Ashleigh Hopkins

$5,000 shows up in your mailbox with one stipulation: You must use it to remodel your home. Would you:

• Get a fresh coat of exterior paint? (National average: $2,802)
• Get new hardwood floors? (National average: $4,386)
• Install a patio or pathway? (National average: $4,193)
• Install built-in shelves? (National average: $2,875)
• Install landscaping? (National average: $3,353)

What home renovation would you do with an extra $5,000? Comment below!

*National averages are from HomeAdvisor

Fixer-uppers are NOT for the faint of heart!

Before pouring your hard-earned cash into a fixer-upper, ask yourself:

- Do you have the patience of a saint? Labor shortages and supply chain issues are causing even minor home repairs to drag on and on. Patience, flexibility, and time to wait best be your best friends.
- Do you have the time and capacity? Taking on a fixer-upper is incredibly exciting, but it can also be all-consuming. Ask those who know you best their thoughts about your potential new project.
- Is the price right? All that fixing is gonna take cash. Talk with your realtor and a trusted lender to set right expectations about what you can afford.
- Where will you live during renovations? With a move-in ready, you just, well, move in. A fixer-upper, not so much. To make it work, you’ll need a place to crash or fork out for a rental.
- Is your partner on board? Fixing up a home tests every relationship to its core. If you and your partner aren’t on the same page, something move-in ready will be most harmonious for the home front.

Have you bought and survived a fixer-upper? What’s your best “been there, done that” tip for buyers? Share it in the comments below.