Fixer Uppers – not just for Flipping
Friday Feb 05th, 2021
Trying to get into the Market? On the hunt for a new living space? Don’t shy away from purchasing a home that needs a little extra love❤️
Let’s talk Fixer Uppers and what’s so great about these bad boys 😉
To start, buying a fixer upper is more affordable. Think larger living space & great neighbourhood – for Less! A Fixer Upper can give you the opportunity to purchase a larger property with extra space while remaining within the price-point of a smaller home. That extra bedroom you need is not as far out of your reach as you may think. Investing in a fixer upper also means you may be able to get into your preferred neighbourhood. Being willing to explore properties that need a little extra love, expands your options more than you might think. It IS possible to stay within your budget, move into the neighbourhood you’ve been dreaming about, in a home that has more space than you were expecting, and is yours to personalize!
Make your Dream Home a Reality
The opportunity to customize your home according to your lifestyle and personal tastes is at the forefront of an investment in a fixer upper. This is more than just putting your furniture in a space that was pre-designed. I’m talking about your dream cabinets, surrounding the kitchen island with the storage that you need underneath. What about that extra bathroom you need for guests? Or the walk-in closet that would be Real Housewives approved (yes, please!)? Sounds great, doesn’t it? Investing in a home with more canvas space for you to paint on, will give you free reign when it comes to all things home design.
Less Competition from other Buyers
They can’t see the vision. That works to your advantage. Oftentimes there is less interest from other buyers in a home that needs a little more love. This is your moment! We all know that competition is what drives the cost of homes up at what can often be a rapid pace. This will make it increasingly difficult to get a good deal, unless you act fast or get lucky. The reduced interest from buyers in homes that fall under the fixer upper category, means YOU now have the opportunity to negotiate a more appealing price.
Your Vision, Done Right!
You’re in control. You’ve invested in the fixer upper and now comes the fun part, fixing it up! It’s your vision for your home that is being brought to life. Everything from the contractors assigned to do the work, to the materials they use, is within your control. Your direction is what brings your vision from dream to reality. Purchasing a home that does not require any additional work, means you haven’t given yourself the opportunity to make sure your home is personalized to your desire and that the work is done to your standards. The bottom line is that you’re taking full control of your home.
The Opportunity to Flip
Remember those buyers I mentioned earlier that don’t necessarily want to put the work into a fixer upper? Well, they’re exactly your demographic should there come a time when you want to sell. You’ve made the updates. You’ve put the love into the home, and they will want to take full advantage, which means that YOU will be on track to make a profit! It’s a win-win investment. Whether you have the goal of buying a home to flip it, or you’ve put the work in and are ready to move on, there is a chance to make some real money.