by Wendy Dessler, Guest Contributor
When buying a new home, you have a lot of choices. With there being millions of homes sold each and every year in the USA alone, there is no shortage of options. Many people opt for a home that is move-in ready, so they can move in and not have to worry about having a ton of work ahead of them.
1.They Are Often More Affordable
One of the biggest benefits of fixer upper is that they can often save you money. Buying a home is quite expensive, and can easily cost you hundreds of thousands of dollars. However, if you buy a fixer upper that is in need of work, it is surely going to cost you less.
The exact price reduction you will get will vary, but you should generally expect to pay quite a bit less for a fixer upper than a standard home. ISoldMyHouse.com blog points out that buying a fixer upper can often get you much more home for your money, and can provide an affordable path into the neighborhood or city of your dreams.
2. They Have a Lot of Potential
If you want to create your dream home or are a lover of DIY, a fixer upper is perfect for you. They are essentially a blank slate, and allow you to design and create your home as you choose. You are in full control of the colors of the home, the designs and possibly even the things like floors, walls and countertops.
In addition to being able to create your dream home without having to worry about doing the demolition, these fixer upper homes also have potential for investors. They can be bought affordably, and if you fix them up, you can certainly sell them for profit. The potential is there, it is up to you to harness and take advantage of it.
3. Less Competition From Other Buyers
When buying a home in a hot real estate market, there can be a ton of competition from other buyers. This drives up the price of homes, and makes it difficult to get a home for a good deal unless you can act incredibly quickly or are quite lucky. Getting a home in this type of market can be very stressful and painful.
However, when you are interested in a fixer upper home, there is generally much less competition from other buyers. Most people interested in buying a home simply don’t have the time, energy or passion to deal with a fixer upper and go through all of the renovations. This often gives you more homes to consider, and allows you to be in the driver’s seat when negotiating.
The home buying process and the moving that follows it can be daunting, and most people don’t want more work. However, that’s not always the case. Buying a fixer upper is increasingly common. A fixer upper is essentially a home
But what are the reasons for buying a fixer upper compared to a home that is done, renovated and move-in ready with no extra work required? With that in mind, this article is going to look at some of the benefits of a fixer upper.
4. Can Be Incredibly Rewarding and Satisfying
While this is often an underrated benefit, it is certainly a benefit nonetheless. There is a certain satisfaction that comes with doing something yourself and creating something from scratch. Working day and night to take a fixer upper to your dream home can be incredibly rewarding.
You can be incredibly proud of what you did and how you did it. While it will take time, and there will certainly be some frustrating moments, there is nothing quite as rewarding as completing a home project on your own.
In conclusion, there are many different benefits of buying a fixer upper. Of course, be aware of the potential drawbacks and always do your research before making any purchases.