If you’re thinking about buying a home these days, you might want to reconsider—unless you’re young and full of energy. Building costs are sky-high and remodeling projects can be a huge drain on your time and sanity. Instead, why not look into buying a home that’s already been renovated? It could save your marriage, trust me.
I’ve bought two fixer-uppers in my time, and I’m done with that game. I’m too old to be swinging hammers and laying tile. These days, I’d rather put my money into real estate investments that don’t require me to lift a finger, like through a platform such as . Believe me, dealing with a bad contractor can turn your life upside down!
But here’s the catch with buying a remodeled home—it’s going to cost you a pretty penny. The premium you’ll pay for a remodeled home is only getting higher. As remodeling becomes more time-consuming, expensive, and complex, sellers are charging more to make it worth their while. And fewer homes are being remodeled, which means less supply and even higher prices.
After the pain of my last remodeling project, I doubt I’ll ever sell this place. Market price just won’t cut it for me anymore.
Back in early 2019, I bought a fixer-upper with great potential. It had ocean views and an enclosed backyard, perfect for my family during the COVID lockdowns. But what really excited me was the chance to expand the ground floor, taking it from a cramped 300 square feet to a more livable 615 square feet, by reclaiming part of the garage.
In real estate, the key is making money on every square foot. If you can build for $300 per square foot and sell for $1,000 per square foot, you’re in business. I’ve done it before, and I was ready to do it again.
But let me tell you, remodeling is no walk in the park. If you stay within the existing structure, things should be straightforward—no need for extra permits or neighbor notifications. But try to add anything new, like a deck in San Francisco, and you’re in for a bureaucratic nightmare. It took me ages to get the green light.
I started my remodeling journey in June 2019, fixing up bathrooms, kitchens, and more. Phase 1 was done by November, a bit behind schedule but within expectations. We moved in and then started Phase 2—gutting the downstairs.
That’s when things went off the rails. Instead of fixing what was there, my contractor decided to tear it all out. And then he disappeared. For months. COVID hit, and everything ground to a halt. It was a mess.
By mid-2020, I’d had enough. I found a fully remodeled home and decided to cut my losses. It was a leap of faith, but staying put wasn’t an option.
Looking back, investing in remodeling during COVID was a gamble. Between the uncertainty and my unreliable contractor, it was a recipe for disaster. But I did what I had to for my family.
Fast forward to now, and my remodel is finally complete. It took far longer and cost much more than I expected. Delays, COVID shutdowns, and bureaucratic bungles all played their part. My advice? Get your permits in order—it might save you a world of pain later on.
Speaking of delays, mine cost me upwards of $30,000 extra. That’s not even counting lost rental income and the toll on my sanity. Trust me, time is money when it comes to remodeling.
Sadly, my story isn’t unique. Since COVID, everyone I know in remodeling has faced delays and budget overruns. It’s a nightmare out there.
If you’re still keen on remodeling, go in with eyes wide open. Costs are rising, timelines are stretching, and nothing’s guaranteed. And if you’re over 40, have kids, or a demanding job, a remodeled home might be worth the premium.
Because let’s face it—your time is valuable. You don’t need the headache of a fixer-upper. Invest in something that won’t keep you up at night.
