Things to Consider Before Buying a Fixer-Uppersubmitted on 4 February 2015
Whether you're moving across town, across the country, or to a completely new country, you have plenty of things on your plate to consider before the move. For example, you have to first figure out your budget for a home and determine what loan amount you qualify for.
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But one of the biggest things you'll need to consider is whether or not you want a fixer-upper or a move-in ready home. What are some of the perks and drawbacks of a fixer-upper?
A Completely Customisable, and Very Affordable, Home
When it comes to a fixer-upper, you get to basically work with a blank slate to create a totally customised home that works for your needs. This is one of the main reasons why people seek out fixer-uppers in the first place—in addition to the obvious fact that these homes are priced much lower than others that are move-in ready.
If you're the type of person who would want to make a lot of renovations to a property before completely settling in, or if you don't have a high enough budget for the move-in ready home of your dreams, a fixer-upper could be the ideal solution. You get to design the home as you envision it and you get to save money too. Just be aware that renovation costs can quickly add up, so you really need to do your research and crunch some numbers to determine what would be the best area to invest in and what type of home is right for you.
You'll Need a Really Good Home Inspector
It's also a good idea to search for a great home inspector in the area before you even start looking at homes. Make it a point to let the home inspection company know that you're searching for older homes that are in need of a lot of repair. In this way, you'll work with an inspector who really knows what's in need of repair throughout a home you’re considering purchasing and renovating. This will also help you determine what the actual costs of the renovation will be before you make the purchase.
Think About What You're Able to Do Yourself
Taking a DIY approach to your home renovation is a great way to save a lot of money. But do you really have the skills and know-how to make major repairs? While there are certain improvements you can make on your home, leave it to the experts to make extensive changes to the structure of your home, as well as any other major repairs. And remember to look into any necessary permits before you begin so that you don't run into problems along the way.
Overall, a fixer-upper could be a great investment that gives you a high return on your money. By keeping the above tips in mind, you'll be able to save the most money and make the best choice for your family.
This article was contributed to us by Wynnes Removals.
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