Is Paying More for an Updated Home Worth It? Here’s How to Decide

Inner Circle • March 11, 2025

If money were no object, would you Fix up this house?

If you’re in the market to buy a home, you probably want to negotiate the best price possible. But in today’s market, getting the best deal isn’t just about negotiating the lowest price—it’s about making a smart financial decision that balances cost, convenience, and long-term value.

Even if you’ve just started your home search, you’ve probably noticed that updated homes are often difficult to find and sell faster and at higher prices than homes that need some sprucing up. But how much more may not be so obvious…

Well, according to a recent press release, homes that are “remodeled” currently sell for nearly 4% more than expected, as opposed to last year when they only contributed to a 0.8% sale price premium.

This demand for updated homes signals a shift from the past when buyers were more willing to take on fixer-uppers. But does that mean paying a premium for a move-in-ready home is the best choice for you? Not always. The key is understanding when paying a premium for an updated home is worth every penny, and when rolling up your sleeves and tackling a few projects might be the better move.

The Math Behind Move-In-Ready Homes: Why Paying More Pays Off

For many buyers, choosing a home that needs work was once an appealing way to get more house for the money. But with today’s financing rates and inflation driving up renovation costs, that strategy isn’t always as cost-effective as it used to be.

The press release cited above also mentioned that fixer-uppers now sell for 7.3% less than comparable move-in-ready homes, which is the largest discount in three years. On the surface, that sounds like an opportunity. But the reality is that rising material and labor costs can quickly erase those savings. A kitchen remodel alone can easily exceed $50,000, and unexpected repairs often push budgets even higher. In some cases, paying a little more for a home that’s already updated can actually be the more affordable long-term option.

That doesn’t mean fixer-uppers are off the table. But if you’re considering one, it’s important to approach it with a realistic renovation budget, and an understanding that costs can change quickly. The home that seems like a better deal could become a financial headache if renovation prices climb beyond your expectations.

From an investment perspective, the financial math behind home improvements rarely favors the buyer who tackles renovations themselves. According to the 2024 Cost vs. Value Report, most remodeling projects don’t even provide a dollar-for-dollar return, let alone a profit. While minor updates—like replacing your garage door or front door—often offer solid ROI, big-ticket renovations like full kitchen overhauls or high-end bathroom remodels rarely recoup their full cost in resale value. And let’s be honest, when people think “updated,” new kitchens and bathrooms are the types of things buyers envision, not a couple of doors.

That’s one reason why many buyers are willing to pay more upfront. Instead of dealing with renovation stress, unexpected costs, and the hassle of living in a construction zone, they’re choosing the convenience of a move-in-ready home. And with the added bonus of being able to finance that cost over 30 years, the monthly payment difference might not be as significant as it seems at first glance, and likely more appealing than having to dip into the savings account or rack up the credit card bill.

When Paying More Makes Sense (And When It Doesn’t)

So, should you be willing to stretch your budget for an updated home? It depends. Here are a few things to consider:

When it makes sense to pay more:

  • You don’t have the time, patience, or expertise for renovations. Even minor projects can take months and often go over budget.
  • You want cost predictability. With an updated home, you’re not rolling the dice on how much renovations will actually cost.
  • The updates are worth more than the premium you’re paying. If you can buy an updated house for less than it would cost you to update any other options available to you, it’s likely a smart financial decision.
  • There just aren’t a lot of updated homes that come on the market. If renovated homes are few and far between, paying more for the opportunity to buy one can be money well-spent.

When buying a home that needs work might be the better move:

  • You have renovation experience or trusted contractors. If you’re handy and able to do the work yourself, or you’re able to hire contractors at a reasonable price, you may be able to save significantly.
  • You’re comfortable living through renovations. Some projects, like painting or flooring, can be done room-by-room over time, making it easier to live around. But if you need to do major kitchen or bathroom renovations, or gut the entire house, you’ll either need to be comfortable living through the chaos, or have a place to stay in the meantime.
  • You’re in a market where fixer-upper discounts are larger. In some areas, the price gap between updated and non-updated homes makes renovations a more viable option. If you can get a house that needs work at a substantial discount, and do the work for less than it would cost to buy an updated one, it might be worth the effort.
  • There just aren’t a lot of updated homes that come on the market. If renovated homes are few and far between, and you’re having trouble getting your offers accepted due to stiff competition for the few updated homes, it might make sense to buy one that needs work.

Every buyer’s situation is different, and there are cases where buying a home that needs work can still be a good investment. The key is to go in with clear expectations and a solid understanding of the true costs involved.

