Purchasing a renovated home is a great way to get all of the features you’re looking for in a move-in ready home, without doing the work yourself. But, like with purchasing any kind of home, there are always a few things to watch out for, and a few considerations to make before you actually purchase a renovated home. Here’s what you need to know before purchasing a renovated home, along with a few of the benefits a recently remodeled home has to offer:
Look for a Reputable Contractor
The first, and really only major rule to purchasing a renovated home, is to make sure your home has been remodeled by a licensed contractor. There are a lot of home “flippers” out there these days, each with varying levels of professionalism. The last thing you want is to move into a home that’s been poorly DIYed, so here are a few ways to make sure your future home has been renovated properly:
- Request a list of work done from the seller. This is a good way to figure out what’s been fixed, and what hasn’t been. You can also ask for warranty information on any of the new appliances or systems since these will transfer to you when you purchase the home.
- Consider purchasing from a real estate investor. Companies who renovate homes professionally are usually a bit more trustworthy than a homeowner who thinks they’re handy. Real estate investors like Renewed Homes renovate homes all of the time, which means they have licensed contractors and crews on hand to do all of their renovations by the book.
- Get the name of the contractor. No matter who you’re buying from, get the name of the contractor who completed the work. Then, you can look them up yourself and make sure they’re a licensed contractor. If they’re not, you might want to consider looking at a different home.
So long as you’re purchasing your renovated home from a contractor and seller you can trust, you’re sure to reap all of the benefits that come with moving into a newly renovated home. Here are just a few reasons to buy a renovated home, rather than fixing up a house yourself, or buying new:
Find a Home In Your Ideal Neighborhood
When you’re purchasing a renovated home, you have the freedom to buy in nearly any neighborhood. Many homeowners who opt to build their home can’t build new in some of the most desirable neighborhoods in town, because they’re already full. When you purchase a renovated home that’s been standing for quite some time, you’re able to move into some of those ideal, more established neighborhoods that boast great school districts, quiet streets, and nearby shopping centers.
Forget Energy Efficiency Worries
Most renovators know that home buyers want to see new, energy-efficient appliances and systems. In many cases, when you buy a recently renovated home, you get all of the benefits that come with a brand new home, like new appliances and updated heating and cooling, plus the character and history of an older home.
These updates can save you a lot in the long run. First, you won’t have to worry about maintenance and upkeep for some time, and second, you’ll reap the benefits of more energy-efficient technology. Since newer appliances are exceptionally energy-efficient, you’re likely to save quite a bit on those utility bills.
When you purchase an existing home that hasn’t been remodeled, usually there are a few things that stick out. Maybe the kitchen is very outdated and small, or maybe the plumbing isn’t quite what it needs to be. When you purchase a renovated home, you don’t have to worry about any of these concerns. Renovated homes are move-in ready. Most have new or updated kitchens, bathrooms, and living rooms, along with fresh paint on the walls, and up-to-date plumbing and electrical. All you have to worry about is unpacking.
Simple, Straightforward Closing
For many homebuyers, the closing process can be the most stressful aspect of the buy. Luckily, this isn’t as much of a problem when you’re purchasing a renovated home, especially one that’s owned by an investor or real estate professional.
Anyone who’s renovated a home to sell is ready to close. If you’re purchasing a home from a real estate investor who has completed the renovations, you can rely on a quick, hassle-free close. They’ll have taken care of any financial complications ahead of time because they’re hoping to make the sale as easily as possible, both for you and for themselves. Plus, most real estate investors have been through the home selling process a few times and will have the information and support they need to get the paperwork done quickly.
Have more questions about purchasing a renovated home? Give us a call at (269) 362-0931 or contact us online today! As a real estate investor here in West Michigan, we regularly repair and renovate area homes for new buyers. We’re here to answer any questions you may have, and we’ve got a few properties available as well if you’re interested. Check out our gallery to see some of our past work.