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closeThe appreciation in Whatcom County's real estate market during the past several years has meant that some first-time buyers have no choice but a fixer upper.
Buyer Tours Realty agent Leah Bunger says a lot of first-time buyers want to find new-construction homes that cost less than $300,000. That's a tall order.
"Some people say they don't want to do the work, but that's the price range they're in," Bunger says.
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NEW HOME
Pros- Less maintenance.
- May be able to choose finishing materials.
- Comes with home warranty.
- Modern floor plans.
Cons- Typically need to install landscaping.
- Less character in home and neighborhood.
- Smaller lots.
EXISTING HOME
Pros- Character in home and established neighborhood.
- Can be remodeled to new owner's tastes.
- Mature trees and landscaping.
Cons- Remodels can be costly.
- Outdated floor plans.
- Smaller rooms.
- Often lack master suites.
Although not maintenance-free, new homes allow most homeowners to delay the costs of any sort of large-scale maintenance, such as roofs, water heaters or furnaces. Plus, in new homes, buyers can often pick floor plans and finishing materials before construction is completed.
For some people, new home tracts conjure images of sterile, cookie-cutter developments.
"I have just as big of a call for older neighborhoods for people who like the character of an older home," says Prudential Kelstrup real estate agent Mike Parcher. Established trees and landscaping, neighborhood schools and unique floor plans for every home on the street are big draws.
Unless a home has been recently remodeled, most people can expect to have some projects to complete if they buy an older home.
Parcher says if buyers know they want to remodel, they should get contractor estimates before buying. Then they'll know the true cost of a fixer upper.
Also, Parcher recommends buyers obtain home inspections whether a home is new or not as a safeguard.
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