That humble little home that you happened to find by chance can end up being a great investment and the house of your dreams at the same time. Perhaps it's a foreclosure listing, or maybe you're a newlywed looking to own for the first time, and the two of you are enthusiastic about fixing up an old home with some charm. Either way, you will have some work cut out for you. Use these steps and don't wait too long to bring in some professional contractors. 

Get a couple of different home inspections before purchasing the house

Because you are choosing to fix up an old house, you need to make sure that there are no deal breaker type problems wrong with it. You can dig beneath the surface of any potential problems by hiring a general contractor to assist you with a home inspection. Make sure that you get a couple of these inspections just so that you can be sure this is the home that you want to buy. 

Have a proven general contractor handle this work so that you can take their opinions to the bank. Any quality contractor that you reach out to will typically be busy right away so you will need to set an appointment for the home inspection. Document the home inspection and address any matters that they suggest you fix or negotiate with the seller to see if they will handle it. To learn more, contact local home inspection services.

Map out the home improvement based on periodic projects and steps

It is best to improve the household little by little, instead of expecting to make it a brilliant gem all at once. Take time to map out the most important improvement projects, starting with whatever work needs to done to make the home livable. Once you move in, you can then start handling bigger improvement projects as your time and budget permit. 

Map out the time tables quarterly, every month, or on other schedules that will let you stretch your home improvement money out and improve the property as needed. You can bring back so much value to the home by addressing everything from home improvement matters to overhauling both the front and back yards. 

You can set up these project timelines similar to how municipalities do it—with a budget on the front end, bid quotes, and extensive research before moving forward with the timelines.