New Build or Fixer Upper – Which is Right for St. Louis Home Buyers?
When St. Louis home buyers decide to purchase a house one of the first choices that you will need to make is if you would rather buy a new construction or a fixer upper. There are advantages and disadvantages to both options for St. Louis home buyers and there is no one right answer. The right answer is different for each set of St. Louis home buyers.
How do you feel about maintenance?
If you hate doing home maintenance then buying a fixer upper is going to be a mistake. Older St. Louis homes are full of maintenance needs. Some are big, and some are small. If you enjoy doing work around the house and like to put your own touch on things and switch them up from time to time, then you would enjoy buying an older home.
However, if you can’t tell a wrench from a screwdriver, you might want to lean towards a new build. New construction provides St. Louis home buyers with the option of having a maintenance free home – at least for a little while. All homes have maintenance that needs to be completed, but you will most likely only be dealing with the minor issues if you choose to buy a St. Louis house that is brand new.
What can you afford?
You may love the idea of a brand-new house that no one else has lived in, but your budget may not feel the same way. New St. Louis homes come with larger price tags.
In most cases, St. Louis home buyers can buy a lot more when it comes to a fixer upper than you can for the same price of new construction. You may have an easier time affording the size house you want in the desirable St. Louis neighborhood that you want when you look at a fixer upper instead of a new house.
What kind of an investment do you want to make?
When you purchase a St. Louis home that has been around for years you are able to see the track record of the investment into the house over time. You can see how much it has appreciated or depreciated over time. This helps St. Louis home buyers to know what you can expect, to a certain extent, in the future.
When you purchase a new St. Louis house, there is little that you will be able to tell about it. If the entire development is new you will have an even harder time.
This is one reason it can be better to invest into a development at the end compared to the beginning. You can see how the neighborhood is progressing and make a more educated guess on what direction it will move in.
How to combine the two options
One way to get the best of both worlds is to purchase and renovate an older St. Louis home. You can get the character and charm that an older home provides while also knowing the track record of the house. This is able to be done all while enjoying what feels like a new construction when you remodel it inside and out.
The choice between a new or used home can be a big decision for St. Louis home buyers. And the right answer is going to depend on your personal preference along with the timing in your life. There are some times in life when adding in the renovation of a fixer upper is just not realistic. Think thought your situation and your budget before making your decision.