That Fixer-Upper Might Not Be A Bad Idea For First-Time Homebuyers!

In a more "instant gratification" society, recent studies show a trend among today's first-time homebuyers. Compared to just ten years ago, 93% of all first-time homebuyers are now not as likely to consider the "fixer-upper" type home. Recent buyers polled cited that "affordability" is their number one concern, but at the same time also consider the "move-in condition" of the home to be very important as well. Homes that may only need basic face lifts such as fresh paint, carpet, landscaping or even just window treatments can come with very large savings, adding instant "sweat equity" to a buyers home. Financial experts suggest purchasing a fixer-upper to build equity over time and later consider moving up to a second-stage home, which may then meet "move-in condition" expectations. Another advantage to purchasing a fixer-upper is that many sellers of this type of home are generally more motivated in selling quickly rather than attaining top dollar for their home. Good savings may also be found on homes that have been listed for over 180 days, homes owned by long-term owners, and house-flipping investors that may be eager for a sale. Click here for a list of homes that have been on the market for more than 180 days. Are you interested in setting up your own MLS search? For a customizable MLS search that we automatically email you daily updates, click on the above link or visit my Chicagoland Northwest Suburbs Real Estate site.