Here at Pursuing Homes, we can’t tell you how many times a client has had an idea of what something will cost to improve their new home. Whether it be flooring, a new roof, or new HVAC system, we have been able to share our contacts with them and they were able to do the job for much less money than they expected.

On the other hand, if you're on a budget and can’t do the repairs or remodeling right away, you can look for homes whose full potential has yet to be realized. These are fixer-upper homes!  Even if you can't afford to replace the hideous wallpaper in the bathroom now, it might be worth it to live with the ugliness (for a while) in exchange for getting a house you can afford.

If the home otherwise meets your needs in terms of the big things that are difficult to change, such as location and size, don't let physical imperfections turn you away. Homebuyers should look for a house that they can add value to, as this ensures a bump in equity to help them up the property ladder. As a side note, if renovations are required, lenders may have loan programs that allow the cost of those renovations to be included as part of the loan.