Buy a Finished Home or One You Can Improve?

by Alessandra Imanabadi

By Alessandra Imanabadi · Nationwide Fine Homes

First decide what you want the purchase to give you.

Ownership, long-term investment, an opportunity to create value and the feeling of “we finally did it” are all legitimate goals. Many buyers want every one of them.

The difficulty is assuming one property will deliver them equally.

If beauty and the feeling of arriving home matter most, acknowledge that. The most appealing home may attract more buyers, so be prepared to understand the premium.

Creating value calls for a different search

For a long-term investment, a less finished home among stronger surrounding properties may deserve attention.

You can improve your home. You cannot make your neighbors improve theirs.

Improving a property to create near-term value is another decision again. It requires an understanding of the work, realistic costs and your willingness to live through it.

We have seen buyers comfortable spending $30,000 on a kitchen but unwilling to consider a $15,000 roof repair. The difference is often emotional rather than mathematical.

We once considered a property for ourselves with approximately $280,000 in quoted termite repairs. Our own team believed replacing affected sections could bring the work closer to $120,000. The opportunity came from understanding the scope differently—not ignoring the report.

But if a $50,000 financial gain costs your family what feels like $100,000 in stress, it may be the wrong purchase.

Alessandra begins by understanding the outcome you want, then brings the property and appropriate specialists into that picture. You do not need to arrive with a perfect brief. Discovering those priorities is part of the service.

Explore our approach to buying