Ep 3. Buying a Home That's Ready to Rock or Ready to Reno?
- January 1, 2009
My First Place is a TV show that follows first-time home buyers on their journey of purchasing their dream home. In season 11 episode 3, entitled "Buying a Home That's Ready to Rock or Ready to Reno?", the show explores the choices that new home buyers have to make when deciding between purchasing a move-in ready home or a fixer-upper.
In this episode, we meet three different couples who are all in the process of purchasing their first home. Each couple has a different set of priorities when it comes to the condition of the home they want to buy, and the episode examines the pros and cons of each approach.
The first couple, Mark and Melissa, are looking for a home that is move-in ready. They have a young child and work demanding jobs, so they don't have a lot of spare time to dedicate to renovations. They're looking for a home that is in a good neighbourhood, has a decent sized yard, and is already upgraded with modern finishes. They're willing to pay a premium for a home that meets their criteria, but they're willing to compromise on location if it means finding a home that doesn't require significant renovations.
The second couple is Jason and Isabel, who are looking for a fixer-upper so that they can put their own personal stamp on their new home. They're both creative and handy, and they want to take on a renovation project that will give them a great sense of accomplishment. While they're willing to make some compromises when it comes to the size and location of the home, they won't settle for anything that isn't a major fixer-upper.
The third couple, Greg and Emily, are somewhere in between. They want a home that is move-in ready, but they also want to have the option of doing some renovations over time as they build equity in the home. They're looking for a home that is in a great neighbourhood, has good potential for appreciation, and doesn't require any major renovations right away.
Throughout the episode, we follow each of these couples as they view different potential homes and weigh the pros and cons of different conditions. We see them tour old fixer-uppers with plenty of charm but also with many areas that require a lot of work. We also see them view newer homes that have already been updated but might have smaller yards or less character.
At the end of the episode, each couple makes their final decision about which home to purchase. Some end up choosing a move-in ready home, while others decide on a fixer-upper or a home with the potential for renovations. The show does a great job of highlighting the different considerations that first-time home buyers have to keep in mind when making these decisions, and it's a great resource for anyone who is considering purchasing their first home.