Pros And Cons to Buying a Fixer-Upper
Owning a home is one of the best feelings one can get. It gives you a sense of accomplishment and confidence that can’t be achieved by renting. Even better, owning a home gives you the pride of ownership, and potential tax advantages.
Unfortunately, buying a home in Canada is not an easy feat. This is especially true if you’re on a tight budget. It’s no wonder a significant percentage of house shoppers opt for a fixer-upper than ready-to-move-in houses – it’s cheaper to buy.
But what exactly is the fixer-upper, and should you buy one? This article seeks to answer these questions by explaining what a fixer-upper is and outlining its benefits and drawbacks.
Feel free to jump ahead!
What’s a fixer-upper?
Pros and cons to buying a fixer-upper
Buying a home that needs renovations depends on your budget, preferences, lifestyle, and needs. It might be the right thing to do for one house shopper and a bad idea for another. Either way, you’re likely to enjoy or suffer some benefits and drawbacks.
Here are some fixer-upper’s pros and cons you should bear in mind
The bottom line
Whether young or old, buying a home can be a fulfilling thing to do. Some individuals turn to the lesser expensive fixer-upper when purchasing a house. And while there are many pros and cons to this homeownership method, you should consider your budget, needs, and preferences first.
Have any questions?
The home buying process can be confusing and stressful, but we’re here to help!
Contact us if you need any support throughout the home buying process, we’re a hands-on, full-service realty team for Carleton Place and West Ottawa areas. This checklist is a great foundation, but nothing can replace an experienced realtor.