Why do you recommend living in a house that you buy before you renovate it? It is relevant, of course, mainly for those who intend to live ...
Why do you recommend living in a house that you buy before you renovate it? It is relevant, of course, mainly for those who intend to live in the house even after the renovation
Reasons to live in a new home before renovation
In today's market, many buyers give up the order of overers for
Houses ready. As a result, significant opportunities abound
In prime locations like houses that need to work on a llinger
Street market.
In competitive markets, savvy consumers are attracted towards those
Houses that no one else wants. Why? They can customize the house
Their requirements and build equity along the way.
However, I often recommend buyers to live in a new home for
Some time before making any major
Renovations or expensive home improvements. I am not talking
Lighting or plumbing repairs necessary to make the house a residence.
Instead, I mean remodeling, discretion, and extensions
Other improvement projects.
Here are three good reasons to at least consider considering
The large home renovation projects until you have some time
Sit down.
1. Living at home can change your mind
You may have great visions for what you want to do
3 Reasons to Live in a New Home Before Renovating
In today’s market, many buyers forego fixer-uppers for
move-in ready homes. As a result, significant opportunities abound
in prime locations as homes that need work linger on the
market.
In competitive markets, savvy consumers gravitate toward these
homes that nobody else wants. Why? They can customize the home to
their requirements and build equity along the way.
That said, I often recommend that buyers live in a new home for
a while before undertaking any major
remodeling or pricey home improvements. I'm not talking about
lighting or plumbing repairs necessary to make the house habitable.
Rather, I'm referring to discretionary remodeling, expansions and
other improvement projects.
Here are three good reasons to at least considering holding off on
the big home improvement projects until you've had some time
to settle in.
1. Living in the home can change your mind
You may have grand visions for what you would like to do in a home,
based on its condition and your priorities at the time you buy it.
But until you're actually living there, it's difficult to know
exactly how you will use the house, what will work for you and what
won't.
Ultimately, it's this day-to-day experience that will inform
your home improvement decisions, rather than early notions of how
you want your everyday experience to be.
2. After buying a home, you deserve a break
Buying a home is a massive project, an awful change in your
life and a shock to the system - if not your finances. I've seen
Buyers jump through hoops, spending months on end looking for a
home. In some situations, it becomes a part-time job.
A home renovation can be yet another big and stressful project,
what with all the decisions to make and contractors to deal
with.
My recommendation: Take a break from the stress of buying your
new home.
3. You need time to plan
Any renovation, no matter how small, should be designed with
care. That means speaking to multiple architects, contractors or
designers to get their take on your ideas and options - a
time-consuming process.
An hour with a well-qualified contractor can uninstall
opportunities where you least expected them. For instance, even
though it may be an added cost now, moving the laundry machines
from the garage to the top floor during a larger renovation may
save you time and money down the road.
Conversely, hiring architects and contractors while under the
constraints of an escrow period is likely to cause problems for you
later.
Some buyers want to jump into renovations because they do not
want to live in a construction zone or pay rent and a mortgage at
the same time. While this may make some economic sense upfront, it
can still cause costly problems later.
Often, buyers who said they don't want a home that requires any
work end up buying a home that needs at least some. It's the
natural evolution of the buying process. Rarely does someone end up
buying the home they started off thinking they wanted.
While you should be open to doing work on a home, don't feel
stressed about getting it all done at once. Live as-is for six
months to a year. Take the home for a test drive and see how it
runs. You may be surprised at how your perspective and priorities
change once you settle in.
Find out which home renovations DIYers most regretted tackling
themselves.
Related:
Are You
Overimproving for Your Neighborhood?
Quiz:
Should You Renovate Your Home or Sell?
How
to Build a Home Renovation Team You Can Trust
Note: The views and opinions expressed in this article are those
of the author and do not needively reflect the opinion or
position of Zillow.
Originally published August 2016 .——————————————————————
Mon, 10 Jun 2019 23: 01: 15 + 0000
US Real Estate News - Post automatically translated 2 - English version
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