Buying an Updated Home vs. a Fixer Upper- Why & Why Not...

By
Real Estate Agent 0421100

Welcome to my blog! I wanted to follow up last week's post with purchasing an older, fully updated home vs. a "fixer upper". There are pluses and minuses to of these choices.

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It often comes down to three main choices: a new construction property, an older home that has recently been fully updated, or a fixer upper. The last one has different levels of its own. A “fixer upper” can range from just needing a little updating before it’s perfect, to needing extreme renovation to make it your own. Take a look at what's on the market right now: SEARCH. Let's weigh the pros and cons of the two, shall we?

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PROS: This gives you the opportunity to not only save money up front in the purchase of your home, but leaves you room in your budget to make updates.  You can choose a home that allows you to create the layout and feel that you want so you may not have to make as many compromises. Choosing an older home usually opens up a wider range of locations or neighborhoods that fall in your wish list. This can also provide the opportunity to make an investment. You can sell the property later at a higher price once it has been updated.

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CONS: You are never quite know what you’re going to get until a thorough inspection of the home is conducted. Depending on the age of the home, possible issues are: termites, uneven foundation, wood rot, leaks, outdated electrical wiring, etc. It will be important to have a knowledge of how and when the homes were made and hire a knowledgeable and experienced inspector to let you know the condition of the home. It may also take quite a bit of time to renovate thus pushing back your move in date.

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Whatever you decide, purchasing your new home is an exciting process! We all want our new house to become our home. As an experienced real estate agent in The Woodlands and Spring, it would be my pleasure to assist you in your home purchase and/or answer any questions you have. I can also refer you to great inspectors and contractors to meet your needs. If you would like to conduct a home search in the area or learn more about me and my company, please visit My Website. Thank you! 

 

Kind Regards,

 

Mike Seder

Re/max The Woodlands & Spring

26113 Oak Ridge Dr. Suite D

The Woodlands, TX 77380

281-602-8823 Direct

281-362-9496 Fax

seder@mikeseder.com

www.mikeseder.com

 

Comments (1)

Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Mike Seder - nicely covered pros and cons of each. 

Each buyer has a different purpose in mind while buying a property.

May 11, 2015 03:55 PM