Purchasing a home that needs a bit of fixing up can seem like a good idea, particularly for people who are avid fans of Do IT Yourself (DIY), however, you should make sure that you are fully aware of what you are up against before making any commitment to such a project.
If you are making a move to a fixer-upper, you need to fully understand just how much of a state of disrepair the home is going to be in. The great majority of people will not to be too happy about the idea of living with plaster dust and ripped up flooring for months on end; moving to such a place if you have a family can be even less appealing.
On the flip side, when you have finished the project you will end up with a home that has been custom made to suit you and your loved ones. You need to get a realistic view of what relocation to your fixer-upper will entail by talking to neighbors and friends who have taken on similar projects, as well as to contractors, and make a decision about whether the reward will be worth all the work and inconvenience.
Purchasing a new home is often a very emotional experience, however, you need to be logical in order to see if the property genuinely represents a good investment. Most things that are wrong can be fixed, but you need to know for certain that you will be able to afford to do all the work that needs doing.