Friday, November 16, 2012

Move In Ready or Fixer Upper?

Looking for a new home is exciting.  Sort of.  Yes, yes ... of course it's exciting ... but ... it's also stressful. 

It's not like buying a shirt.  You try on a couple, buy one.  Even if it wasn't right, you aren't usually out hundreds of thousands of dollars!  But a home?  Oh my ... what if you get it wrong?  What if the neighbourhood isn't what you thought it was?  What if the home doesn't work for you and your family?  What if there is something terribly wrong with the house and you can't afford to fix it?  What if a better home comes to market next week, after you've had your offer accepted?  What if, what if ...

I'm a planner.  I research everything to the nth degree.  I have thought this out a lot.  Have analyzed each area and determined the best suburb for our family's needs, wants, and future goals.  I'm pretty sure I got that right.  But the home?  Ugh ... it's more difficult.  How do you analyze a potential home?  How do you know that house X is better than house Y?  Are all homes potentially equal and viable?

We are currently struggling with whether or not to get a home that is basically move-in ready or find something cheaper, that needs fixing up.  The fixer upper would appear to have the potential for bigger gains.  The downside?  Spending more time renovating.  There is also no guarantee that our sweat equity would gain us more in the end.  And isn't it time to enjoy our home and focus on family?

What to do, what to do ...

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