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Move in Now or Fix It Up?

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Shows like HGTV’s “Fixer Upper” have made popular the idea of buying and renovating the worst house in the best block. Homes that need major remodeling are not for everyone. Sometimes a move-in ready house is a better option for you and your family. Whether you’re a first-time homebuyer or a seasoned investor, it’s important to understand the pros and cons of each.

Pros of Fixer-Uppers

Lower price — Homes that require some updating tend to be priced lower, and many renovations can quickly add value to your home.

Creative control — When you’re the one in charge of updating your home, you can customize it however you choose.

Cons of Fixer-Uppers

Delayed move-in — The planning and work involved to fix it up can significantly delay your move-in date.

Unexpected costs — Major renovations are always subject to unforeseen expenses, no matter how well you plan.

Pros of Move-In Ready

Quick move-in — Can’t wait? With a finished home, you can start moving in as soon as you get your keys.

Energy-efficient technology — New and renovated homes are often outfitted with the latest energy-efficient options when it comes to kitchen appliances and heating and cooling systems, which can save you money over time.

Cons of Move-In Ready

More expensive — Sellers often price move-in ready homes higher. These homes sometimes don’t allow for easy customization due to price and you live with what is there.

Questionable quality — When you are not doing the work, you can not  ensure that high-quality work and materials were used in the home.

Need help deciding? Here is an easy and  fun quiz to take to help you decide which way to go when buying a home.

(Image courtesy of nenetus at FreeDigitalPhotos.net)

Posted: June 15, 2016