Working with a great real estate agent can help you evaluate your options and make a decision that aligns with your goals and budget. They can:

  • Help you compare updated and fixer-upper homes in your target market to see where the best opportunities lie.
  • Connect you with contractors and help you gather renovation cost estimates so you know what to expect before making an offer.
  • Help craft offers that give you a competitive advantage without overpaying.

The Takeaway:

Paying more for a move-in-ready home might seem like a splurge, but in reality, it’s often the smartest financial move. The best deal isn’t always about getting the lowest price—it’s about getting the best value.
If you’re looking at a fixer-upper, make sure the discount justifies the work and expense required. If you’re leaning toward a move-in-ready home, know that you’re not just paying for convenience—you’re paying for financial predictability and peace of mind.
No matter which route you choose, the right strategy can help you make a decision that stands the test of time. And that’s where working with an experienced real estate agent can make all the difference.


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Stay or Sell? How To Make the Right Call as You Age

By KCM • May 24, 2026
Stay or Sell? How To Make the Right Call as You Age At some point, as you start thinking about the years ahead , this question tends to come up: “Could I stay here long-term… or would it make more sense to move?” It’s not always urgent. It often shows up in small moments, like going up and down the stairs, keeping up with the maintenance, or just thinking about what the next chapter of your life might look like in this home. And for most people, the answer is simple. They want to stay. The USC Leonard Davis School of Gerontology found about 90% of adults over 65 prefer to stay in their homes as they get older (see below): But even if staying feels like the right answer, it’s still worth thinking ahead about what that might actually look like. That’s where the right agent can really help. What You Need To Plan for If You’re Staying in Your Home Aging in place is definitely possible. But it’s better if you have a plan. And here’s why. The home that once worked perfectly may need to change with you over the years. And it’s easier if you can anticipate those expenses. Sometimes that means small updates: like adding grab bars in the shower. Other times, you’ll have to make bigger decisions: like reworking layouts or moving key spaces to the first floor. Some of those changes are going to be simple. Others can be a meaningful investment. And that’s why thinking about it early matters. Not because you need to decide anything right now, but because it gives you time. Time to understand what your home may need. Time to explore your options. Time to find the right contractors. Time to space out the expense of the upgrades. According to ElderLife Financial, here's a rough baseline of what it could cost depending on what needs to be done (see below): And don’t worry. If your heart is really set on staying, but the costs feel like a concern, it helps to know you have options. Depending on your situation, there may be financial assistance programs available, along with tools like home warranties to help manage unexpected costs. Just remember, if you’re thinking about making updates, it’s always worth having a quick conversation before you start. A real estate agent can help you understand which changes tend to make sense for your situation and how they may impact your home’s value based on your local market. When Moving Might Make More Sense But staying isn’t always the best fit for every situation. According to Pegasus Senior Living: “While most seniors hope to age in place, practical considerations sometimes make selling a home the wiser choice.” Sometimes, it comes down to a simple shift: when the home that once made life easier, starts to make it harder. That might look like: Maintenance or yardwork that's starting to feel overwhelming Stairs or layouts that are getting harder to manage day-to-day Or needing more support or care or being too far from loved ones And sometimes, it’s not about necessity at all. It’s about lifestyle. Some homeowners just don’t want to live through major renovations. Others are ready to simplify, downsize , or move somewhere that better fits this next chapter, whether that’s a smaller home, a 55+ community, or a place closer to family. For them, moving simply means making daily life easier. Bottom Line There’s no one-size-fits-all answer here. Some people stay and make updates. Others move to simplify things. Either can be the right choice. The goal isn’t to pick one today. It’s to understand your options early, so when the time comes, you feel confident instead of rushed. And if you ever want a sounding board to think through what the future could look like for you, let’s connect.

Is Late May the Best Time To List Your House?

