Which is wiser: to buy a cheap house and renovate it or buy house in mint condition at the limit price?

I am looking at houses to buy and today say a house which is selling around 300,000 but needs work done on it to make it new or should i keep looking for a better house. Which would you choose and what would you take under consideration?Which is wiser: to buy a cheap house and renovate it or buy house in mint condition at the limit price?
i would choose a new house.


too much money for repariing.Which is wiser: to buy a cheap house and renovate it or buy house in mint condition at the limit price?
The most significant question is whether you can get a return on your investment of:


~Time


~Money


~Patience





Contract labor is relatively expensive, and the costs of paying someone to do work add up quickly... plus materials.





Time is important. I can build a house, so am able to fix anything in one I buy, but the question I often ask myself is what other aspects of my life I'd neglect by investing time in a fixer-upper?





Patience. Most people want instant gratification, and many repairs take time. There is a tempatation to start many projects at once, rather than proceed in a methodical manner. I'd caution against this impulse (although I haven't taken my own advice and have about 100 half-finished projects).





Good luck in your decision.
Take the fixer-upper. Recent history (the last 18 months) show that housing prices can go down as well as up, and over a period of decades the price of a house goes up about at the same rate as inflation. The more expensive house may go down in price (so can the fixer-upper) but you will have a larger mortgage to pay off.


Look at the fixer-upper as a chance to personalize your house. An expensive house may have, for example, new kitchen cabinets that you don't mind living with but aren't your favorite style. An expensive house may have carpets where you would rather have wood floors or vice-versa.


Make the $300,000 house your own and keep your mortgage payments low, so that eventually you will have enough money left over each month to actually have some fun instead of paying all you have to a bank.
I thought I made the right decision building and 1 year later I was repainting re carpeting putting tile down replacing all the cheap builder products in the house down to door knobs everything is built so cheap in last 10 years. I think now I would have been better off buying a fixer upper cheaper having 30 years of lower mortgage payments and fixing it up. I would have spent probably less money renovating than replaces all this builder crap! Older houses are very charming and usually have real wood doors cabinets character and right now I would love if my mortgage was about 1/2 price!
if it was just me, i would buy the newer house because i am not handy


BUT i am married to a tradesman, so if we were buying it he could tell us how to fix things and i could do it if directed





if you are buying a home to fix up


please keep in mind that renovations take time and money


if you don't know what you are doing you can waste a lot of time and money as well






If you buy a house that brand new it has a higher chance of having things go wrong later because the foundation is still settling and if you buy one that needs to be renovated make sure you have enough money and time to do everything but at least you know whats needs work that's what we did we've been here almost 2 years and were still changing things but we did the major things first and its pretty good and when you sell it you will get more than what you bought it for
I definitely don't think it would be wise to max out your credit to buy a perfect house, but if you're not crazy about the house you saw today you should definitely keep looking. But I think you'd be better off buying something that would afford you the extra cash to make any necessary improvements.
well, depends on the house. so long as it is structually sound and you have the money to make it the way you want, ok, but me i wouldnt want the hassle. i would rather just buy something ready to move in without having to do anymore to it
i would just buy the house in mint condition, considering it is exactly how you want it, no point if you are gonna re-do it. renovating has so many hidden costs, its not just as simple as 'doing it up'
300,000? in my area that would buy an extremely nice house that doesn't need any work LOL The joys of a low cost of living!





Anyway, if you want the house to be yours...and make it the way that you want it then definately go with a fixer upper.....





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Hmm... that's a tricky one but I'd probably say the mint condition one because the money's already spent, you can underestimate the cost of renovating and the emotional and physical drain too!
If the Renovations cost more than the mint condition house then just go for the better house
Keep looking for a better that you can afford without killing yourself and that it doesn't need renovation cause there could be hidden repairs or have a good licensed inspector inspect the haus.
I would get a even bigger house in mint condition so I don't have to spend time and money on something that could be made even better for a few 100,000 dollars
If you can do the work yourself, then buy the fixer-upper. Otherwise, buy the house in better shape.
it really depends off the actual condition of the house...
mint condition
no matter what the condition, its the location that counts.
you have to look at how many renovations you would have to make nad how much that would cost...then compare
fixer uppers.
if I can do the work


it's Sold !
Rent, dont buy a house now! with all the problems today!


or cheap house and renovate it..depending on how much renovation is needed..at least you'll get it done to your taste.