Shows likeHGTV's "Fixer Upper"have popularized the idea of buying and renovating the worst house on the best block. Homes that need major remodeling, however, aren't for everyone. Sometimes a move-in ready house is a better option. Whether you're a first-time homebuyer or a seasoned investor, it's important to understand the pros and cons of each.
Pros of Fixer-Uppers
Lower price --Homes that require some updating tend to be priced lower, and many renovations can quickly add value to your home.
Creative control --When you're the one in charge of updating your home, you can customize it however you choose.
Cons of Fixer-Uppers
Delayed move-in --The planning and work involved to fix it up can significantly delay your move-in date.
Unexpected costs --No matter how well you plan, major renovations are always subject to unforeseen expenses.
Pros of Move-In Ready
Quick move-in --Can't wait to begin nesting? With a finished home, you can start moving in as soon as you get your keys.
Energy-efficient technology --New and renovated homes are often outfitted with the latestenergy-efficient optionswhen it comes to kitchen appliances and heating and cooling systems, which can save you money over time.
Cons of Move-In Ready
More expensive --To recoup the costs of updating, sellers often price move-in ready homes much higher. These homes also don't allow for easy customization.
Questionable quality --When you're not there to oversee the update process, you're unable to ensure that high-quality work and materials are used for your home.
Still not sure which approach is right for you? Takethis quizto help you decide if you're ready for a fixer upper.
Author:Jeff Kunz Phone: 512-438-9728 Dated: June 13th 2016 Views: 104 About Jeff: ...
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