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Fixer Upper vs. Move-In Ready: Which One Is Right For You?
When it comes to buying real estate, you want to make sure the property you purchase is the right fit for your needs. For some buyers, purchasing a home that needs some work is the ideal situation. For others, getting a turnkey home that’s move-in ready is the only option they’ll consider. And for still others, both seem like reasonable options.
The question is: which is for you? There are pros and cons to both fixer uppers and move-in ready homes. The important thing is to recognize which is the best fit for you, your budget, and what you want out of a home.
Let’s take a look at the pros and cons of fixer uppers and move-in ready homes to help you determine which is the better fit for you:
Fixer uppers
Fixer uppers are, as the name implies, homes that need a bit of TLC – or fixing up – upon move in.
Pros
Discounted price
The major draw of fixer uppers is the price. Since they need work, you can typically get a fixer upper at a fraction of the cost of a move-in ready home of a similar size or in a similar location. So if you’re on the hunt for a bargain or you have a tight budget, a fixer upper is definitely going to be the least expensive home-buying option.
You can make the house your own
Since a fixer upper will need work and renovations, it does offer the opportunity to put your own stamp on the design and layout and really make the house your own. With a move-in ready home, the work has already been done and the home already designed. With a fixer upper, you get the opportunity to build your home from the ground up with everything from flooring and cabinetry to landscaping and windows.
It’s a project
For people who are interested in home renovation, there’s nothing better than a fixer upper. Taking on the challenge of completely transforming a home is a really exciting prospect for a lot of people, and if you’re in that camp, a fixer upper is a great opportunity to take on a worthwhile project.
Cons
It can get expensive
Even though the purchase price of a fixer upper is typically low, if there is a significant amount of problems with the property or changes that need to be made, it can definitely get expensive. Things like repairing electric, adding a new roof, tearing up and installing new flooring, and redoing a kitchen can get pricey, and if you’re not careful, you can find yourself way over budget, swimming in contractor bills with no end to your renovations in sight.
It takes time
Even if you’re a person who loves renovating homes, there’s no escaping the fact that it takes time. If you need to move into your home quickly, a fixer upper isn’t going to be the right fit.
Move-in ready
Move-in ready homes are recently built, updated, or remodeled homes that need next to nothing in terms of renovations or improvements. You can comfortably move in without making a single change.
Pros
It’s convenient
In terms of convenience, you can’t beat a move-in ready home. Moving can be a stressful process, and for many new homeowners, the last thing they want to do upon moving into their new home is start managing a bunch of renovations. With a move-in ready home, once you move in, you’re done. While you may want to make some cosmetic changes down the road (like painting the walls or changing the flooring), there’s nothing that needs to get done after you move.
Better energy efficiency
Newer, move-in ready homes tend to be more energy efficient, which is not only better for the environment, but also better for your utility costs. Energy efficient homes require less energy to heat the home during the winter and cool the home during the summer, which can end up saving you a significant amount of money in the long run.
Cons
Home prices are higher
When you buy a move-in ready home, you’re paying for the convenience. Move-in ready homes will always be significantly more expensive than fixer uppers in the same neighborhood and of the same size. If you have a tight budget, you might have to make some sacrifices to purchases a move-in ready home, like buying a smaller house or buying in a less popular neighborhood.
The “cookie cutter” effect
When you buy a move-in ready home, everything has already been done for you. Which is certainly convenient, but it can lack originality, charm, and the architectural and decor details you might want in a home. Newer homes sometimes feel more generic and “cookie cutter” than their older counterparts, so if charm and individuality are important for you, a move-in ready home might not feel like the best fit.
Fixer uppers and move-in ready homes both have unique benefits and challenges. Ultimately, you have to go with the choice that best aligns with your budget, your needs, and your long-term goals for your home.
2020 Homeowner Wish List
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What’s something you would change?
Boost Your Home Value for Less Than $300
Have you ever noticed how the decision to sell your home inspires grand ideas for major renovations? Suddenly, you can’t see past all the things you think buyers will hate about your home.
