Purchasing and remodeling a fixer-upper home is almost comparable to childbirth. For instance, you go through all of the pain and screaming at people to essentially put you out of your misery, but after a while, the big reveal happens and the pain seems to suddenly disappear.
Here are five great reasons as to why you should consider purchasing a fixer-upper home.
You Will Save Money
Purchasing this type of home can actually save you some money in the long run, as your down payment, insurance, and mortgage will all be much lower. However, it’s important to remember that during your renovation, you may still end up paying the same amount of money that you would for a new home anyway. Regardless, always bring at least a couple of professionals along with you whenever it comes to bidding on what they would charge you to perform certain tasks in the home itself. This will allow you to compare before making a final decision in terms of how much money you will end up spending.
Earn New Skills While Learning
Think of becoming a new homeowner as a form of education, especially when it comes to fixer-uppers. When you take the time to replace things, which you’ll obviously spend a lot of time doing, chances are you’ll mess a few things up here and there, but you’ll also learn at the same time. Because of this, you’ll gain a lot of new skills, which you can then use towards another project down the road.
While you may be young right now, you’ll obviously end up retiring one day and you won’t have anything to do unless you’ve got some money saved up. Why not finally start working on the fixer-upper you bought a long time ago? Of course you won’t want to do that! When you begin working on it now, you’ll be able to enjoy your retirement later on.
It’s Not as Expensive as Therapy
It’s no secret that everyone needs some way to blow off some steam every once in a while, and a fixer-upper home is the best way to do it. And the best thing is that it’s not nearly as expensive as spending all that money on a decent therapist!
You Can Impress Your Friends and Family
Buying and remodeling a fixer-upper is a great way to prove to those friends and family members who may have told you that you would never be able to do something like that that you actually can. Regardless of the work you do on it, there’s nothing like being able to show off things that you’ve actually been able to accomplish and have people be proud of you for it.
Thank you for visiting Wayne Murray’s blog, your local Houston area real estate expert. If you are looking to purchase a fixer-upper in the Houston area, give us a call!