Whether you are just beginning your home search or have been looking for a while, you likely have a good grasp on the priorities you have as you look for your new home. If you’re having trouble finding exactly what you want, you may want to consider a fixer-upper to meet your needs. However, before you make that purchase, carefully consider all the pros and cons associated with a home that will require some work before it is move-in ready.

Reasons to Consider a Fixer-Upper

Everyone knows that a home that needs updating or significant renovations is going to be a lower-priced listing. However, it's important to consider the bigger picture and not just the listing price when evaluating the purchase. Three of the main advantages of buying a fixer-upper are:

1) With renovations, you can create the exact home you want by choosing the style and finishes you’ve pictured all along.

2) There is less buyer competition, and you may be able to find a home with good “bones” in the neighborhood you want without overpaying due to competition.

3) Greater flexibility in your budget. You can decide your spending priorities and the timing of each phase of your home renovation to fit your budget.

Cons of Buying a Home That’s Not Move-in Ready

Some home buyers simply don’t have the time to deal with a home renovation, and that can be enough of a reason to choose a move-in ready home. Remodeling any space takes time, creates dust, and can be expensive. And, depending on the state of the home, you may not be able to move in and live there comfortably until some of the remodeling is complete. Maintaining two house payments isn’t financially feasible for everyone.

Finally, although you may have an estimate remodeling budget, sometimes the biggest risks of a remodel are the hidden issues you’re not aware of until work is already underway.

Future Home Realty Can Help You Find the Right Home

Whether you’re considering buying a fixer-upper, need a move-in ready home, or want something that just needs a little TLC, Jason Duraj and his team can help you. We know the communities throughout Tampa Bay and will diligently work to find you a home that you love. Call us today for your free consultation: (813) 992-7771.