We’re here to set the record straight: You don’t have to spend thousands of dollars or weeks of toil and sweat to make a home sale worth your while. With staging—and the help of a high-octane real estate agent you can increase your home’s value without a huge investment.
Does it work? According to the National Association of Realtors, most agents say buyers will pay 1–5% more for a home that’s been staged. That’s a potential $2,000–10,000 added to the value of a $200,000 home!
Want to add a few thousand bucks to your home value? Give these options a whirl. Each of the following scenarios cost less than $300 and can be tackled in just a matter of days.
If you are looking for how to sell a house for more money, you’ve come to the right place!
Option 1: Add Home Value by Neutralizing the Interior
Bob and Judy don’t have to worry about an outdated home. Judy’s a big HGTV fan and regularly works new design trends into her décor. But over the years, her decorating fervor has inspired a different paint color for every room, leaving their open floor plan feeling disjointed.
All they need is a fresh coat of neutral paint to increase the home value and make their home feel light and airy. Bob and Judy don’t have a huge budget, so they decide to tackle the job themselves. They focus on the main living areas and find a bargain on paint and supplies at their local Habitat for Humanity ReStore.
Option 2: Reclaim Family Spaces
Jim and Karen have three kids under six and have gotten used to their home feeling like a war zone. Baby equipment has taken over their living area, and their dining room serves as extra toy storage. If they want to sell their home, they need to make some changes.
After clearing out the clutter, they cozy up the living room by focusing furniture around the fireplace instead of the TV. New lamps light up dark corners, while fresh flowers, new curtains and throw pillows add an extra punch of color.
Karen tops things off by breaking out her best dishes and linens and using them to dress up the dining table.
Option 3: Transform the Master Suite
Laurel is an empty nester who’s looking to downsize now that her kids are off to college. After years of juggling family and career, she realizes she never took time to create her own space to unwind at the end of the day. She gets to work transforming her master suite into a relaxing retreat.
Laurel’s first order of business is minimization. She organizes her linen closet and packs up off-season clothes and shoes. Her treadmill finds a temporary home in her sister’s basement.
Laurel scours local and online outlet stores for everything she needs to prep her home and increase its value. Fluffy white towels inspire a spa-like feel in the bathroom, and a crisp white comforter set creates a fresh focal point in the bedroom. She completes the look with decorative pillows and a set of matching lamps for her nightstands.
Option 4: Pump Up Curb Appeal
Rob is relocating to another state for his job. His real estate agent recommends dressing up the exterior of his ranch-style home.
Rob starts by washing off the layers of grime that have accumulated over the years. Then he paints his front door red and adds decorative house numbers to give his drab entryway a much-needed facelift. Instead of springing for brand-new porch light fixtures, he rejuvenates his existing ones with a specialty spray paint. A cheery welcome mat and brightly colored flowers might not be Rob’s style, but he knows buyers will love the inviting dose of color on his front porch.
Before the For Sale sign goes up, he mows the lawn, trims all the hedges, and tidies up flower beds with a fresh layer of mulch.
What’s Your Plan to Add More Home Value?
Of course, every home is different. We’ve made some assumptions in these examples. But hopefully you found some inspiration to get you started! You can mix and match ideas you see here or come up with a few of your own.
Just be sure to consult your real estate agent first. A good agent knows what homebuyers in your area are looking for and can point you toward improvements that get the most bang for your hard-earned bucks. Need help finding a qualified agent in your area who can help you sell your home? Contact us today!
7 Reasons Why You Should Have An Outdoor Kitchen
Outdoor Kitchens
In the Mediterranean, it is very common to see families cooking outdoors. Today, this style of outdoor cooking has become a popular trend in the United States. Homeowners are learning about the joys of using an outdoor kitchen in their own backyards. Have you considered the benefits of adding a patio kitchen to your home? Whether you’re building a new house, or simply making better use of the space you have, creating a place to cook outdoors could be a good investment to make. Here are seven advantages of outdoor kitchens to consider:
1. Good for Entertaining
A top benefit of having an outdoor kitchen is that they’re perfect spaces for entertaining. When food is grilled out on the patio, guests can gather around the BBQ grill and socialize as dinner is being prepared. It might get crowded in an indoor kitchen when everyone hangs out with the cook, but outside there’s much more space. You can increase the comfort for your party guests by adding patio heaters, outdoor furnishings, strings of lights, and some mood music.
