Would you rather… 1) buy a 4 bedroom fixer upper for about $500K OR 2) buy a 4 bedroom move in ready home for $700-$750K. Suburbs. Not sure if it’s a good idea to buy a fixer upper nowadays with labor and supply costs so high!

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You are right - go for the move in ready house. Spend your efforts in chasing deals for 200k bonus instead 😄

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How “fixer upper” is fixer upper? If it’s functional but outdated, I’d go that route. If it’s non functional, and/or needs major repairs, I’d pass.

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My last 2 primary residences were functional but outdated. Did some immediate updates in the first few months to make them “tolerable”, then a new project every 6 months to continue to improve it. I’m all for adding value progressively over time 👍

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Fixer upper. You get to renovate the house the way you like, rather than what someone else likes.

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Which one is better location? Fixer in good neighborhood way better than move in ready on busy street or treeless cul du sac.
Also keep in mind even the move in ready will need repairs, you’ll be surprised, how much you still will spend.

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If you have the energy, time and know how - to build sweat equity the fixer is better. Otherwise just buy the one you like for the yard, neighbors, how much sunlight it gets cuz it sounds like a wash.

Depends on if the amount of work is less than 200k

That’s what I’m trying to decide myself. Never done a fixer upper before.. I’m estimating costs to be Under 200k for fixer upper. But who the hell knows!

List of repairs that need to be done on the fixer upper?

If it’s just that, that’s far from $200k. I’d go with fixer upper

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