So, {{contact.first_name}}, we caught wind that you're trying to buy a house on a budget. 

Who isn't these days?

We know that it's not easy, so we’d like to share with you some of our knowledge and expertise, from human to human. 

You have probably considered picking up a fixer-upper, instead of a move-in ready home.

Good idea! 

But while buying a fixer-upper has its pros, it also comes with some disadvantages. 

Don’t fret, with a bit of preparation and education, these disadvantages become manageable, and you’ll be ready to buy the house of your dreams.

So let's jump right into it! 

First, we’ll take a moment to clear up any confusion. 

A fixer-upper is a house that you can buy at a lower price because it requires significant maintenance work. 

You’ll likely be able to live in the house from the get go, but you will have to dedicate a lot of time and money to structural and/or cosmetic improvements.

Fixer-uppers are best for people looking to get the most bang for their buck, or for those interested in flipping them to make a profit. 

Everyone's situation is different, and yours will determine if buying a fixer-upper is worth it for you. You should consider your lifestyle, budget, needs, and preferences. 

With that in mind, here are some of the pros and cons:

The lower purchase price is the most enticing part of the whole concept. Although it will be necessary to spend more on renovations, your list price and down payment will be significantly lower than if you were to buy a fully equipped home. 

You should also encounter much less competition when buying a fixer-upper, greatly increasing your chances of closing the deal on the desired property. 

Customization is a huge perk as well – if there is anything you don't like about the place, just tear it out and install a new one! 

Finally, you also get full control over the quality of your renovations. You get to choose every variable in the process, which means greater peace of mind…

Now – the cons –

This control over the process also necessitates the choice of materials, colors, contractors, and literally everything else along the way – so get ready to spend a significant amount of time on planning and organization. 

Unfortunately, all those renovations don't come cheap either. 

Depending on the house, it is possible that by the end, you may have spent the same or even more than if you bought a ready house. 

And there is always some sort of absolutely necessary surprise cost waiting around the corner to throw your budget out of whack. 

The last thing is that you’ll essentially be living in a construction zone for the duration of your renovations, which can last for months or even years. 

When you are prospecting for a house, make sure that you get a home inspection, estimate the renovation costs, determine which permits will be required, explore specific fixer-upper loan options, and work with a realtor to ensure that you make educated offers. 

Living in a home that was partially designed and built by yourself comes with a type of pride that not many people get to experience. 

If you do your homework, you’ll be able to determine if a fixer-upper is the right choice for you!

P.S.

If you have any more questions about fixer-uppers, would like assistance in your house hunt, or for anything else, feel free to drop by our office or reply directly to this email to get in touch with us :)