Should you buy an ‘as is’ house or wait for the ideal property?

by Heather Jones
ideal property

As someone on the lookout to buy a home, it is pretty common that you will be looking for a good deal. However, many people find that buying a home often means paying a large price for a project they want to adjust to. Your ‘dream’ home might come with thousands of dollars worth of renovations that you wish to change. And often does not come down to function but style; you simply do not like the look. With that in mind, then, you might wish to look at buying a house ‘as is’ for a lower price.

Today, many people choose to sell a house in Chattanooga (or in many locations) for a lower price. But, if you have ever sold a home, you will know the weird negotiations and standoffs that can make the sale process needlessly time-consuming. It can also mean spending lots of your potential profit on changes to get the house in a sellable condition.

This could be money wasted. Why? If you want to buy a house, you might find it needs lots of renovations. Although it was renovated, there is more value in the lower price for many people.

Why would I buy a house as is? What is the benefit?

For one, a house that comes as is will be much cheaper. This is because it has not had the same amount of work and effort to adjust the place. Therefore, the seller admits that problems exist and asks for a lower price. This means that you could legitimately buy the home (or sell a home) as it stands for a lower price. Of course, it means a smaller profit at the end, but it also means you can make a quick(er) sale.

This is important because many of us want to buy/sell homes as quickly as possible. Buying an as-is house means you often pay a lower price and have more of a blank slate to work with. If you wish to change a property, it does not matter if it is in mediocre condition or renovated. Why not buy the cheaper property?

Buying as is means you buy a home that does not need to have work carried out twice. They also tend to be the kind of blank slate projects that allow you to imprint the design and the layout. This is very useful as it means that you can slowly but surely turn the home into your own.

Selling a House As-Is: How to Skip Repairs and Move On!
Provided by Selling a House As-Is: How to Skip Repairs and Move On!

At the same time, buying as is often means buying from a motivated seller. They want to get rid of the property and are happy to take a smaller fee to get it sold. So, you can save yourself money, and you can avoid ripping out new renovations because you do not like the look.

If your aim when buying a home is to turn it into your DIY project, buy a property that comes as is. You pay less, you avoid wasting new renovations, and you can get started sooner, thanks to the quicker pace of the sale. Buying would be ideal for anyone looking to design a home on a budget.

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