Should Your First Home Be a Fixer Upper?

fixer upperBuying a home for the first time is one of the most important financial decisions most Americans will make. While the price tag of a fixer upper may seem appealing to a first-time homebuyer, is it really the right financial move for someone who has no experience being a homeowner? According to William Giakoumatos, vice president of American Custom Contractors and a contributor to a recent article for RISMedia, there are seven important factors a first-time homebuyer should consider before investing in a property that needs repairs. One of the most important things he says a first-time homebuyer should consider is how much savings they have allocated for home repairs after they purchase the fixer upper. He writes, “Even if you have plenty of savings, it’s a good idea to get some repair estimates before committing to buying.”

To learn more, read the entire article.

Image Source: Will Keightley