Buying a home is an exciting time and a huge investment. For some, the first home they choose is the place they raise their children and possibly spend the rest of their lives. However, you don’t have to purchase a brand new home or one that doesn’t require any work. There are benefits to purchasing a home that requires a bit of work, and Centennial State Insurance Agency, serving Bailey, CO and the surrounding area, is here to help.
Choosing a Fixer Upper: Top 3 Benefits
Less Initial Expense
If you’re trying to purchase a home with a limited budget – either with a small down payment or a low budget per month for a mortgage, or both – purchasing a fixer-upper allows you to take out a smaller loan and have lower monthly payments. If the price of the home is lower, you’ll be able to put down a smaller down payment.
Make It What You Want
When you purchase a home that doesn’t need any repairs or fixing, you pretty much get the home as is. Typically, you’ll only change the color of the walls and flooring and won’t do very much to change the home. However, when you have a fixer-upper, you’ll be more likely to want to spend money to change it, and you’ll be able to change it to what you want. The possibilities are endless.
Typically, when you choose a homeowner’s insurance policy, the amount that’s covered is based on numerous factors, including what it would cost to rebuild your home as is. The rate you get for an insurance policy for a fix-upper is reflected in your premium.
Contact Centennial State Insurance Agency, serving Bailey, CO and the surrounding area, by calling 303-838-0554 after you purchase your fixer-upper to receive a quote for a policy.