Buying a fixer-upper does have its advantages for those who are handy around the house, but taking on a project of that magnitude can be a daunting challenge. That's why many people would rather purchase a move-in ready property because they appreciate the benefits that come with it.
If you’re unsure which choice is right for you, then consider the differences between buying a fixer-upper and a turn-key style home.
Some benefits of buying a move-in ready home are:
- 1. It makes the home-buying process much simpler. When you’re able to purchase a move-in ready home in your ideal neighborhood, you are saving yourself a lot of time and stress. There are many steps to follow, of course, but buying a turn-key house lets reconsider your renovation budget. You won’t have to reimagine each room. Instead, what you see is exactly what you’re buying.
- 2. There’s no work involved. Many people prefer move-in ready homes because they want to walk right into their new place and not have to do a stitch of work. If you're in this category, then this type of property is your best option. This way, you won’t have to hire a contractor, pick out flooring, paints, kitchen countertops and cabinets, or deal with unforeseen expenses that can arise in any renovation project.
- 3. You don’t have to live in a work zone or find another place to stay until the work is done. When you purchase a fixer-upper, you may have to live in the middle of the renovation chaos or find another place to stay until the project is complete. Finding a temporary living situation be a headache after you've gone through the stressful process of buying the house. Any unexpected delays as you fix up your new place could force you to stay put for a while in your temporary abode. And that could cost you money if you end up staying a hotel. For some people, it just isn’t worth it. Move-in ready homes let the buyer move right in and start decorating, rather than knocking down walls and starting from scratch.
Buying your first home? Learn more about your financing options here.