Should You Buy a Fixer-Upper or a Move-In-Ready Home?
Fixer-uppers are NOT for the faint of heart!
Before pouring your hard-earned cash (and potentially a lot of your time and sweat) into a fixer-upper, ask yourself:
- Do you have the patience of a saint? Labor shortages and supply chain issues are causing even minor home repairs to drag on and on. Patience, flexibility, and time to wait will be your best friends.
- Do you have the time and capacity? Taking on a fixer-upper is incredibly exciting, but it can also be all-consuming. Ask those who know you best their thoughts about your potential new project.
- Is the price right? All that fixing is gonna take cash. Talk with your realtor and a trusted lender to set right expectations about what you can afford.
- Where will you live during renovations? With a move-in ready, you just, well, move in. A fixer-upper, not so much. To make it work, you’ll need a place to crash or fork out for a rental.
- Is your partner completely on board? Fixing up a home tests every relationship to its core. If you and your partner aren’t on the same page, something move-in ready will be most harmonious for the home front.
Want to talk more about fixer-uppers? We have a ton of personal experience to share. Reach out!