Fixer-upper vs. New Build: The Difference
If you are only starting on your home search process, you may be just starting to realize that this can be overwhelming. There in fact are too many decisions which needs to be made and you can in fact easily get sidetracked or discouraged about it. A simple way of setting yourself up for the success from the start is to be clear on your home search and also on your end goals.
A good way for you to start is through identifying first your needs and your wants. Every property comes with its own pros and cons, but this however is based with your situation.
New Build Homes
There are so many buyers nowadays that are actually drawn to the new build homes. This is simply because of the fact that it’s new. The new build homes actually have all of its systems new such as its electrical, plumbing, appliances and also other things. This however is likely one of the most expensive purchase to which you could make, but you get peace of mind knowing that everything is new and doesn’t need any immediate repair or any costly fixes.
There actually are a lot of buyers who are drawn to new homes due to the reason that they are new. New home builders and developers are actually now designing homes meant to target the buyers.
The fixer-upper is another option to which is available. Such kind of property could encompass different homes from a complete gut to the cosmetic fixer. When you are planning to buy a fixer-upper, the most essential considerations would be:
How much work are you going to be willing to do and to how much work does it take to get a property with where you want.
Are you also willing to add on or tear down walls or are you planning to update surfaces and also materials?
The challenge then is on the case of identifying properties that falls within that range.
When you are in the market for a fixer-upper, it will take a certain amount of vision in order to look at a property on its current state and then seeing what kind of potential it has. It would be best if you work together with an experienced real estate agent who could actually help you to identify suitable properties.
Also, when you are planning to buy a fixer-upper, you need to consider your timeline and living situation while your home is still under construction. There are in fact some buyers that are actually on a tight timeline or have limited budget and are also hesitant to get themselves involved with large renovation projects because of the unexpected expenses and likewise with problems that are unforeseen.