Why You Should Buy a Fixer Upper as a First-Time Home Buyer
There are many pros to buying a fixer-upper as a first-time home buyer, and you may just not be aware of them. If you are moving to Salt Lake City as a first-time home buyer, let the Salt Lake City movers at All My Sons tell you why you should buy a fixer upper.
If you buy a fixer upper will save you money. Yes, you heard that right. Property taxes are based on the home’s sale price; therefore, your property taxes will be lower if you buy a fixer-upper. Your mortgage, insurance and down payment will also be less than on a turn-key home, however, you might end up paying near what you would for a new home by the time your renovation is over. What you think things are going to cost, is not what they’re going to cost- it usually ends up costing more. In order to really save money, you should do your homework before you buy.
Truly, the only way to make your renovation cost-effective is by you getting involved. While you should hire experts, you have to be prepared to roll up your sleeves a little bit if you want to save a lot of money. Consider renovating your fixer-upper as your education in becoming a homeowner. It will take a lot of trial and error, but you will come out on the other side a whole lot more educated than you ever thought you would be. You also get the bragging rights to all of the work you put into your new home!
Salt Lake City movers recommend that you buy a fixer-upper, to get into the neighborhood you want to be in. If you find that your dream neighborhood is too expensive, look for a house that you know has the potential to be great.
According to Salt Lake City movers, there are also fewer competitors when you’re looking at a house that needs a lot of work. Many buyers are unwilling or unable to put a lot of time and work into a house, so this is the perfect opportunity to snatch a bargain.
Since you are a first-time home buyer, you are probably young. One day, you’ll be old enough to retire and you won’t have much to do. Retirement is a time for hobbies, so why not start a hobby that you can continue doing for the many years to come?
Getting involved in a fixer-upper can even be an outlet for blowing off some steam. It can also let your create juices flow, or it can be something to wear you out at night. A fixer-upper is pretty much the next best thing before therapy.