Santa Clarita Valley

Which Santa Clarita House to Buy – a Fixer, New, or Remodeled?

All three homes can be found in Santa Clarita today.  So which house makes the most sense?

Below is an example of each of these homes for sale on the market today.

The fixer-upper – 3 bed, 3 bath, 1,733 sq.ft. in Valencia, asking $448,800

The new home – 4 bed, 4 bath, 3,396 sq.ft. in Valencia, asking $619,500

The remodeled home - 5 bed, 4 bath, 3,061 sq.ft., pool, huge lot, in Valencia, asking $829,000

Obviously, every home appeals to someone differently.  And everyone has different tastes and budgets when choosing a home.

But in today’s real estate market, “easy money” is a dead term.

Gone are the days of 25% annual appreciation, HELOCs, equity loans, and cash-out refi’s.  Today, if a homeowner wants to remodel or improve their property, they cannot count on any of the financing tools above.

Nope, the homeowner now needs…gasp…CASH!

So the question remains:  If you were able to get a good deal on a fixer in Santa Clarita, and you were planning on dumping some cash into the property to make it your own, would you?

Perhaps you might find a much better value to purchase a fully-remodeled home with most things just as you like.  This home would become a turn-key property for you that’s move in ready.

You might also prefer to purchase a brand new home which includes builder warranties, energy efficiencies, and deferred maintenance?  But you still need to landscape the back yard (and sometimes front yards) and could incur major costs in hardscape, patios, and even a pool.

Unfortunately, the days of buying a fixer, living in it for a while, and then remodeling or adding onto it with an equity loan do not exist.  It can be 10 or more years with little to no home appreciation.  If that scenario becomes a reality, then the homeowners who purchased a fixer to upgrade down the road will need cash, and lots of it, to make their home nicer.

So which home is best for you?

Why don’t you view all three different types of properties and choose for yourself?  The Santa Clarita Valley has enough home varieties for all tastes and budgets.

Please feel free to comment below.  If we can be of any assistance to you in buying or selling your home, contact RedBrick Properties.