Sometimes, I'll look at a house with clients and we'll notice that the place is looking tired. It's not always a bad thing. I can ask for a discount to compensate for the cost of necessary upgrades, and then the buyers can update the house exactly the way they want.
If you're handy or have handy friends that like to help with projects, a perfect home may not be one that's fully upgraded, mint condition, ready to move in to. You'll be paying a premium for another family's favourite colours and styles. Why not look for a fixer-upper or a house that's been a bit neglected.
A tired house isn't the same as a fixer-upper. It might just be paint and wallpaper that make it look old, or kitchen cupboards that need some attention. Maybe you'll want to tear out some carpeting. Flooring isn't so bad to do before you move in, and you can go to town with paint too. Often it's the bathroom that's in need of renovation. Kitchens and bathrooms are notoriously expensive to renovate, but if you're handy, you can save a lot of money. And, if you get a good enough discount, you can spend it all on creating your dream kitchen, or a luxurious bathroom retreat.
A fixer-upper can be a perfect opportunity. If you can get a good deal on a bad house in a great location, you might be able to gut the house or tear it down and build your dream home. It takes a lot of planning in terms of cash flow and could mean two moves instead of one. You'll have to have a good sense of how much the tear-down and the construction is going to cost, and maybe the costs of a rental (or living with your mom) while you're building.
Think of all the possibilities. There are so many things to consider when you're buying a house. Make sure you have a professional Realtor on your side and don't be shy to share your dreams with your Realtor. The best Realtors always ask a ton of questions to get to know you and to find out what your dreams are. They can help make them come true!
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