Buying a fixer-upper is one of the best choices many families make. If you are in the military, you might consider buying a fixer-upper to work on a project you can sell if you are sent to a different base or deployed.
Are you curious if buying a fixer-upper is the right option for somebody in the military? Keep reading.
You Are Buying a Work in Progress
A fixer-upper is a great opportunity to take on a new project, something that keeps you busy when you aren't on base. If you have a limited budget, this is an especially good option. If you are a first-time buyer, even better.
Keep in mind that a fixer-upper can be a challenge if you are facing deployment. You may need to call in reinforcements to take care of your renovations while you are deployed, for instance. If you plan to deploy in the middle of your project, you can hire professionals to take care of these steps. You may even come home to a completed project.
You May Find Renovations Difficult
Of course, there is also the chance that you have a family that does not want to deal with renovations if you are deployed elsewhere during your stay. This means that you need to consider the well-being of your family before you buy a fixer-upper.
There are some situations where a military spouse is able to handle the renovations while their spouse is deployed, which can actually be emotionally fulfilling for somebody missing their partner. Buying a fixer-upper is definitely something to consider for military families who want to build community connections, as stressful as it may be.
You Need to Do a Lot of Planning
Many people in the military do not know exactly where they will be in the future. This means you could find yourself in a situation where you have paid to fix up your home only to be told you are moving to a new base in a matter of weeks or months.
When you buy a fixer-upper and are in the military, you need to be willing to say goodbye at any moment. This can be emotionally stressful, though this does not mean it is not worth your while. Selling a fixer-upper after working on it can allow for a good return on your investment so that you can buy a larger house with more amenities in your next area.
Talk to a Real Estate Pro
Real estate agents who work with military families are often well-equipped to help people like you determine the next steps. Contact a real estate agent like Lorraine Santirosa - HomeSmart Realty West today to learn more about your options.