2. Increases Value of Your Home
Because of the popularity of this home improvement, remodelers earn a high rate of return on their financial investment. Most of today’s BBQ grills and other patio appliances are made from stainless steel, which makes them able to handle the changing temperatures with the seasons. Stainless steel is also desirable because it is easy to clean. When you have a functional outdoor kitchen, you have an investment you can use and enjoy for many years to come.
3. Saves on Utility Bills
When you’re grilling outside during the summer, your air conditioner won’t have to work overtime to keep your house cool. When you bake, fry, roast, and broil foods in your inside-kitchen, the temperature in your house elevates several degrees, which kicks the AC into overdrive. When you cook outdoors, you will save on energy consumption.
4. Keeps Smells Outside
Some foods smell delicious while they’re cooking, while others are less desirable. When you cook especially odiferous foods such as fish or deep-fried items, those aromas can linger for days. When you prepare the same menu items outside, your house stays fresh smelling.
5. Expands Your Living Space
No need to add on a room with walls and a roof; simply incorporate the space you already have on your back porch. If you have a covered patio, you’re all set to bring in appliances and have the outdoor kitchen of your dreams. In your outdoor cooking area, you and your family members can celebrate birthdays, holidays, or just enjoy the great outdoors.
6. Improve the Taste of Healthier Food
Not only does grilling enhance the taste of food, this cooking technique is better for your waistline, as well. Because fat drips off of meats when they’re grilled, the end result will be healthier and contain few calories from fat.
7. Save Money on Restaurant Meals
When you have your own little patio cooking and dining area in your backyard, why would you want to go out to a restaurant to eat? Eating out at restaurants can drain your bank account pretty quickly, especially if you go out to eat on a regular basis. Every time you opt to dine at home rather than go out for a night on the town, you keep dollars in your wallet.
What You Need
Now that you have seven good reasons to add an outdoor kitchen to your home, you’ll need to make a few plans to get started. First, here’s a list of possibilities to think about including:
- BBQ grill
- Smoker
- Prep surface
- Refrigerator
- Storage space for food
- Pizza oven
- Bar
- Lighting
- Ceiling fan
- Table
- Heating
- Chairs
- Entertainment system
- Plants
- Firepit
Design Considerations
You’ll need to give some thought to the design of your outdoor kitchen. For example, ventilation is important, so pay attention to the space above and below your grill. You want the smoke to blow away from your cooking area. Make sure to sketch out the dimensions of your kitchen layout before buying your appliances and accessories. Some additions to contemplate when planning your design are:
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Built-in or Portable Grill:
Decide how large of a grill you need or want, and whether you want one that’s permanently positioned or mobile. If you plan to cook for large crowds, you’ll need a larger size, but if you’ll just cook for your family, invest in a smaller BBQ.
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Countertops:
How much preparation space will you need in your outdoor kitchen? Plan your countertop space accordingly. Also, make sure you select a product that can withstand changes in weather.
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Built-in Cabinets:
You might need some help designing the layout of your patio cabinets. Don’t underestimate the need for cupboards outdoors, or you will be running back and forth between your indoor and outdoor kitchen, which will put a crimp in the convenience factor.
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Lighting:
Since you will probably be doing much of your meal preparation during the evening hours, you’ll need to have adequate lighting on your patio. You definitely don’t want to be chopping and slicing in the dark. Plus, you need to be able to see your grilled items clearly to make sure they’re rare, medium, or well done.
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Sink:
Having a sink with running water is essential to convenient meal preparation. Install yours near your prep station for ease in clean up and adding liquid to recipes.
