The Price Is Right
The number one reason for many buyers in our economy (especially us millennials) is pretty obvious – We’re penny-pinchers. Most of us have acquired student loans, low-income jobs, and high-priced rent. The odds of home-owning are not in our favor. Or are they? Homes that need a little work are more cost-effective purchases, have more negotiating room, and can be purchased with a rehab loan. The 203k loan, for example, will wrap the cost of the renovations in a neat little package within your loan, so you can save your hard-earned cash for the necessities of life. In addition, the rehab loan requires less money down than a conventional loan for a turn-key property. You can afford your dream home, while earning equity, which will allow you to sell your home for more when you’re ready to make your next big move.
Many old homes, especially those in New England, are unique and historical. As a realtor, I come across homes on a daily basis that were built prior to the 1900s. There are benefits to owning a house built “back-in-the-day”. These homes have a strong core, with sturdy bones. They won’t crumble at the slightest touch; they were built tough. And probably the most appealing draw is that they were built prior to the cookie-cutter designs that are widely used today due to the cost-effective approach of most contractors. Victorian and colonial homes will make you feel like the king and queen of your universe, which let’s face it, you deserve that title in your personal space!DIY Adventure
Adding your own personal touches to your home creates that golden feeling that it’s truly yours. If you’re interested in a custom home, tailored to your every desire, you will feel much more of a deep connection to your abode if you do it yourself. There’s not much better in life than feeling that close personal connection to your palace. When you put your blood, sweat and tears into your design, you will wake up every morning with a smile, knowing that you’ve accomplished your goal of achieving perfection. Not to mention the bragging rights that come along with such a massive project. You’re sure to impress your friends at every turn!
Bigger Is Better
It’s a fact that older houses are larger. They were built for large families. Nowadays, even if you have a smaller family, you can make practical use of the bigger square footage. Whether you decide to add a craft nook, run a small at-home business, entertain family during the holidays, or rent out a room to students or travelers, having a larger environment is anything but a waste of space. And even if you have a small family now, doesn’t mean that down the road that won’t change. It’s exciting to know that you’re preparing yourself for whatever future endeavors the universe drops on your plate. You’ll thank yourself later!
Have a sense of adventure, but don’t know where to start? Getting your head in the game, when it comes to repairing a house, only takes a bit of planning and research. There are a plethora of useful references, and gaining that knowledge is not something you’ll soon regret. Websites like YouTube.com and Pinterest.com are full of how-to videos and tutorials that will assist you along the way. And the bonding time with your family and friends is well-worth the effort involved. Who knows, you could pick-up a new passion along the way. Of course, for the intense work, such as electrical or plumbing issues. you might do best by contacting a professional. Engineers and carpenters go thru lots of schooling to become as experienced as they are. There is much you can do on your own, so leave the difficult stuff to the professionals.
Occupy your mind As Well As Your Body
If you’re going thru a tough transition in life, such as a divorce or the death of a loved one, and you’re feeling empty and emotionally withdrawn, renovating a fixer-upper could be the therapy you need to lift your spirits. The focus it takes to put elbow grease into a home is often enough to keep your mind in a positive place. Everyone deals with depression in their own way, and if you’re looking to walk a non-traditional route, and you have energy to shed, dig yourself out of your hole and put those tools to good use. Life is what you make it, and happiness is only a phone call away!