Are you interested in buying a fixer-upper home? There are many advantages and disadvantages to buying a fixer-upper. They can be very time-consuming but also could be a great investment at the same time. Let’s talk about the pros and cons of buying a fixer-upper home.
Pros and Cons of Purchasing a Fixer-Upper in the Triangle:
Lower Purchase Price: Generally speaking, these homes sell for less because of the work and money required to fix them. Also, there is less competition for them so it’s fairly easy to get the fixer-upper home.
Customization: You have the freedom to customize this home to anything you may want. The home is most likely going to need some re-modeling and it’s free reign from there, you can pick any color or material you want. Also, say you don’t like the bathroom you can redo it!
Expensive Renovations: Renovations can be very expensive and time-consuming. Also, the more time it takes to fix the home the more time it’s off the market to sell and get your money back and hopefully make a profit off the home. If buying a fixer-upper for self-use, the more time you can’t move in and have to find housing elsewhere.
Unexpected Issues: These homes are usually older and potentially have a lot of issues. When you get an inspection, you will probably come across more problems you didn’t initially expect. It’s always important to budget for these unexpected issues.
If you are interested in investing in a fixer-upper property, here at Raleigh Cary Realty we can help find you the perfect fixer-upper! Contact us today: https://www.raleighcaryrealty.com/contactus/
