Should I Renovate or Buy New?

Buying real estate in Anacortes or in any other part of the country for that matter can sometimes be confusing. This is especially true when it comes to those who are considering purchasing a fixer-upper to renovate. There are many considerations that should be taken into account prior to making this type of purchase. In some instances, it is simply better to buy a newer home that will require minimal work and upkeep. The good news is that many homes requiring renovation are incredibly charming and will have huge up-side potential.

Physical Structure

Those considering a large home renovation project should know that the kitchen, bathroom and other major portions of the structure could need to be completely replaced. Even full electrical systems such as the wiring may need to be totally reworked. One of the first considerations to think about before purchasing a renovation project type house is that of the underlying physical structure. If the foundation of a home or its framing has been compromised or seriously damaged, it may be better to avoid this type of house altogether. This is particularly true if there has been serious water damage.

Deeply Discounted

Homes that have extensive water damage can be very expensive to repair. The only way that this type of home could be considered a good buy is if it has been deeply discounted. Budget should be a major consideration when purchasing a renovation project. Know in advance what you can afford before undertaking this type of challenge. It is also important to remember that renovation costs can run away and easily exceed one's budget in short order. This is another case where investing in a newer and more structurally sound home is a better option.

Open Floor Plan

Finally, when purchasing real estate in Anacortes that requires remodeling or renovation it is important to consider your own personal lifestyle. Many older homes may not be appealing to today's modern highly active lifestyle. Lack of space, or a home that is devoid of a garage may simply not work. In addition, many older homes are missing the popular open floor plan so common today. As an added note, an older home requires sufficient financial resources and a lot of time and effort. Consider these simple tips when determining whether to renovate or to buy new. Contact RealEstateInAnacortes.com today for the latest in Anacortes homes for sale that feature incredible character and style.

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