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If you’re in the process of buying a new house then you may be wondering which type of home is best for you to purchase. Sure, you can buy a brand new home that you can put your own personal stamp on but it won’t have the character of an older building. If you like to feel the personality of a home then you may be better off buying a home with a bit of history.
Fixer-uppers may have crossed your mind during your house hunt. A fixer-upper is a home that hasn’t had much love in the recent past and you can get your hands on these for less money than a new house. It’s worth taking a look to see if this is something into which you can put your time, money and energy.
Affordability
One of the most appealing perks of owning a fixer-upper is that they’re usually a lot cheaper than other homes in the same neighbourhood. This is simply due to the amount of work that may need to be carried out before they become liveable again. If, for example, a new home is going to cost you £400,000, a fixer-upper in the same area could cost you half of that amount. They can be picked up at house auctions pretty regularly.
Just remember, you’ll be going in blind a lot of the time with a fixer-upper as a lot of them can’t be viewed beforehand. A fixer-upper may also be classed as a home that has been repossessed, so you could get a pretty good bargain if you look around.
Potential
A fixer-upper has so much potential to become the house you’ve always wanted. If you like the idea of a blank canvas that you can do anything to, then a fixer-upper is definitely for you. When you first look around the home you’ve just purchased you may have a brief idea of what you want particular rooms to look like. When you do a walk through, make notes of the type of layout and decoration you want and what the rooms will become.
You may want to make a note of everything that needs fixing in your new fixer-upper as well. This will give you a rough idea of the costs you’re looking at for repairs. One thing that fixer-uppers can have problems with is the drainage system. If you need to repair or replace this, then take a look at your local pump suppliers.
No other interest
Another great perk of buying a fixer-upper is that you won’t necessarily have ten or twenty other people fighting for the same property. The housing marking can be a crazy place at times and with people all wanting the same house, it can become frustrating. A high percentage of new home buyers will want a house that is ready to move into. This is due to busy lifestyles and not wanting to do much DIY before they can relax and enjoy their new place.
We hope you found this post helpful and that it gave you lots of inspiration as to why a fixer-upper isn’t the most terrible idea in the world. If you have the time to dedicate to this, then it’s definitely worth watching your new house become a home.
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