PRO 

Houses are more affordable. Newly renovated homes with the latest up-to-date appliances will be priced to reflect the work put into the property. You can get into the same neighbourhood for a fraction of the price if you go for the fixer-upper and then add your own upgrades.

PRO

You can renovate the house to suit your tastes.

 

CON

Renovation budgets can get out of hand quickly if you don’t do enough research. Some projects can unearth costly structural problems that can eat into your profits. Get a thorough house inspection before you buy. Also, bring your contactor to the property for a free estimate to see if your dreams are even possible to execute in the new space.

CON

One word: Stress. Accept the fact that your dream home will be a nightmare while it’s under construction. If your new property comes with a suite, live in that suite until the work is complete, and just pray the project finishes on time