By KCM • May 21, 2026
Is Late May the Best Time To List Your House? You may have heard April 12-18 was the “best week” to list your house. That’s based on a report from Realtor.com. But now that it’s passed, you may be wondering if you missed your moment. Here's the good news – you didn’t. Because the reality is, there isn’t just one perfect week to sell your house this Spring. There’s a window. And right now, you’re still in it. Your Window To Sell Is Still Wide Open Here’s why. Different organizations run studies like this every year. And they don’t always land on the exact same week. That’s okay. It’s because they're using different research methods and even different definitions of what “best” means. But the fact that the results vary points to a larger trend. While there may be sweet spots, the entire Spring season gives sellers an opportunity to get some of the best conditions (and best sales prices) of the year. And it’s definitely not too late to jump in. Why Listing in Late May Is the Perfect Play According to Zillow, the best time to list your house this year is the last 2 weeks of May. And that’s approaching fast. Based on their analysis, this is the ideal time to do it if you want to make top dollar. Because, in this 2-week window, homes sell for more . Sometimes, quite a bit more. Depending on where you are and the price point in your area, some homeowners may even net tens of thousands of dollars extra in this sweet spot. As Zillow explains: “Why late spring? Buyer demand typically peaks before Memorial Day. Families want to move during the summer and settle in before the new school year. More buyers shopping at once can spark competition and lift prices .” And they’re not the only ones saying listing in May could be the key to selling for more. ATTOM Data analyzed almost 52 million home sales over the past 10 years and found sellers in May are achieving some of the highest returns . That means the ideal window this year is very much still open. What This Means for You If your goal is to sell for the strongest possible price, this is where timing and strategy come together. And you want to be sure you’re ready to make the most of it. So, what should you be doing right now? When prepping for a fast-moving window like this, you don’t want to waste time or money on the wrong prep work. And your agent is your go-to to make sure you’re focusing on the right things. They’ll be able to tell you if the “best week” is slightly different in your market. And what quick repairs or updates can help you get a higher price, without taking a ton of time or effort. Here's a quick example of things an agent may recommend based on information from Redfin: At the end of the day, when your prep time’s short, doing the right things matters more than doing more things. Bottom Line Zillow says the best time to list your house is just around the corner. Are you ready to make the most of it? If you want to take advantage of this Spring sweet spot and get top dollar for your house, let’s talk about what you need to do now to get ready to hit the market.

Think You Have To Put 20% Down? Most First-Time Homebuyers Don’t.

By KCM • May 20, 2026
Think You Have To Put 20% Down? Most First-Time Homebuyers Don’t. According to Google Trends, online searches for down payment information recently hit an all-time high. And that’s a clear sign more buyers are trying to figure out what they really need to save before making a move (see graph below): If you’re wondering the same thing, you can always turn to the internet for answers. But a lot of the time, it’s better to ask a local expert. Because here’s what a pro would tell you. The 20% Down Payment Myth The idea that you need 20% down to buy a home is one of the biggest misconceptions around the homebuying process. And the data debunks the myth. While there are benefits to putting that much money down, most first-time buyers put down far less. Here’s why. Unless it’s stated by your lender, you typically don’t have to have a 20% down payment. There are even some loan options designed to help you get into a home with a much smaller upfront cost. As the Mortgage Reports explains: “The amount you need to put down will depend on a variety of factors, including the loan type and your financial goals. If you don’t have a large down payment saved up, don’t worry—there are plenty of options available, and you don’t need to put down the traditional 20% . . . many homebuyers are able to secure a home with as little as 3% or even no down payment at all . . . ” For example, FHA loans allow down payments as low as 3.5% , while VA and USDA loans offer zero down payment options for qualified applicants, like Veterans. And those options are just one reason so many first-time buyers are able to buy without a 20% down payment. What Buyers Are Actually Putting Down So, if buyers aren’t doing 20%, how much do they actually put down? According to the National Association of Realtors (NAR), the median down payment for first-time homebuyers is only 10%. That’s half of what you probably expected. That means if you’re aiming to save 20% because you think you have to, you may be setting a timeline that’s longer than necessary. And here’s some more good news. It’s not only that you may be able to buy with less money down than you thought, but there are also options to help you get to your down payment goal even faster. Why You Should Look into Down Payment Assistance Programs There are a lot of programs designed to help you save for a down payment – and they can make a big difference in how fast you hit your savings target. Unfortunately, buyers don’t realize how many there are, or that they may qualify for help. Research from Realtor.com shows almost 80% of first-time homebuyers qualify for down payment assistance (DPA), but only 13% actually use it (see chart below): And that’s another big miss holding would-be buyers like you back. In the U.S., there are over 2,600 homeownership programs available, many offering significant financial support. As Down Payment Resource shares : “ With an average benefit of $18,000, down payment assistance (DPA) remains one of the most essential tools for addressing the nation’s affordability challenges. Programs continue to expand in scope, serving a broader range of incomes, property types and borrower needs, including first-generation, military and repeat buyers.” Imagine how much further your savings could go with an extra $18,000 you can use to buy. In some cases, you may even be able to stack multiple programs, giving what you’ve saved an even bigger boost. Bottom Line The simple truth is: most first-time buyers don’t put 20% down . And if you’ve been waiting to buy until you have that saved, you may be setting a timeline that’s longer than necessary. To find out what you really need to save and if you qualify for any help, connect with a trusted lender who can walk you through your options. You may be able to buy sooner than you thought.
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