If you’ve ever been pressured into buying “move-in ready” or “fixer-upper” homes, then you know all too well how the two often differ. Move-in ready homes were built with buyers in mind and are ready to be occupied immediately. Fixer-upper homes, on the other hand, require extensive remodeling and renovation before they can be used and are often sold for a lower price than comparable move-in ready homes. Both options have their advantages and disadvantages, but for many of us, nothing beats a move-in-ready house.
Buying a Move-In Ready Home.
Buying a move-in ready home can be a smart way to simplify your move, but how do you find one? After all, not all homes are created equal regarding move-in ready status. A home’s move-in ready status is determined by the condition and inventory of the home, but the seller’s role in making the house move-in ready is equally important.
Trade-Offs of Move-In Ready Homes
If you’ve been renting and ready to move into your first home, you’ve heard the saying “move-in ready”: a home that has been completely remodeled and remodeled according to the buyer’s desired specifications. Unfortunately, not every home on the market is move-in ready, and if you’re not careful, you might end up with a home that is anything but that.
Buying a Fixer-Upper
Buying a fixer-upper can be a great way to save money on a home. A fixer-upper, also known as a distressed property, is a current place but needs repairs. For example, the home might have a broken furnace, outdated appliances, or cracks in the walls. Hence you may need to opt for services like Furnace Maintenance from Brooks Heating and Air (or any similar firm) and wall patching for your home. As they say, save time and money by buying a home that needs repairs.
Locating A Fixer-Upper
Sometimes buying a new home isn’t in the cards. Maybe you’re looking for a fixer-upper instead. But getting a house that needs a bit of work can be intimidating. Where do you start with so much to do and so many decisions? Fortunately, some resources can help you navigate both the buying and improvement processes. Take our quiz to find out which type of fixer-upper buyer you are.
Pros and Cons of Buying a Fixer Upper
Buying fixer-uppers is not for the meek at heart. Many first-time home buyers are intimidated by the idea of buying homes that need some work. However, fixer-uppers offer a unique buying experience and some incredible savings for those willing to put in the work. At the same time, fixer-uppers require more work than new construction and the cost savings more than makeup for the work involved. Here are a few pros and cons when shopping for a fixer-upper.
Pros and Cons of Move-In Ready Homes
If moving homes is a decision you have made, then chances are you are excited to get started. But before you sign on the dotted line, there are a few things you should keep in mind. The first thing is to consider if the construction phase will last the expected time. If construction takes longer than expected, it may make sense to hold off and rent or purchase a move-in-ready home. A move-in-ready home is still under construction, but the company completing construction guarantees the completion date, so you don’t have to worry about any delays. Another benefit is that move-in-ready homes are already furnished, so all you have to do is move in.
Be Prepared to Negotiate
Negotiating is a key part of the real estate transaction. As a buyer, it’s useful to know how to negotiate. As a seller, knowing what you want and what’s reasonable to expect is useful. Negotiation can be challenging, but it’s necessary, and it’s completely possible to negotiate hard bargains without driving yourself crazy.
A Note on Commission
The commission is when the seller pays you a percentage (usually) of the sale price for selling a product. For example, if you sell something for $2,000 and get a 10 percent commission, you get $200. The commission is extremely common with car insurance, where you usually receive a commission of either a percent or a dollar amount. Car insurance companies pay a commission (usually a percentage) to agents who sell a car policy. For example, a car insurance commission might be 5 percent of the liability and collision premium.
As home prices continue to rise, the selling point of ready-to-move-in homes becomes more important than ever. According to the National Association of Home Builders, first time homebuyers were the largest segment of buyers last year, accounting for 36% of the homes sold. First time home buyers look for three things in a home; location, location, and location. The advantage of building a new home is that you can begin customizing the house. There’s nothing like walking into a house and knowing it’s exactly what you want and needs.