Nearly 29% of home buyers stated that the primary reason for buying is the desire to own their very own home.
Do you dream of owning your first home? Have you spent countless hours looking at home listings and imagining yourself in your future home?
There’s a lot to consider when it comes to purchasing a home. One consideration you might make is whether to buy a fixer-upper or move-in ready home.
If you’re interested in learning more, check out the advantages and disadvantages of buying a fixer-upper or a move-in ready home.
Fixer-Upper
Maybe a fixer-upper home is the ultimate do-it-yourself project for you. Maybe you’ve been dreaming of the exact flooring, cabinets, and other details you want for a home. Certainly, popular shows on television make it seem possible. Here are the pros and cons of buying a fixer-upper:
Pros
The major advantage of a fixer-upper, of course, is that you can save money on the price of the home. This is a major pro, especially if you have a specific budget for a home in mind.
Another pro is that you get to be in control of designing your home. This is an advantage if you have particular renovation ideas in mind.
Cons
Be aware of hidden costs when it comes to purchasing a fixer-upper home. There is the cost of the renovations, and there is the cost of hiring people to do the renovations.
There may also be hidden issues with the house that will cost you even more money to fix.
Moreover, there is the cost of your time. It’s going to take a lot of your time and energy to renovate a house. Also, if the house isn’t ready by the time you’re ready to move in, you might have to find somewhere else to stay until renovations are done.
Move-In Ready Home
If you don’t want to deal with the work involved with a fixer-upper home, you might want to consider a move-in ready home. Here are the pros and cons:
Pros
The average American will move about 11 times in a lifetime. Moving can be exciting, but it can also be stressful.
The biggest advantage of a move-in ready home is that it will be ready for you to move in. There is no hassle with renovations or fixing up everything. Moreover, a move-in ready home will also more likely have modern upgrades.
Cons
A move-in ready home is going to have a higher price tag than a fixer-upper. Also, the features and design of the home are already set, so you would have to pay if you wanted to change anything.
Should I Buy a Fixer-Upper or Move-In Ready Home?
Wondering whether it’s better to buy a fixer-upper or move-in ready home? The choice ultimately depends on your personal preferences and other factors.
If you dream of renovating an older home, then make sure to consider other factors such as renovation costs when purchasing a fixer-upper. If you’re dreaming of modern amenities and features, then you might want to go toward a move-in-ready home.
No matter which route you decide to take, you can contact us to learn more about finding your dream home.