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Refrigerator:
You might decide to have a small fridge or a full-sized one. It all depends on how much you plan to store outdoors.
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Flooring:
Concrete, natural stone, brick, and tile are good options for outdoor flooring. You don’t want a high-maintenance product outside, but you do want it to be stylish and weather-resistant.
Grill Aids and Dining Accessories
You’ll need aids and accessories to complete your outdoor kitchen, including:
- Outdoor cups, plates, and utensils
- Tongs
- Serving spoons
- Knives
- Meat thermometer
- Serving dishes
- Griddle
- Outdoor ice machine
- Baskets for grilling vegetables and fish
- Shish-kabob skewers
Once you have your outdoor kitchen up and running, you’ll wonder how you ever managed without it. If you ever decide to sell your home and move to a new location, your outdoor cooking space will be a sought-after selling feature. Now that you’ve experienced creating this extra space in your abode, you’ll be able to set up a new one wherever you move.
The Realtors at Preferred Properties of Texas in Stephenville in Erath county in the Cross Timbers area of North Central Texas are here to help you buy and sell real estate for over 25 years!
Best Affordable Home Improvement Projects for Your Patio
These home improvement projects will make your patio the coolest feature of your home.
Nothing beats having a patio when the weather starts to warm up, and if you’re looking to put your house on the market, it’s a feature that might just tip the scales for a potential buyer. By taking necessary steps to maintain and improve this space, you’ll be giving your house that extra feature that might get you an offer over a similar house down the street.
Don’t Forget to Finish
Thoroughly clean your patio and seal the surface with a glossy protective coating that can handle the weather in your area. In addition to preventing damage, this will give your patio an attractive, finished look.
The last thing you want is for a buyer to ask for additional repairs as a contingency of the sale, especially when most wear and tear can be prevented by taking simple measures. This is a cheap and easy single-day project that can save you a big headache in the long run.
Work on the View
You probably don’t need to do a major landscaping overhaul to get your backyard into shape. Don’t underestimate the power of details that, at the very least, will make the area look like a great blank canvas, like pulling weeds, re-mulching areas, and getting plants manicured.
Add Some Décor
Subtle decorations can make the area seem like a much more livable space to potential buyers. A couple of hanging baskets and potted plants will make a patio more inviting without cluttering it. Put them in places that are out of the way, and make sure they’re not obstacles.
Aim for classic and comfortable with your patio furniture, and if you’re going to be showing off your patio to potential buyers, avoid plastic and/or mismatched furniture. Stick to a theme when you’re considering fixtures and decorations, with color, material, and style.
Light It Up
While you might have a flood light that brightly shines down on your patio space for safety, this isn’t what potential buyers want to see. Powerful lights like this tend to ruin the ambience of the area. Instead, try to add more subtle lighting, such as string or rope lights, if people will be visiting in evening hours.
Consider Making Additions
Additions like planter boxes, awnings, fire pits, and built-in benches take a significant amount of effort and money to install, but are attractive features that will add value to your home. Having space to entertain is a high priority for many buyers, and a patio that is already well-equipped for those activities is a big draw. These features will be memorable as they consider all of their options and prepare to make an offer.
More Quick Tips
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- Choose your focal point. Arrange your furniture so that potential buyers are looking where you want them to be while they’re checking out your patio. Try to put yourself in the shoes of the buyer–where do your eyes go first? If you notice you can’t help but look at the garbage cans you’ve tucked in the corner, do something to change that.
- Define your boundaries. Make sure it’s clear where you patio ends. Use furniture and decorations to create a visual division between your patio and the rest of the yard. Adding form and definition to the space will feature the patio as an asset rather than a standard addition to the house.
- Mind the details. If potential buyers are floating around, tuck that grease covered grill away, and pull anything that looks remotely like a weed. Make sure nothing is stopping visitors from seeing the patio’s full potential.
Regardless of what your budget is, by bringing new life to this space, you’ll be creating a feature for your home that will pay off when you’re ready to sell.
