Buying a fixer-upper? Or a move-in ready home?
If you’re looking to invest in a home, you may be having a tough time considering your options. Buying a move-in ready home has its benefits, but there’s also a lot to be said for fixer-uppers.
If you’ve got the imagination and know-how, the thought of strapping on your tool belt might have you raring to go. If you’d rather not get your hands dirty and focus on personalizing an already perfect space, it’s a no-brainer. However, it is probably best to consider both options before getting out your checkbook.
When faced with the myriad opportunities the housing market has to offer, it makes perfect sense to feel a little indecisive. Let’s go over the pros and cons of both to help you make your decision!
Is a move-in ready home for you?
If you’ve got the money and have found something that suits your needs, the purchase of a finished house might be the perfect decision. The prospect of a blank canvas to make your own is an alluring one. Even if the house is finished, there’s still room for improvement.
Just because there aren’t any leaks in the roof or peeling paint to deal with doesn’t mean things have to stay the way they are. With a little imagination, a move-in ready home is a perfect foundation to get creative. Without any of the pressing issues a fixer-upper may present, you’re free to focus on what comes next for your real estate investment.
Moving into a home you know to be structurally sound is great for peace of mind, especially after handing over what’s sure to be a substantial amount of money. Buying a home that won’t need any maintenance for a long while will leave you to move in and enjoy the experience rather than stressing about repairs.
The potential of a fixer-upper.
While a move-in ready home boasts a much less stressful process, all in all, the potential of the fixer-upper is hard to ignore. For a start, they’re likely to be considerably less expensive than the alternative. However, the price difference can soon catch up to that of a home that doesn’t need any work if you’re not careful.
Depending on the materials you choose and if you employ professionals, the end price might be more than buying a finished home. Conversely, if you’re a savvy type and well-versed in the arts of DIY, you could end up saving a fortune! This mostly depends on how you feel about the process of fixing up a house and putting in the necessary work.
Ask yourself if the thought of rolling up your sleeves appeals to you. Many people buy fixer-uppers for precisely this reason, knowing they’ll enjoy the process and satisfaction in the result. Working on a house and turning it into something unrecognizable also affords a level of appreciation and connection that only comes through working on it yourself.
Getting your hands dirty.
It’s often the path less traveled that feels the most rewarding. Even if you’re not familiar with the weight of a hammer in your hand or the achy arms that come from painting a ceiling, that doesn’t mean you won’t take to it. The purchase of any kind of house marks a new beginning, so it’s the perfect time to try something new.
House renovation is a project that many agree to be one of the most rewarding processes they’ve ever undertaken. The journey might be stressful at times, and the outcome uncertain, but in the end, there’s potential for the satisfaction you don’t get when buying a finished product.
A move-in ready home affords a lot of potential for personal touches in decoration and finish. A finished fixer-upper feels more like an entirely personalized project, in and of itself. The beauty of turning a near-derelict house into something livable is that you choose how it’s done every step of the way, leaving you with a house tailored specifically to how you like it.
Choosing the right foundation.
If you decide to buy a home that needs work, it’s a good idea to consult professionals. Asking a dependable real estate agent to help you find a house that’s solid enough to build upon should be your first step. They’ll be able to put you in contact with an inspector who can double-check the state of the foundations.
House renovation can be a fantastic opportunity to learn new skills and develop your capabilities, but it’ll turn into a nightmare if the foundation isn’t solid. There’s no point investing your hard-earned money only to find out the house you’ve bought is built on proverbial sand. If the deal seems too good to be true, it often is.
Independent inspection costs on average approximately $340. This is cheap considering the amount of heartache you’ll avoid if you find out the structure isn’t sound further down the road. Putting your time and money into a building only to learn you’ve been duped is easily avoidable.
Home is where the heart is.
Whichever route you decide to go down, asking for help from professionals is advisable. The purchase of any kind of real estate is a large undertaking and shouldn’t be done on a whim. Taking the time to carefully weigh your options and consider professional advice will ensure that whatever your decision is, you can take it with confidence.
If this article has helped you off the fence while choosing between a move-in ready home or a fixer-upper, check out the rest of the blog for more tips! When it comes to buying or selling houses in 30A Florida, 30A Local Real Estate has got you covered!