Home Purchasing – 2 categories you must be aware of

When you finally make that all important decision to purchase a home, there are two main categories of homes that you must be aware of. The first is a move-in ready house while the second is a fixer-upper house. The choice between which of these to go for is usually down to the buyers preference, budget, comfortability or goals

We take a look at these 2 categories as well as some of their pros and cons to help you improve your home purchasing decision making.

A fixer-upper house

A fixer-upper house is a house that will require some level of renovation or repairs before you can comfortably live in it. Some will first require work before moving in whereas others can be worked on while you are living inside them. The choice is mostly the buyer’s. Generally, some home owners prefer this category of houses because they will come at a low price owing to the fact that they need repairs, or the house gives them an easy opportunity to remodel and give it their own preferred look and feel. On the downside, this type of house requires an extensive level of due diligence especially with regards to inspection so as to ensure that as a buyer, you will actually be able to afford the repairs. Otherwise, it may turn out to be a very expensive undertaking.

A move-in ready house

A move-in ready house is just as the name suggests, a house that is ready to be moved into and will not require any work on it. This type of house offers a lot of convenience because there is no time consumed in repairs, you can move in immediately and resume your daily routine and most importantly, the home purchasing process is much easier. The few downsides to these types of homes is that they are usually pricey, and will still cost the buyer a fortune in the event they want to do some modifications.

If you are looking to buy a home, it is therefore important to do your homework and figure out which options work best for you. Home ownership is mostly a journey that requires patience and clear headed thinking therefore it should not be rushed.

We would like to hear your home ownership story especially if you have had the opportunity to compare these two options. Your experiences will tremendously help other owners make more informed home purchasing decisions.

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