home. Here is the first post I ever wrote about the Spanish mission house that we bought last summer.

Bought And Sold A Fixer Upper In 6 Months

How could we afford the fixer upper with so much debt?

We lived in one house – a home my husband built after college – for 8 years. The Florida real estate market has been less than desirable most of the last decade, but prices started to climb last spring. We decided it was our chance to walk away with some cash.

I should also mention that our decision to sell that first house was based on school district. Not based on debt or debt repayment. We also made the decision to invest every penny of our first home profit into our next home.

Also, we already paid off more than half of our debt before we bought our fixer upper.

How did you find the fixer upper?

We found the house by driving around a neighborhood we wanted to live in – mostly daydreaming of how awesome it would be if we came across a property we could afford! In a serendipitous twist, we noticed a small “For Sale By Owner: OPEN HOUSE” sign in the yard. (That the owners said they just put in the yard.) We pulled in the driveway, walked the house and sent over an offer the next morning.

Bought And Sold A Fixer Upper In 6 Months

What did we fix in the fixer upper before selling for a profit?

I know you’re wondering what exactly do you mean by fixer upper? (Was the home condemned or did the house have a pink wall in the bathroom?!)

Our fixer upper was mostly cosmetic with the exception of a full kitchen and bathroom renovation. Also, we paid for a full inspection prior to purchase. We knew we wouldn’t have money to tackle a major issue like a foundation crack or an entire A/C replacement.

Bought And Sold A Fixer Upper In 6 Months

Did you do all the work yourself?

Almost! My husband and I worked harder than we ever have in our entire times to complete this massive project. We did pay a professional tile crew to lay 1,000 square feet of tile in the main living area and in the shower.

If you check out the before and after pictures post, I detailed all of the work that was complete in each room!

How much did you spend fixing up the house?

Sorry, I’m not going to give you the exact number. But I will say that it was a fraction of the number you probably have in your head. In fact, the entire house and yard renovation was less than the kitchen center at Home Depot quoted me to order and install kitchen cabinets! My husband has been in home building for a decade so he did know the right people to call for some jobs. That being said, we still saved thousands (and thousands and thousands and thousands) of dollars doing work ourselves.

Bought And Sold A Fixer Upper In 6 Months

Where are you living now?

We decided after buying and selling two homes in a year, we needed a break from home ownership. Even though we have enough to put 20 percent down on a new house, we are taking our time to find our forever home. In the meantime, we are renting an adorable 1,350 square foot rental home in the same school district that even includes lawn care.

Are you going to flip another fixer upper?

Probably NOT! While the house changed the entire projection of our financial future, flipping a house is HARD WORK. Unlike the fixer upper shows on TV, we lived in the home while most of the construction was being done. It was the most emotionally and physically draining experience of my life. I hated living on a construction site.

Even when I so tired I could cry, I would see a wall needed to be painted, baseboards that needed to be caulked and a door that needed to be installed. The same reason that my husband and I we uber successful at fixing up a home was the same reason we probably will not do it again. We go into everything 100 percent and have a hard time stopping until projects are complete.

We worked ourselves to the brink of total exhaustion.

All that being said, NEVER SAY NEVER. 🙂 

If you want to check out the final before and after pictures of the house, check out this post:

 

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