Should You Buy a Fixer-Upper or a Move-In-Ready Home?

Should You Buy a Fixer-Upper or a Move-In-Ready Home?

Fixer-uppers are NOT for the faint of heart!

Before pouring your hard-earned cash into a fixer-upper, ask yourself:  

- Do you have the patience of a saint? Labor shortages and supply chain issues are causing even minor home repairs to drag on and on. Patience, flexibility, and time to wait best be your best friends. 

- Do you have the time and capacity? Taking on a fixer-upper is incredibly exciting, but it can also be all-consuming. Ask those who know you best their thoughts about your potential new project.

- Is the price right? All that fixing is gonna take cash. Talk with your realtor and a trusted lender to set right expectations about what you can afford.

- Where will you live during renovations? With a move-in ready, you just, well, move in. A fixer-upper, not so much. To make it work, you’ll need a place to crash or fork out for a rental.

- Is your partner on board? Fixing up a home tests every relationship to its core. If you and your partner aren’t on the same page, something move-in ready will be most harmonious for the home front.  

Have thoughts of buying a fixer-upper? Want to know our best “been there, done that” tip for buyers? Let's talk!


No comments

Post Your Comment:

Your email will not be published
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are member’s of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.