Buying a fixer upper is now trendy thanks to the ton of shows on the HGTV network. Shows like Fixer Upper, Property Brothers, and Flip or Flop have transformed the way this generation approaches the homebuying market which has both an upside and downside.
One of the major benefits of these shows is it is motivating this group to be more active buyers and rehab properties that need a little TLC. In the past, properties that need a lot of work would have sat on the market for a very long time before a buyer was daring enough to take on the task of renovating it. The stars like Chip and Joanna make the process look easy and fun for the viewers and give many people confidence to take on huge renovations.
The down side is it has created some false expectations to what the home buying process is in real life. In 30 minutes to an hour, it is impossible to show what really goes into finding and then buying a home. One of the biggest issues in our current real estate market is the length of time it taking to find a home. Presently with the lack of homes for sale as a national trend, it has become very common for it to take greater than a year for a buyer to find a home and sign a contract. This means a lot of hours scouring the internet and even more time spent going to see homes & open houses on weekends.
Shows on channels like HGTV are great to provide common knowledge to what is in the market but as a buyer you will need to find your own trusted team consisting of a realtor, mortgage banker & attorney to realistically help you through your specific market’s intricacies. The best advice a new homebuyer can get is BE PATIENT! This process will take some time to find the right fit. The best equipped buyers have a living situation in which they are not under time constraints to get out of, have set a budget they know they can afford, and are preapproved for exactly how much they are able to spend.
For more tips on having a smooth homebuying experience, be sure to watch our video with the Key to Stress Free Homebuying! .