Can't Decide Between a Fixer and Turnkey?

You are in the market for a home but not sure whether to buy a fixer-upper or a move-in-ready home. Don’t worry, this is one of the most common questions buyers have and you’ve come to the right place for the answer.

There are pros and cons to both types of purchases. Fixer-uppers are generally less expensive than fully remodeled homes. Short sales and foreclosures tend to fall in this category. The current owners of these types of homes may have run into hard times and do not have the money to pay their mortgage let alone the costs of maintaining and updating their home. If you are looking for a bargain, fixers are not a bad way to go. This is especially true if you have the resources to take on a remodeling project. For a buyer that has a family to raise or a job that demands long hours, I would recommend staying away from fixer-uppers. If you are someone who has the know-how, time, and money to do the construction, I would certainly recommend a fixer. There is huge potential for value add and more importantly, it gives you the freedom to design and rebuild the home to your taste. I’ve seen dozens of “remodeled” properties where the owner spent lots of money remodeling only to find that his taste was not that of today’s savvy shopper.

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