You might be wondering why some people actually buy houses that are not move-in ready. These houses, called fixer-uppers, are often advertised as “selling my home as is.”
Companies such as Homestead Road buy properties in their current condition, fix them, and sell. You can do the same. The question is, should you? The following situations will help you determine if a fixer-upper is for you.
If You Love Working on Projects
If you’re a certified DIY-er who has done home renovations in the past, a home being sold in as-is condition may be the right investment for you. Nothing is more satisfying than seeing the finished product of all your hard work. Best of all, every personal effort you put in improving the property is a non-financial investment that will actually increase the market value of your property.
If You Prefer a Customized Space
A fixer upper is the perfect opportunity to carry out your customization plans. As you’re practically working on a tear down, it doesn’t feel excessive to remodel or redo the entire interior of the house, as opposed to moving into a home with fresh improvements that you paid a premium for. When you have the freedom to customize, you see yourself putting money on the design and layout you like, something that works for you and something you can truly enjoy.
If It’s In the Neighborhood You Like
If the property happens to be in a good neighborhood where real estate is priced higher than usual, securing an as-is property in this location would be a wise investment. It’s a practical and inexpensive way to live in a prime location, with the perfect opportunity to build and design the home the way you like without having to start from scratch.
There are many other unexpected and unrealized benefits of buying fixer uppers. Apart from getting a property at a relatively low price, you have the opportunity to create a home that you truly enjoy and love coming home to.