Yes, no rush. We got in because of the crash, and were lucky because we had been saving for a few years before that. We got a fixer-upper. The shitty house in the good neighborhood option. I've touched every inch of the house. It has an amazing lot though. Because of sweat equity and market/interest rates timing, it actually has been a net positive investment. I don't think you are going to see substantially higher rates or prices for the next couple of years, so I would be picky.
Yeah. The only problem on our end, I don't think we'd ever actually get anything done if we got a fixer upper unless we hired people to do it. So buying a rough house in a good neighborhood would still be more expensive than the initial investment. :/
the truth is that, as a homeowner, You're going to be throwing money at the house whether it's a fixer-upper now, or a fixer-upper later when you've not done the maintenance. At least with a fixer-upper, you can do the repairs or have them done, and be confident that they're up to new code and your standards (and also that they'll be good for a few years). Just include the cost of potential fix ups in what you're willing to spend for the house. I mean, a house in great shape is basically a lie - I've certainly never seen one. If it looks good, you have to wonder what you're not seeing.
Indeed. I think a lot of hesitance, on my part at least, to pull the trigger on a house is that I know that there will just be so much additional cost and work involved. They kind of strike me as money pits.I mean, a house in great shape is basically a lie - I've certainly never seen one. If it looks good, you have to wonder what you're not seeing.
Well, really any large purchase that will last a long time is a money pit. Look at it this way - At least you are not buying a boat.