When you’re buying a home, it’s easy to get caught up in questions of affordability, location, design, and more. How do you prioritize your wants and needs? Many people are faced with the dilemma of buying a house in the place and at the price they can afford, but with décor that’s decades past its prime. Others feel stuck spending more money than they’d planned, just to get into the “dream home” they’ve always wanted.
We want to help you make your decision by breaking down pros and cons of buying both fixer-uppers and turnkey homes.
Fixer-Uppers
Pros:
- These homes are usually listed under their potential market value. The real challenge is determining how much money and time needs to go into the house to make it what you want. Budget and timetable will be the deciding factors in whether it’s a good deal.
- A fixer-upper allow you the freedom to design a final look of your own choosing. You can be involved in every step of the renovation.
Cons:
- Fixer-uppers require more work and time, even if you work with professionals during the whole project. Finding the right contractor, selecting finishes, and doing the work all takes time and research.
- Costly problems can be found once you purchase the home. This can happen is any home, no matter the age, but it’s more likely to occur in older homes.
Turnkeys
Pros:
- Moving in is easy. You can enjoy your new home as soon as you close on it. Financing is also easier on a turnkey house.
- You’ll have few worries about potentially large repairs and renovations on move-in day, which can provide peace of mind. Oftentimes the buyer also receives a one-year warranty, just in case something was to go wrong.
Cons:
- These homes are almost always more expensive because they don’t require the initial work or maintenance of fixer-uppers.
- You’ll most likely keep the current look because it wouldn’t be cost-effective to customize or personalize major portions of the home.
At Property ReVision, we can help you find and renovate your next fixer-upper, or help you find and move into your next turnkey house. Before you make a decision on your next house, we’d be happy to walk you through your options. We can offer you peace-of-mind to ensure you’re making the right decision. We will be there every step of the way, making it enjoyable and as stress-free as possible! Contact us, and soon, you’ll be enjoying the home of your dreams!
