Buying a Fixer Upper Vs. a Newly Built Home

Buying a Fixer Upper Vs. a Newly Built Home

Your home is one of the most expensive things you will ever buy in your life and could potentially be where you live for decades. Therefore, you want it to be the right place for you, ticking all the boxes and ensuring it’s somewhere that suits your lifestyle. A big decision that many new home buyers face is whether to go for a fixer-upper, spending potentially a lot of time and cash renovating a home, or whether to choose one that’s in perfect, move-in condition. Here are some of the things you should consider when you have this dilemma. 

Your budget

Fixer-uppers are nearly always the cheapest option, but they may not be the bargain they seem once you work out the cost of a complete renovation. Most people who choose to buy a fixer-upper will use a contractor to carry out the work, so before you sign on the dotted line, you may want to find someone suitable and get some quotes. If the home mostly needs cosmetic repair, you could consider living in it and remodeling one room at a time as your budget allows, although this can be frustrating at times. 

Buying a brand-new home, or one that’s in move-in condition means you pretty much know what you are going to spend up-front. While you may still want to do some painting and primping, you’ll spend a minimal amount beyond the listing price and usual fees. You can also visit this URL to find a detailed comparison in costs that you may be incurring depending upon the type of property.

Personalizing your home

Many people choose a fixer-upper-style property, as they want to be able to put their own stamp on their home. If it’s their ‘forever home’, then they may find the extra money and effort is worth it, as they get a home that reflects their personality. When you work on a fixer-upper, you can choose a bathroom from the range at, get a kitchen that suits your lifestyle, and even do things like change the layout of the home, so your home is as unique as you are.

It can be harder to find your dream home if you opt to look at newer places. You’ll often have to make compromises on certain things, but if you aren’t too bothered about certain design features, or only plan to stay for a few years, then it might suit you to not take on these big projects.

Time and commitment

Another thing to consider when choosing a new home versus a fixer-upper is how much time and effort you are truly willing to commit. One advantage of buying a newer property is that it’s mostly stress-free, you move your stuff in, maybe do a bit of cosmetic work, and your home is ready to live in. If you have a busy lifestyle and want to enjoy your evenings and weekends, this might be perfect for you.

Fixer-uppers, on the other hand, can be a stressful undertaking. You have to really love home design and DIY to take this on, even if most of the work is being done by a contractor. It’s worth reading about people’s experiences with fixer uppers, and the amount of time and stress this kind of project can bring. If you already have a busy life with kids, a career, and other commitments, then maybe now isn’t the time to take it on. 

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