Why You Should Buy A Fixer-Upper

To buy a fixer-upper home or not to buy a fixer-upper home, that is the question. There are many home buyers out there who want to fix up their home and customize it to their liking. And on the other hand, there are those who would rather buy a home and leave it as is. 

Buying a fixer-upper isn't for everyone, but there are plenty of reasons to undertake the endeavor. Here are a few reasons invade you're on the fence.

  1. Always a deal

Most fixer uppers are usually sold for a great price, which is the biggest attraction for buyers. They usually sell for anywhere from 18% - 25% less than comparable homes in the area. 

Keep in mind fixer uppers will require you spend a lot of money on the renovations. Have a contractor give a thorough estimate of what each job will cost, and be sure to budget an extra 5% for the unexpected expenses, because they will arise. 

  1. Making it your home

Fixer-upper homes up allow the owners to customize the home exactly as they wish. What's also need about these, is they let the new owners live in them before they begin renovations. 

On the flip-side, living in a demolition zone can be less than enjoyable. Maybe you can talk to the contractor and see if it can be completed in corners; this can leave you a section of the home to live in while they build.

  1. Sweat equity

A good portion of fixer-upper homes are often older with a different layout than homes built today. The parts of the home that show age and personality may need to be remolded to fit your taste, so don't be afraid to add your own touch. 

Coloring the home to your taste will make you appreciate it that much more. 

  1. Because you are a DIY'er

For those who are quite handy and have a lot of know how, a fixer-upper house will put their skills to the test.and the payoff will be the bragging rights and compliments you hear on your work. 

Just know your limits and what you can and cannot safely do. Contract the harder project out to professionals so you know it's done right.

  1. Because a fixer-upper can be major profit

Everyone has seen the shows on TV where real estate investors buy properties low, fix them up, and sell them high. 

It's not always that simple, as flipping homes takes a specific skill, time, and often a lot of money.

In order to make a worthwhile profit you need to have a keen eye for what needs to be done around the house. Fixing up the wrong parts of the house will waste your time, and more importantly your money. 

It's not uncommon for people to break even on the homes they flipped.

  1. It's an adventure

Fixing up a Home is a drawn out process that shows one’s true creativity. From the starting construction date to the final project completed, it's a giant adventure, so enjoy it. 

Post a Comment