The appeal of a move-in ready home in Toronto, with “Nothing to do but move in,” is undeniable. Buying a house and moving is challenging enough without facing a lengthy list of repairs and renovations. But it doesn’t have to be that way!

Just imagine: You’ve packed away your last box. Everything is in its place, and now you really can just sit back and enjoy your new home. For many buyers, this dream of a perfect home is well worth any extra cost.

All the same, opting for a home with slight imperfections could save you money, potentially affording you more space or a coveted neighbourhood that might otherwise be unattainable.

As desirable as a move-in ready home may be, there are other factors to consider before submitting your offer. In this post, we’ll explore the advantages, the disadvantages, and the potentially unexpected costs of buying a move-in ready home versus a fixer-upper. 

Is Perfection Even Possible?

Is there really such a thing as a home that is perfect from the get-go? Even with a custom-designed home by top architects and interior designers, you’ll likely find things you want to change after living there for a while. 

These adjustments could be something functional, like the cabinet handles are on the wrong side or the bathroom vanity is too small. You’ll likely want some cosmetic changes, too. That perfect paint colour may seem less than ideal when paired with your new furniture and home decor. No matter how “perfect” a house appears, something will always need a little tweaking.

That’s why we recommend putting aside the idea of absolute perfection and instead focus on finding a property with potential. That could mean buying a brand new home with all the latest and greatest technology, where a few minor touches bring it to your precise specifications.

It could even mean finding an older house on a large lot you can tear down and rebuild entirely. The point is that your home will always be a work in progress. Your tastes will change as time goes by, and so will the need to update. 

Looking for more tips to buy a house that’s as close to perfect as possible? The posts below will help:

The Cost of Perfection

Even if you did find a house that met your idea of perfection, there would still be an expenditure of both your time and money. You would spend countless hours sifting through one listing after another, while visiting endless not-so-perfect houses before you find “the one.”

When you find a house you fall in love with, chances are, so have other buyers. If the bidding gets competitive, you may exceed your budget to secure the home of your dreams. 

Buying a new build or creating a custom home can get you close to perfection. As an added benefit, you wouldn’t have to worry about maintenance issues or repairs for a long time. However, there will be significant costs to be aware of, including HST, occupancy fees, and development costs. 

Plus, what you see is not always what you get when visiting a model home. Builders often advertise the base model to make the prices more appealing. However, the model home is likely to be decked out with every possible upgrade. You’ll want to work closely with your real estate agent to ensure you end up with precisely the features and design that you seek.

Maximizing the sale of your existing home will give you more options when buying your next. Learn more in the posts below:

Keeping Your Options Open

We often recommend a little compromise to help you find and secure the right home at the best possible value. Creating carefully-thought-out wish lists can help you reach the balance between perfect and ideal when searching for your new house.

These lists should outline all of the features your new home must have, what you would like to have, and attributes that you want to avoid. When you have a clear picture of what you’re searching for, you’re less likely to bypass an excellent home in the quest for perfection.

Minor Flaws Can Mean Big Savings

Unless you plan on tearing down and completely rebuilding or have an extremely generous budget for repairs, we recommend avoiding homes with structural problems or electrical issues. Extensive renovations can get very expensive very quickly and can offset any advantage of obtaining the house at a lower price.

On the other hand, some flaws can make a house seem like it’s in poor condition when it’s really a fantastic find. Peeling paint, old windows, and unkempt lawns can be off-putting, yet they are relatively easy and inexpensive to fix. Addressing these minor flaws can transform a fixer-upper into your dream home without the price of perfection.

If cosmetic flaws allow you to buy a house below market value, it won’t take long before you bring it up to your standards. Keeping your options open beats searching for perfection because it allows you to buy your ideal home sooner than you may have thought possible. 

Are you ready to start searching for your near-perfect dream home in Toronto? We can help you spot those hidden gems. Reach out today to david@batorigroup.com, bobby@batorigroup.com or call (416) 485-7575 for more information.