Move in Ready vs. Fixer-Upper, How to Decide Before You Buy

Filed in What's Hot? by on October 10, 2017

If you’re a fan of reality TV, you’ve probably watched at least one happy homeowner purchase a troubling fixer-upper and transform it into a dream home. While there are plenty of happy endings for those who buy older Jupiter homes that need extensive renovations, in some cases, opting for a move-in ready home makes more sense. Whether you opt for a new or recently renovated house or a home that needs some work, you can end up with the perfect home for you, with a little thought and planning. Here are some of the benefits and challenges you may face with each option.

Purchasing a Fixer-Upper

Along with unique charm, most fixer-uppers also offer a lower price. What you don’t invest in the actual purchase of the home, you may have to shell out in time and renovation costs, however. This doesn’t mean that you should give up on the idea of a fixer-upper though. There may be some additional pros and cons that you might not have considered.

Fixer-Upper Benefits

  • Easier Negotiation: More work generally means fewer buyers competing for the property. That makes it easier for you to get a great deal.
  • A Lower Tax Bill: Since property taxes are based on the sale price of the home, you’ll probably end up with a tax savings on your fixer-upper. You might also end up with some tax benefits based on your renovation choices. For example, if you opt for environmentally friendly solutions like solar panels.
  • Ultimate Personalization: With a true fixer-upper, you can start from scratch. That means you’ll end up with complete creative control. Many homeowners take great pride in taking on a major home-improvement role.

Fixer-Upper Challenges

  • The Wait: When you choose a fixer-upper, you can’t just pack your boxes and move in once you’ve closed on your home. The remodeling process can take months (or even longer).
  • The Work: Of course, that fixer-upper will require more work than a move-in ready home, but not everyone realizes just how much. You may end up working with multiple contractors to get the job done.
  • Unexpected Complications: Older homes have their quirks, and unfortunately surprises can equal higher costs.

Purchasing a Move-In Ready Home

Move-in ready homes are a great choice for those who want to just pack up their belongings and get into their new place. Even if you didn’t have a hand in the building process, there are still ways that you can make a move-in ready home unique. Here are some of the pros and cons of choosing this option.

Move-In Ready Home Benefits

  • Fast, Simple Financing: Even with great credit, it can be easier to get financing for a newer home that requires less work before moving in.
  • All the Latest Gadgets: The newer the home, the more likely they’ll be to incorporate the newest innovations in technology and design.
  • Energy Efficiency: Great advances in energy-efficiency and green design have been made in the past several years. New homes offer a level of energy-efficiency, right off the bat, that will save you money and keep you more comfortable.

Move-In Ready Home Challenges

  • The Expense: The money saved on remodeling with a new home might be built into the price of a move-in ready home.
  • A Generic Feel: No matter how much you personalized a move-in ready home, you likely won’t get to pick and choose the number of features you want in the way you would with a fixer-upper.
  • Landscaping Challenges: There are restrictions faced by those who purchase move-in ready homes in some newer communities. This can make unique landscaping and even adding helpful features like fencing a challenge. Of course, this isn’t the case in all newer communities, and many Jupiter Farms properties have few restrictions, but it’s important to consider this challenge when you determine where you’ll look for your move-in ready home.

Making the Right Choice

Fortunately, if you are in the market for a Jupiter property, you have quite a few options. Palm Beach County and the Treasure Coast offers a level of diversity in the housing market that few communities can top. From Old-Florida architecture to luxury golf course homes, you’ll find a little bit of everything in South Florida.

Jupiter Farms offers few restrictions and plenty of wide open space. This community even has equestrian communities designed especially for horse owners. Beachfront properties range from compact condos to sprawling estates.

 

 

 

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