For many Americans, buying a home is a rite of passage. It is a symbol of independence and financial stability. In fact, according to the Federal Reserve’s Survey of Consumer Finances, 65.2% of families owned their primary residence in 2013.
Now, if you are thinking of buying a home there are important decisions that you have to make. Among these is whether you want to buy a move-in ready home or a fixer-upper.
Simply put, a move-in ready home is complete when you move in. A fixer-upper, on the other hand, is a property that will require repair (redesign, reconstruction, or redecoration), explains Derek Dawson of Dawson Property Management. Each option has its pros and cons.
Pros of Buying a Move-In Ready Home