Is It Worth It To Buy A SWFL Fixer-Upper Home?

Southwest Florida is a great place to buy a home. But is it worth it to buy a SWFL fixer-upper home instead of a new build or a recently renovated home? There are pros and cons to each type of home you may want to buy and it isn’t always what you might think. Here are a few things to think about when considering what type of home to buy.

Cost

Most people think a SWFL fixer-upper home will save you a lot of money. And it is true that the cost of a fixer-upper is lower then that of a comparable home that is ready to move into, the reason is that you will be putting the difference into your renovations. However, if you have time  to wait for deals, can do some of the work yourself, or are flexible with your wants, then you can save some money by renovating a fixer-upper. However, if you are going to gut the house and start from scratch, you may end up paying far more then you would for an already renovated home… but this one will be exactly what you want.

Style

Some people I know are very particular about style. They may want a post modern early sixties design house. Or maybe they really want that early 20th century Florida home look, or even a colonial look. If that is what you want, then a new build is likely not what you are after. Although you can build to suit whatever style you are into, going away from current trends can raise the construction costs drastically by requiring an architect to design from scratch instead of just altering one of the dozen or so designs a builder has already paid to have designed. 

Having Things Your Way

Thanks to the popularity of house flipping shows on television, the amount of homes that have been recently renovated and are ready to move in to is probably at an all time high. However, these houses really are someone else’s idea of perfect. If you really want to live in your perfect house you either need to build from scratch, or renovate a SWFL fixer-upper yourself. You can choose cabinets and counter tops that you like as well as lighting fixtures, hardware, flooring and even vanities, toilets and tubs. The biggest benefit of a fixer-upper is that you can make your house uniquely your home.

The Down Side

Time is a major concern with a fixer-upper. If you are looking to buy a place and move in, a fixer-upper may not be for you. It can take weeks or months to get all the permitting and materials for your renovation. Then there is the actual work. Depending on how much renovation you are doing it can be quite some time before your SWFL fixer-upper is ready to move into. 

In addition to time, there is the cost. As I mentioned, you can usually buy a fixer-upper for a great deal, but depending on how much work you plan on doing to it, you may spend far more then it would cost to purchase an already renovated home. This is especially true when you factor in the amount you will have to spend to rent a place to live while the renovations are going on.

A SWFL Fixer-upper can be a great deal if you find a floor plan close to what you want, and you don’t go overboard on the renovations. However, there are new homes that can work just as well and are ready to move into the day you close. And thanks to HGTV, there are plenty of house flippers out there that may have your perfect mid-century modern home already renovated exactly the way you want it. You just need to look around before you make a final decision and buy your SWFL Dream Home.