Spring has sprung, which means the housing market is in full bloom. Each year, roughly 40 percent of real estate transactions occur between the months of May and August. If you’re feeling inspired to buy or sell a home soon, make sure you’re prepared. Use these checklists to catch anything you may have missed.
When You’re Ready to Buy a Home
Purchasing a house is one of the biggest transactions you’ll ever make. Whether it’s your first time or the fifth, tackle the following prep work:
Shows like HGTV’s “Fixer Upper” have popularized the idea of buying and renovating the worst house on the best block. Homes that need major remodeling, however, aren’t for everyone. Sometimes a move-in ready house is a better option. Whether you’re a first-time homebuyer or a seasoned investor, it’s important to understand the pros and cons of each.
Pros of Fixer-Uppers
Lower price — Homes that require some updating tend to be priced lower, and many renovations can quickly add value to your home.
Creative control — When you’re the one in charge of updating your home, you can customize it however you choose.
Cons of Fixer-Uppers
Delayed move-in — The planning and work involved to fix it up can significantly delay your move-in date.
Unexpected costs — No matter how well you plan, major renovations are always subject to unforeseen expenses.
Pros of Move-In Ready
Quick move-in — Can’t wait to begin nesting? With a finished home, you can start moving in as soon as you get your keys.
Energy-efficient technology — New and renovated homes are often outfitted with the latest energy-efficient options when it comes to kitchen appliances and heating and cooling systems, which can save you money over time.
Cons of Move-In Ready
More expensive — To recoup the costs of updating, sellers often price move-in ready homes much higher. These homes also don’t allow for easy customization.
Questionable quality — When you’re not there to oversee the update process, you’re unable to ensure that high-quality work and materials are used for your home.
Still not sure which approach is right for you? Take this quiz to help you decide if you’re ready for a fixer upper.
Have you bought a fixer-upper? What was the process like? Share in the comments!
Are you dying to live in a haunted house? Or would sharing a home with things that go bump in the night be a nightmare on elm street? Check out this inforgraphic from realator.com and see how other people weigh in about haunted real estate.