Buying your first home can be a stressful process. The decisions you make during this time are crucial and can affect you for years. But it can be hard to tell which choice is the right decision.
One of the questions you may need to ask yourself is, Should I buy a move-in ready home, or a fixer-upper? It’s a good question, and there’s no one-size-fits-all answer. Your budget and time will likely come into play with this decision. You will need to decide if it is worth spending more money now or fixing your home up sometime down the road.
There are benefits to both options. Below, we’ve discussed the advantages of each.
Why Should I Buy a Fixer-Upper?
If you are looking at buying your first home, a fixer-upper may seem like a good choice. These properties usually cost less than move-in ready homes, and you can add your own personal touches. This may be a good option for you if:
- You are a DIY type of person who loves having projects to work on.
- You are looking to save as much as possible on your first home.
- You want to design the home exactly how you want.
Just keep in mind that if you can’t do certain things yourself, you may need to hire someone to help. Also, unexpected expenses may come up. You should be prepared mentally and financially for these situations.
Why Is Move-in Ready the Best Option for Me?
Move-in ready is an excellent option for first-time home buyers. These homes typically cost more, but you won’t need to make any drastic changes to the house. Some advantages of buying a move-in ready home are:
- New homes will have all modern features, including appliances, cable and internet wiring, and security systems.
- There is no need to paint or re-carpet.
- Move-in ready homes make it easier to qualify for a mortgage.
The most significant drawback of buying a move-in ready home will be the price. A house in move-in ready condition will have everything you need. However, the seller will consider this and may charge more for the home.
Apply for a Mortgage
Mortgage Solutions Financial is here to help you every step of the way with the homebuying process. Whether you’re interested in buying a move-in ready home or a fixer upper, we will be happy to answer any questions you may have. We will do everything we can to make the process as easy as possible for you, so you can enjoy the experience of looking for your new home. Call today to get in touch or begin the application process.