Upgrading Your New Home Purchase Prior To Moving In

• It is much easier and less work in updating your new home purchase before moving in
• It is always more work, time-consuming, and costly updating a home full of furniture and people living on the premises
• Homeowners also need to consider the budget of renovations and updating a home
• Certain tasks such as kitchen and bathroom remodeling can be costly
• However, other renovations such as painting, flooring, and cosmetic repairs do not cost much
• Before moving in on your new home purchase, think about the basic repairs that need to be done prior to moving in

In this article, we will discuss and cover Upgrading Your New Home Purchase Prior To Moving In.

Considerations On Upgrading Your New Home Purchase

The home buying and mortgage process takes time.

• There are many stages in the home buying and mortgage process
• At best, it will take 30 days from the date you sign a home purchase contract to closing on a new home
• Part of the thinking process by homebuyers should be thinking about what type of upgrades and renovations need to be done prior to moving in
• The benefit of buying a new construction home by a home builder is you get to move into a turn-key brand new home that does not need any repairs
• However, that is not the case with existing homes that are older
• It is rather exciting to update your new home purchase prior to moving in
• However, some repairs and renovations cost a lot of money
• Many homeowners may not be able to afford to renovate the property completely
• They may have to do it piecemeal
• Make a list of top priorities on which repairs need to be made
• It is easier to renovate a home while there is no furniture and before being moved in

Painting and new flooring should be a no brainer and should be done prior to moving into the new home.

Prioritizing Renovations Prior To Moving Into The Home

The ideal situation is to fully remodel and update the home prior to moving in.

• However, if budget and costs become an issue, you need to prioritize the repairs on which repairs to do prior to moving in
• Many tasks are difficult to do after the home has been furnished
• Other tasks require vacating the home before renovations can begin
• There are essential versus non-essential renovations
• Many modern updates are nice but many times are not essential
• Who does not want a deluxe state of the art kitchen with brand new appliances?
• However, the costs of a new state of the art kitchen can run into the thousands
• The repairs that should be done prior to moving in should be repairs that improve the safety and structural integrity of the property
• Wiring, plumbing, and HVAC systems should be checked and fixed if repairs are needed
• Faulty wiring can be a fire hazard

Check the perimeter of the home and check for a cracked foundation. How is the roof? Are there any sections of the roof that need to be replaced?

Essential Versus Non-Essential Repairs

These types of repairs are essential repairs.

• Homeowners should first take care of these essential repairs versus cosmetic repairs that are less pressing
• Homebuyers should stay away from older homes in need of mechanical repairs
• Repairs that involve water heaters, HVAC systems, electrical, plumbing are high-cost repairs
• Homebuyers buying a home with needed repairs should plan ahead on how much it will cost
• These repairs should definitely be done prior to moving in
• After the safety and structural repairs have been done, then start renovating the cosmetic repairs that are needed
• Painting, flooring, replacement of lighting fixtures does wonders for the home without costing tons of money
• Buying a fixer-upper can be an excellent investment
• However, it may require many needed repairs to become habitable

If you are handy and enjoy working in a house, you may enjoy buying a fixer-upper at a discount and work on your house while living in it.

Upgrading Your New Home Purchase That Bring The Most Return On Your Money

A home is most people’s single biggest investment in their lifetime. One of the main factors homeowners should consider when updating and renovating their homes is the return on investment. What type of renovations will add value to the home? If you have an unfinished attic and/or basement, making the attic and/or basement into habitable space will increase value now and for years to come. Adding an additional bathroom will add value. However, certain high-cost renovations such as adding a pool and/or installing an outdoor kitchen add no value. It may make the home sell faster but there is no value there. Room additions add square footage to the home which adds value. Gustan Cho Associates are experts in FHA 203k Loans. These one-time close renovation loans allow you to purchase a fixer-upper and/or renovate an existing home with little to no equity. For more information about qualifying for an FHA 203K loan, please contact us at Gustan Cho Associates at 800-900-8569 or text us for a faster response. Or email us at gcho@gustancho.com. The team at Gustan Cho Associates is available 7 days a week, evenings, weekends, holidays. Gustan Cho Associates Mortgage Group has a national five-star reputation of not having any lender overlays on government and conventional loans.