For many people, homeownership is no easy feat. Buying a house can be a life-changing and particularly daunting endeavor, especially for first-timers, considering the lengths you'll have to go through to attain your dream home.
Fixing your credit score, applying for mortgage, and scrounging up enough money for the down payment are only some of the tasks that you need to complete. But perhaps one of the most exciting parts of this venture is getting to attend showings and open houses.
This is when potential homeowners get to scrutinize each listing to find the perfect house. Consequently, this is when you can take note of the flaws of each property, be it with the foundation or the interior design. Doing so will not only give you an inkling of the finances that will have to go into each listing. It will also give you time to ponder the need for home foundation repair contractors in the future.
Additionally, the matter of newly renovated versus fixer-uppers may also come up during this time. If you're a part of the population seeking to take up a fixer-upper as a project, this question is for you: Do you have what it takes? If you do, then great. If you possess at least one of the qualities listed below, then maybe a fixer-upper home isn't for you.
Moving in is a Top Priority
If you're looking to move in as soon as the money has been settled and the ink has dried on the contract, a fixer-upper shouldn't be an option. The clue is in the name. If you buy a home that needs some loving, then you have to be prepared to wait quite some time before it's in the condition you wish to see it in.
You Have Limited Funds
Fixer-uppers are known to be less in market value compared to new or renovated homes. This doesn't mean that they are the economical choice, of course.
Most fixer-uppers require plenty of renovations to be done before they're fit to live in. This means higher costs depending on the style and materials you want your home to have.
You're a Busy Person
Renovations take a lot of time to accomplish regardless if you're doing it on your own, or with partial or full outside help. You're bound to lose weekends and hours dedicated for relaxation to working on your home.
If you don't have the time nor dedication to long-term commit to renovating your home, maybe purchasing a newly renovated home is a better option for you.
You Don't Have the Skill Set
People who purchase fixer-upper homes tend to take them on as DIY projects. While online tutorial videos have made things like drywall finishing and cabinet making appear easy, the skills required to actually complete them don't come naturally.
It takes months or years of practice. If you have neither and are just being spurred on by passion, it may be time to curb the enthusiasm and go a different route.
