Is Buying a Fixer Upper Worth It?

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Should You Buy a Fixer Upper Home?

The latest trend from the past few years has been buying a fixer upper home.  But what are the pros and cons? Lisa Alonso Properties has helped our clients purchase many fixer uppers and we’ve seen all the excitement and all the setbacks.  In Loudoun County, VA you will find plenty of older homes that need a little love and care to be restored back to something fantastic. Often times they are in a great neighborhood or on a great lot and can really appeal to some buyers. 

So the question is – should you purchase a fixer upper home?

 

Here are a few of the pros of purchasing a fixer upper in an area such as Loudoun County, VA:

  • You get to do what you want with it!  You can renovate and design however you want. 
  • You will likely be able to see a big value in it when you’re done.  You will be able to sell it for much more.
  • They are typically less expensive than other properties.
  • You may be able to get more land surrounding it 
  • You can pick and choose which rooms you want to focus on over time. 

 

So what are the setbacks?

  • Renovations can be costly and unpredictable. Patience is key.
  • They are generally not move-in ready – so you may need a plan of somewhere to live while you are renovating. 
  • They can be a risk because you don’t know what you might find when you start renovating (and depending on the age of the home)

 

At Lisa Alonso Properties we have walked our clients through some really incredible older homes and we have seen them transform into something incredible.  But it does require patience, some money, and some time to invest. If that is something you are considering, give us a call and we can help you find a fixer upper that you love!