Yes. I purchased a 1910 bungalow (with good bones) which had been a rental for several years and was in dire need of maintenance and repairs. While my family and I lived there, I pretty much "gutted" it to the studs a section at a time. I relocated the kitchen and one of the two bathrooms to different locations. I relocated the basement stairs. I added and enlarged some windows and moved the backdoor to the new breakfast area. Installed new kitchen cabinets and laid flooring throughout.
Since I was employed fulltime, all the work was done on nights and weekends. Needless to say the project took longer because of this. All the work was permitted and passed inspections on the first go-round. The only trade I hired out was the rough-in plumbing. Although I did all the electrical work myself, a friend of mine who was an electrical inspector for the city gave me instructions on how to do this work but did not do any of the actual work himself.
When I sold the house several years later, I quadrupled what I paid for the house plus the cost of the remodel. It sold within days of going on the market. So, all in all, it was worth the effort. The one downside is that I tend to be a little OCDC which meant I was much harder on myself and the quality of the work then I would have been had I hired a contractor.
The house where I currently live was built in the late 70's. Although it has been almost completely renovated now, I did very little of the work myself. My goal was to make this our "forever" home rather than a flip or spec property.
I am satisfied with the results and the house appreciated from a purchase price of a little over $200 K in 1998 to almost $800 K today. A lot of money was spent on contractors over the years. I also spent a considerable amount of money buying only high-end materials, including the appliances, new furnace, added air-conditioning, mini-splits for the upstairs rooms, a tankless water heater, 3/4" solid hardwood floors throughout the house which was previously all carpeted, plumbing and lighting fixtures. New landscaping including a new driveway cost me $75 G's. Most recently, I replaced the roof which is 40 squares at a little over $100 a square.
I lovingly call this place ‘the money pit’ realizing this is of my own making.
