Are you in the market for a new home but don't mind rolling up your sleeves to put in a bit of work? Buying a fixer-upper could be a great option for you. However, before jumping in, it's important to weigh the pros and cons to make sure it's the right decision for you.

Pros:

1. Lower purchase price: 

Fixer-upper homes are typically priced lower than comparable move-in ready homes. This can allow you to purchase a larger home or a home in a more desirable area that you may not have been able to afford otherwise.

2. Opportunity to personalize: 

When you buy a fixer-upper, you have the opportunity to personalize the home to your liking. You can choose the finishes and design elements that best suit your style and taste, rather than living with someone else's choices.

3. Potential for higher return on investment: 

By putting in the time and effort to renovate a fixer-upper, you can potentially increase its value and see a higher return on investment when it's time to sell.

Cons:

1. Time and cost: 

Renovating a fixer-upper can be a time-consuming and costly process. You'll need to factor in the cost of materials, contractors, and permits, as well as the time it will take to complete the renovations.

2. Unknowns:

 When you buy a fixer-upper, there may be hidden issues that you're not aware of until you start the renovation process. This can include structural issues, electrical problems, or plumbing leaks, among other things.

3. Stress: 

Renovating a home can be a stressful process, especially if you're living in the home at the same time. You'll need to be prepared for the mess, noise, and inconvenience that come with the renovation process.

If you're considering buying a fixer-upper in Perth, there are a few additional factors to keep in mind. Perth's housing market has been experiencing steady growth in recent years, which means that you may be able to see a significant return on investment if you renovate a fixer-upper and sell it in the future. Additionally, Perth has a strong community of home renovators and DIY enthusiasts, so you'll have plenty of resources available to you if you need advice or help with your renovation.

Ultimately, whether or not you should buy a fixer-upper depends on your budget, goals, and willingness to put in the time and effort to renovate the home. If you're up for the challenge, a fixer-upper can be a great investment and an opportunity to create the home of your dreams.

Get in touch with Starlight property today