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Should I buy a renovated home or a fixer-upper?

Should I buy a renovated home or a fixer-upper?

When it comes to purchasing a home in Vancouver, there are a lot of decisions to make.

Which neighbourhood do you want to live in?

What kind of home are you looking for?

What is your budget?

One of the most important questions, especially for Vancouver homebuyers, is: Are you looking for a renovated home or a fixer-upper? Here’s why.

The value of a fixer-upper and renovation design

We all know that house prices in Vancouver have skyrocketed, making it difficult for many families to find an affordable home. If you are in this boat, a fixer-upper can save your house hunt.

When there is work to be done, houses tend to be priced a little more reasonably, depending which part of the city you’re looking at.

Not only does that put a home within your grasp, but it also means that you are more likely to make money if you decide to flip the home down the road. Before that happens, though, you need to fix up the property, which means engaging in renovation design.

What renovation design can do for you

Renovation design allows you to turn a run-down or dated home into a modern jewel. Unlike an already renovated property, where you get the design and finishes that the previous owners wanted for the house, renovation design lets you create the home that suits you when you are working with a fixer-upper. You and your family are able to decide what amenities and style you want – and make those choices a reality.

Worried about the cost of these changes? No need; it is possible to use renovation design to make your dream home a reality – even on a tight budget.

If you have plans for flipping the home down the road, speak to your renovation designer about this. That way, you can discuss what renovations will make the greatest difference in value – and make these a part of your renovation plan.

As always, though, make sure you look into your fixer-upper before you purchase and do your due diligence to ensure that any previous work had permits so your house is as large as you want it to be and you are not responsible for any previous work. And do make sure that you get all the appropriate permits for your renovations as getting caught can be expensive.

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