Why you might want to buy a resale home and remodel it in this market.
We’re in interesting times in the real estate market. Rates have gone up, and more new homes are hitting the market. If you want a house right now, what can you do?
The house in the video above belongs to one of my clients, and it was a challenge to purchase. The home is very well-built, the lot is gorgeous, and the floor plan is a diamond in the rough.
"New homes might feel clean and new, but they lack the character we all look for in houses."
They took this mid-century house and totally changed the flooring, light fixtures, kitchen, and more in eight months. They were able to move in right away and get working on upgrades like their two living rooms, two dining areas, their office space, and a great coffee bar.
My point is that they got a good deal by buying a house that wasn’t exactly what they wanted. Then they spent some time, energy, and a bit of elbow grease to turn it into a spectacular home. There’s something exciting about taking something in a raw form and turning it into what you’ve dreamed of.
You can’t always do that with a new home. They’ll come in the gray or beige package that is nice and new for a few years, but after that, it feels like they lack the character we all look for in our homes.
I would say that you should think about your options. Rates have gone up, but you could maybe get an adjustable-rate mortgage. If you’re interested in buying that diamond-in-the-rough home, give my team and me a call. We would love to help you.