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  • Writer's picturekellyzrealtor

Why Buying a Fixer-Upper Might be Your Best Move

If you’re thinking of buying a home this summer, you should think about going for a home that’s a touch less polished and turn-key and might be affectionately termed a “fixer-upper”. 

Fixer-uppers come with a whole slew of advantages that might be your next best move in this real estate market. Here are a few things to consider when it comes to looking at fixer-uppers:

1. Less Competition: Buying a fixer-upper often means facing less competition in the market. The truth is that fewer buyers are interested in properties that need work. This can be a huge advantage that can save you tons of money and lead to seller concessions. Plus, you may avoid bidding wars and have a better chance of negotiating favorable terms. 

2. Completely Personalized: When you buy a fixer-upper, you don’t have to make do with builder-standard white cabinets or grey vinyl floors. Instead, you’ll be able to customize your space to your lifestyle! Transforming your home allows you to create a space that truly reflects your style and preferences

3. Equity Boost: One of the biggest advantages of buying a fixer-upper is the potential for an equity boost. By enhancing and upgrading your property, you're not just improving its looks; you're also increasing its market value, which grows your equity. As you invest in renovations, you're investing in your home's worth, leading to potential financial gains down the road.

4. Friendly Tax Bill: A lower purchase price for a fixer-upper can mean a cheaper tax bill too. Since property taxes are often based on the assessed value of your home, a lower purchase price can lead to a lower tax assessment. Just another financial benefit from buying a fixer-upper!

As you can see from this list, buying a fixer-upper has a range of benefits that make it an attractive option for many buyers. 

If you're ready to roll up your sleeves and turn a pretty good property into something amazing—your dream home!—a fixer-upper might be the perfect fit. Plus, you’ll get to take advantage of cost savings, customization, and increased value. 

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