| "> | | | | - Unless you get good deals on materials and do a |
| There are pros and cons with every approach. | | | | decent amount of work on the house yourself, |
| Each case should be measured and judged on its | | | | the profit on your project may be rather minimal |
| own merits. My clients and I have done our share | | | | Why Buying a Fixer-Upper Could be a Good Idea |
| of both. It's a question that bears close scrutiny. | | | | There's no question that buying a fixer upper can |
| In this discussion, we'll analyze the pros of buying | | | | be complicated but, they don't have to be. |
| and upgradin a fixer-upper, and the cons of | | | | Choosing wisely can make your fixer upper fairly |
| building a new home. | | | | straightforward and can turn out to be a good |
| The Case Against Building a New Home | | | | deal for you. |
| Building a new home from scratch is a major | | | | Here are some reasons why buying and |
| project. It really takes dedication and time to | | | | remodeling a fixer-upper could be your best bet: |
| successfully complete your home. Your | | | | - There are some good deals in home purchases |
| commitment better be complete and you'll have | | | | and if the renovation project isn't too complicated |
| to set aside months and months - even | | | | or costly, it can pay dividends |
| sometimes years to finish. | | | | - You can complete many remodeling projects |
| Here are some of the reasons why building a new | | | | with very little need for home building materials |
| home may not be your best idea: | | | | - You may not need the services of an architect |
| - You'll have to either buy house plans and | | | | or designer |
| blueprints or have an architect design them | | | | - You can often get away with minimal home |
| - A complete package of building materials is going | | | | building/remodeling permits |
| to be costly and difficult to put together | | | | - It's often possible to complete a lot of the work |
| - Getting your house plans approved by the | | | | as a do-it-yourselfer to keep the cost of hiring |
| building authorities is going to likely be difficult and | | | | contractors to a minimum |
| time consuming | | | | - Building time is vastly less with a minimal |
| - If you don't own land to build on, buying it is | | | | remodel ... the savings in the cost of money over |
| going to add significantly to the over all cost to | | | | a two month period vs. 12 to 24 months is |
| build | | | | substantial |
| - You may have to bring utilities to your building | | | | - If you're also looking for a place to live, buying a |
| lot | | | | fixer-upper is an immediate solution |
| - Many parcels of land have Covenants, | | | | Getting Professional Help |
| Conditions, and Restrictions to deal with and they | | | | This article is meant to give you things to think |
| can be very restricting | | | | about. Before you decide what approach is the |
| - Construction loans can be difficult to get and | | | | best for you, speak to home building professionals. |
| you may be required to pay cash for the | | | | A great place to start is to talk with and hire a |
| purchase of the land | | | | home building coach. |
| - A lot of skilled and licensed labor may be | | | | Read, study, and learn all you can before you |
| required to build a home from scratch | | | | make your choice. It's a great experience either |
| - From beginning to end, it can take two years | | | | way. |
| for some home-building projects | | | | |