Can you take on renovations or should you buy an updated home?
You’ve found a home in the perfect location, but it needs some work. Think you’re up for the challenge? You may be! But before you go knocking down walls and picking out backsplashes, here are a few things to consider:
Fixer-uppers take time and money…and more time and money. If the work and time needed sounds overwhelming, narrow your search to new construction and recent renovations.
Most buyers renovate at least a little. Unless you’re moving into a custom home, there’s a good chance you’ll be making at least minor renovations when you move in. Don’t shy away from nominal improvements if the price is right.
Move-in ready costs more — almost $33,000 more on average. The difference is largely due to the newer home systems and materials found in a move-in ready; things you’ll probably want to upgrade if you purchase a fixer-upper.
Financing may be easier than major renovations. Financing a fixer-upper may take a little finagling. Make sure you figure out how you’re going to fund your projects before you get your heart set on a diamond in the rough.
Move-in ready or a fixer-upper, I’m ready to hear what you’re looking for! DM me and let’s chat about your next home.