When it comes to homebuying, there are all kinds of houses to choose from. Some are updated and do not require renovations, while others need some work done before they’re ready for new owners. So, when it comes to buying a move-in ready home, understanding the pros and cons can help you make the right decision for your personal needs.
Move-in ready homes, unsurprisingly, are houses that are ready to be moved in to right away. This is a great benefit for anyone who has a short time frame to move or would rather not have to wait for renovations or updates to be completed to move into their new home. With a move-in ready home, all you have to worry about it unpacking.
Buying a move-in ready home saves you from the stress of organizing and undergoing renovations. Being able to quickly move into your new home could save you lots of headaches you may have had if you needed to renovate.
A move-in ready home is updated and typically in good shape, not requiring any repairs or upgrades. However, fixer-uppers have a greater likelihood of producing surprise costs due to any unexpected repairs or expenses that arise. Move-in ready houses are typically good if you want to have a more accurate idea of what you’re spending.
All of that convenience and all of those updates come at a price. A fixer-upper will often cost less to buy and may even cost less overall once renovations are complete, so you will likely have to pay more for that easy, updated house. However, if you’re choosing a move-in ready home over a custom-build house, you’re more likely to save money this way.
Move-in ready homes are already designed and completed with features that may or may not speak to you. A possible drawback of buying a move-in ready home is not being able to personalize it and make it into the exact home of your dreams. One of the great things about buying a fixer-upper is that you can renovate it to have the features and characteristics you want.
With a move-in ready home, it may be the case that it will resemble nearby houses. If you want a home that is unique and one-of-a-kind, that could be harder to find in a newly updated home.
Because of their high appeal, move-in ready homes tend to fly off the market. If you aren’t looking to be rushed, this could be a potential drawback.
When it comes to buying a house, no matter what kind of home you choose, the mortgage process should be the least of your worries. That’s why we created a simple and seamless process to take care of your home financing. To learn more or speak to one of our experienced Loan Originators, contact us today.
Homestead Funding offers exceptional customer service and a convenient mortgage process. Whatever your financing needs, our goal is to exceed your expectations.