Homebuying is a Challenge for Many Buyers: Melissa Walsh Featured in The New York Times
While it's tempting to jump into the home-buying frenzy, it makes sense to carefully consider your options first. In a recent article in The New York Times, Melissa was featured sharing her experiences in working with clients who are purchasing new homes.
"Beware the fixer-upper and other hidden costs.
Properties in less-than-ideal shape are enticing to those hoping to save some money, but supply chain problems and other issues are making that much harder, experts said.
“I have clients who have recently tried to partially circumvent the affordability issue by purchasing homes that need significant improvements,” said Melissa Walsh, a financial planner and founder of Clarity Financial Design in Sarasota, Fla. “Because contractors are hard to come by and material prices have been increasing at a rapid rate, these clients are finding that purchasing a fixer-upper may not be the bargain that it was a few years ago.”
She suggests setting aside plenty of cash — she has had two clients spend more than twice their initial estimate for renovations this year."
Read the full article on The New York Times website.