There are different things to consider when purchasing a home. Some of them are the price, size, and location. You can find a wide selection of properties for sale in Essex and the surrounding areas in reputable sites like Beresfords. If you choose to move to those locations, it’s a great place to start your search for homes for sale. Every homebuyer has their preferences and requirements. Aside from the factors mentioned, another thing to consider when buying a home is the type of property to purchase. Below are the property types that you can choose from and their pros and cons.
New construction means that the house will be constructed, so everything will be made from scratch. You have to hire someone to build it for you. Since it is a brand new home, and you are the first to live there, there will be little to no repair, which will save money. If you oversee the construction, you can also be sure of the quality of the materials and the build.
It also comes with disadvantages. Since the building will start from scratch, it may take a long period before you can move in. It may take even longer if there are interruptions in the construction due to various reasons, such as delay in delivering materials and typhoon. The cost of this type of property is also higher.
Fixers are properties that are not in good condition and would require repair before you can move. The most significant advantage of this type of home is the price. You can get it at a low cost, but you may spend more fixing and upgrading to make it comfortable and safe. You will have more freedom in changing the layout and design that will fit your style. However, it may also take time for you to move in because of the repairs required. Plus, financing options are only limited.
Flipped homes are old homes that are fixed and upgraded by real estate professionals. These can be fixer properties that the investors made over before selling. These homes are also on the affordable end. Plus, you can move in right away. If there is a need for repair, it might only be minimal. The downside is that there could be problems that you might not know, or the quality of the repair may not be excellent.
Move-in ready or turn-key
As the term suggests, you will be ready to move in with this type of property. There is no need for repair, but you also don’t have an option on how it looks. Once you have it, you can do a makeover to fit your style. However, turn-key homes are typically more expensive than fixers and flipped houses.
No matter what type of home you choose, be sure that you do an inspection to ensure that you know its condition and the repairs needed, which will be an added cost. It will help in making an informed decision.