If you are looking for a home for you and your family to move in then you may be in the market for a house that is ready to go. If you find that you are having a hard time finding one that gives you the amenities you need and that fits in your budget, then you may want to go with a fixer-upper. However, you need to be selective about the fixer-upper you go with since fixing a house will cost you money as well. Here are some things to think about when you are trying to decide whether you should go with a house that needs some work:
Make sure the house will meet your needs: You want to look at a house as if it were all fixed up and make sure it is going to offer you what your family wants and needs after the work has been completed. Don't get so swept up in finding a house that you can afford and fix up yourself that you overlook the fact that it is severely lacking in the necessary square footage or amenities that are going to be important to your household.
Consider if you can do a lot of the work yourself: When you are looking at fixer-upper houses, you will see some that need an extensive amount of work done, some that need very little work and everything in-between. If you are going to need to hire out for a lot of the repairs that a house is going to need to have done, then you may find you will be spending more than if you bought a house that was ready to move into. If you find a house that needs a lot of cosmetic things taken care of like painting, door replacement, cabinet door replacement, new linoleum and other easy do-it-yourself jobs, then you may be able to get a great deal.
Do the math before you make an offer: Don't look at the price of the home and the fact that you don't think fixing it will cost much and make an offer. Instead, sit down and really do the math. Go over all the repairs it needs, make phone calls to get real and current prices on all the materials you will need, look into the cost of the tools and equipment you will need to buy or rent and remember that there are almost always extra things that come up when doing repairs. Once you have done the math you will be in a better position of knowing whether or not a house is worthy of your offer.
Contact a realtor for more information or to help you purchase real estate.