Have you ever lived through a major home renovation? If you have, you know it usually takes longer than expected and it can be a stressful experience. When starting your home search, it's important to sit down and discuss your “Must Haves” and budget. Even though a Fixer Upper may be daunting it’s normally the more affordable option but it’s very important to do an inspection and confirm the home has good bones. When buying a move in ready home, I recommend doing an inspection, to confirm the work was done properly and that you won’t have any surprises down the road. If you are paying more for a move in ready home it’s nice to know that it’s financially worth it.
Let’s see if a Move in Ready or a Fixer Upper is the right choice for you.
Make Your Mark
Fixer Upper: Make your dream home a reality. You choose the finishes, floors, counters tops and colours.
Move in Ready: All the design choices are already made.
Location, Location, Location
Fixer Upper: Picking the ugliest house in your ideal location is beneficial when you don’t want to break the bank.
Move in Ready: You might have to leave your desired location but new and shiny means less problems you would run into with an older home.
Fixer Upper: Expected and unexpected renovation cost can really add up.
Move in Ready: It might cost more up front but you won’t be surprised with a leaky roof or sinking foundation.
Fixer Upper: Will you live in the home during renovations? Renting while renovating can be an extra expense that you just can’t afford.
Move in Ready: Move right in and start enjoying your life in your new home.
Back Up Plan
Fixer Upper: Did you budget for the renovations? Life happens and sometimes financially you can’t finish what you started. Selling a partially renovated home is much harder.
Move in Ready: Much like buying a brand-new car, a brand-new home will have significantly lower maintenance costs for years to come. As older water heaters, roofs, etc. start to wear out in older homes, those costs can add up.
What would you prefer a Move In Ready or Fixer Upper?