Looking to buy a home but feeling like everything out there is out of reach? I get it – the current market can make the dream of owning a home seem distant. But here's the good news: homeownership might still be closer than you think, especially if you consider buying a fixer upper. Let’s explore why this option could be your golden ticket and how you can make it work for you.
What Exactly Is a Fixer Upper? A fixer upper is a home that’s perfectly livable but needs some attention. This could mean anything from minor cosmetic tweaks like replacing old carpet and taking down outdated wallpaper, to more significant repairs like updating electrical systems or fixing the roof.
Because these homes come with a bit of a to-do list, their price points are generally lower. In fact, a survey from StorageCafe shows that, on average, fixer uppers cost about 29% less than their move-in-ready counterparts. No wonder more and more buyers are considering this route right now!
Why Fixer Uppers Are Worth a Look If you’re looking for a way to break into the market and you’re up for rolling up your sleeves, a home with hidden potential could be your ideal solution. Here are some tips to guide you as you consider this option:
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Pick the Right Location: Remember, you can renovate a house, but you can’t change where it is. Make sure to choose a home in a neighborhood you love or in an area with rising property values and amenities. This ensures that any improvements you make will add even more value over time.
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Budget for the Unexpected: Renovations often come with surprise costs. Keep some cushion in your budget to handle those unexpected expenses that can pop up once the work begins.
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Get a Thorough Home Inspection: Always, always hire a professional inspector before buying. They can point out any hidden issues, so you know exactly what you’re walking into. This helps avoid big-ticket surprises down the road.
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Plan Your Priorities: Know what you need versus what you’d like. Divide your project list into essentials (like structural repairs), nice-to-haves (like upgraded kitchen counters), and dream features (that spa bathroom you’ve always wanted). This will keep you on track financially and help you make smart decisions.
A Personalized Path to Your Dream Home The perfect home isn’t the one that starts perfect – it’s the one you mold and customize after moving in. Starting with a fixer upper allows you to personalize your living space while saving money on the initial purchase.
Why Work with a Real Estate Agent? Finding a home with the right potential isn’t always straightforward. That’s where a local real estate expert like me comes in. I know the Simi Valley market inside and out and can help you find homes where smart updates will add value. Together, we’ll look for a place that fits your budget and gives you room to create your perfect home.
Bottom Line In a market where affordability is a major concern, move-in-ready homes might seem out of reach. But if you’re open to putting in some effort, a fixer upper can be an opportunity to build your dream home piece by piece. Ready to explore this option? Call or text me at 805-285-3219, and let’s start your journey toward homeownership.
