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Fixer-Upper or a New Home: What to Purchase?

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By : Roby Hicks    99 or more times read
There are more decisions to make if you decide to purchase a home. Other than finding an agent and a lender, you need to decide on the type of property you want to get. There are several types of properties today. However, most homeowners are undecided in terms of purchasing a new property or a fixer-upper property. Some find it better to purchase a new property. However, there are also those who find it more convenient to purchase a fixer-upper home.

The decision relies on you and your circumstances. You have to consider several factors before you decide.

New Home

There are different benefits of purchasing a new home. First, you are certain about its quality. This is because you are the very first person to use the property and the items inside it. This is also a good start for everyone especially for newlyweds who want to start a family. New things can give fresh perspective about life.

If you plan to purchase a new home, you have to be certain that you can afford this because it tends to be expensive. You should also think about your plans like how long do you plan to stay in that house. If you plan to resell after a few years, then this is a good choice for you because new homes can appreciate more than the existing homes.

However, these homes have some disadvantages too. First, since it is new, the neighborhood is also new. This means that you do not have an idea of how the neighborhood will be like, unless you are one of the people who is last to purchase a house from that area. If you are not, then you might still be thinking of how your future neighbors will be like. This is a major concern because this could affect the security of your family.

Fixer-Upper Homes

There are also advantages of buying a fixer-upper home. First, it is inexpensive. This means that you can save a lot. This is great if you are on a tight budget. Next, you can personalize your property. This is because you can renovate and fix the property. You have to be cautious though. Most of these properties need a lot of work and you might not be able to move right away unless you make the essential repairs immediately.

You have to be concerned with the amount you will spend on repairs and renovations. This can be expensive especially if you have not checked the house before purchasing it. To avoid this, see to it that you inspect the property first together with a contractor. The contractor can help assess how much you need to spend on the property for the needed repairs.

Deciding on what to purchase is important. The first thing you need to consider is your budget. Your price range can be a constraint in purchasing a new home. Your plan is also a factor. If you intend to sell the house after a few years, then purchasing a new home is a great idea. A fixer-upper home is also a good investment. Just see to it that you check the house first so that you will know how much it would cost to fix the property.
You might find the right home for you from Over 55 Communities in Phoenix, AZ. Check out inexpensive Fixer Upper Homes in Phoenix, AZ as well. There are also New Houses in Phoenix, AZ.

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