When it comes to buying real estate in Edmonton, many homebuyers are drawn to new or recently renovated homes. However, there are several reasons why you might want to consider a “fixer-upper” instead. Firstly, a fixer-upper is typically priced lower than a move-in ready home. This means that you can often get more square footage and a larger lot for your money. Additionally, if you’re willing to put in some sweat equity, you can potentially increase the value of your home over time.
Another advantage of buying a home that requires renovations is the opportunity to customize the space to your liking. With a move-in ready home, you’re limited to the existing layout, finishes, and features. When renovating, you have the freedom to turn something with “good bones’ or the “perfect ” location, into your dream home – whether that means knocking down walls, installing new appliances, or adding a deck or patio.
Of course, buying a fixer-upper does come with some challenges. You’ll need to have a solid understanding of your budget and the costs associated with renovations, as well as a clear idea of what you’re looking for in a home. You’ll also need to be prepared to handle the logistics of the renovation process, including obtaining permits, hiring contractors, and managing timelines.
However, for those who are up for the challenge, a fixer-upper can be a great investment. By putting in the work to renovate and customize your home, you can create a space that truly feels like your own, while potentially increasing its value over time. So if you’re in the market for a home in Edmonton, don’t overlook the potential of a fixer-upper!
Tags: fixer upper renovation