All the Information You Need Before Buying As Is Home (3 of 4)

Pros of Buying a Home As Is

There are several reasons why you might opt for a buying as is home:

• Lower Purchase Price: Such homes are usually priced below market value, and which can make it affordable to move into a more desirable neighborhood.
  
  
• Renovation Potential: If youve ever dreamed of designing your ideal space or taking on a renovation project, you have the flexibility to customize from the ground up.
  
  
• Investment Opportunity: Real estate investors often seek out distressed or as is homes to flip for profit. If youre looking to build equity through renovation, going this route is worth considering.
  
  

Cons of Buying a Home As Is

Of course, with benefits come drawbacks. Here are some of them:

• Repair Costs: Renovations arent cheap, especially if major systems (like plumbing, electric, or roofing) are failing. Always budget above your estimated costs.
  
  
• Time and Effort: Major repairs can delay move-in dates and create stress, especially if youre living in the home while it is being renovated.
  
  
• Unseen Issues: No matter how thorough an inspection is, some problems may not surface until after closing. When buying ‘as is’ home, you are stuck with that risk.