To Remodel or Not To Remodel?
When it comes to buying a house, sometime buyers entertain the idea of buying a fixer-upper for several reasons. Some enjoy the transformation process, some want the house to be just they way they always wanted, and some do it because of financial considerations.
But if price were not a factor what would most buyers do? I was curious about the question and so asked my neighbors what they would do. Out of 65 respondents, 36% said they would prefer to buy a home and remodel it, while 63% said they would rather buy a home that is already remodeled.
Both remodeling and buy a remodeled house has its pros and cons. So when making the decision for yourself, consider the following and choose what works best for you.
The Pros of Remodeling Yourself
If you buy a house that you can remodel you can make the house your home. You can add all your personal touches and have it just the way you want it. You also would know what kind of workmanship went into remodeling the house.
A word of caution here though. If you intend to do the actual work yourself, ask yourself if this is something you can realistically take on?
And last but not least, make sure everyone is on the same page as to the remodel. One neighbor bought her and after they were moved in her husband revealed he had no desire to upgrade the home. It has remained the same since they bought it.
The Cons of Remodeling Yourself
Time – Remodeling a home takes time. A contractor may quote you a certain amount of time but chances are it will take longer, it always does. So prepare yourself for the remodel to take some time.
Discomfort – If you are living in the house, then prepare to live in less than ideal conditions during the entire time of the remodel.
Cost – If you have ever remodeled a house once you get started it seems never ending. You start patching a hole in one place and then realize there is much more to the hole than anticipated. You need to spend more money to fix it properly. That compounds the time the remodel will take and the amount of discomfort with which you will have to live.
The Pros of Buying a Remodeled House
Well that is easy! You just have to move in, all the work is done for you. One neighbor who bought a remodeled house noted “We have loved not having to do anything to it”. And just being able to move in sure is a plus, but all the glitters is not gold.
The Cons of Buying a Remodeled House
The same neighbor in the paragraph above who bought the remodeled house, pointed out that a small leak led to the revelation that there was a lot of shabby work beneath the surface. In the future she said she would buy a remodel just to be sure the work was done properly.
So if you are considering whether or not to buy a house and remodel it, these are some considerations that will hopefully help you make your decision.
If you have an experience to share, please share your story with us in the comments section of this post.
Happy Remodeling or Not!