Being a homeowner is one of the most enduring milestones of the American experience. In the past year, millions more Americans have taken on this cornerstone of the American dream.
If you’re looking to find your first home, you may be weighing your options between the kind of time you can take on. What’s better: move-in ready vs. fixer-upper?
There are advantages to both kinds of situations, and it’s worth learning about the pros and cons before you start your home hunt. What do you need to know? Read on and we’ll walk you through the basics.
Benefits of a Move-In Ready Home
The biggest reason to consider purchasing a move-in-ready home is right there in the name. You don’t have to wait for anything, you can move right on into the property and get your new life started.
Even if you want to make a few changes around the home, like paint a few walls, you won’t need a big renovation budget set aside.
The major benefit here, as you can imagine, is that you don’t have to deal with the stress, work, and expenses of fixing up a less-ready home. Buying a move-in-ready home will mean you’ll have the latest appliances, layouts, and fixtures and that everything should be up to code.
Of course, the flip side of all this time saved is that you’ll need to pay a much higher overall price for the property. All of that hard work the home builder put in isn’t going to come cheap!
Benefits of a Fixer-Upper Home
If you’ve got time and a DIY spirit on your side, buying a fixer-upper home can come with many benefits as well. It will be the inverse of the above experience: you’ll purchase the home, but it could be many months before you’re able to actually move into it.
The major benefit of buying a home that needs work is that you’ll get an amazing price for it. Homes that need work, listed on sites like SellersAdvantage.com, are often priced far below their true value.
All it takes is someone willing to come in and put in the work that the owner of the property wasn’t. In order to ensure you’re getting a good deal, you’ll want to price out and budget all the renovations you’d need to do to get the home to a good place.
If you do all this budgeting and find that you’d still save a lot of money in purchasing the home, it can be well worth the work you’ll need to do.
Move-In Ready vs. Fixer-Upper
If you’re stuck on the fence between buying a move-in ready vs. fixer-upper home, you’ll want to read the above information. Understanding the benefits of both options can make it easier to make a decision for yourself.
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