The term “fixer-upper” has largely been coined a real estate term in recent decades due to the popularity of several home renovation TV shows. Buyers can be drawn to purchasing a “fixer-upper” due to the potential to get a great deal on a property, and be able to customize it so it becomes their dream home. However, are fixer-uppers really worth all the hype we’ve given them lately? We will explore this together in this article.
Why Do People Buy Fixer Uppers?
Many people can see fixer-uppers as an ideal way to enter a hotter seller’s market due to fixer-uppers generally having a lower market value then the houses around them. They can make living in your dream neighborhood more attainable for many people. The lower price comes at a cost however, as most have major cosmetic or potentially structural shortcomings that are not always evident at the time of purchase.
Another major draw of purchasing a fixer-upper is the potential to flip the home for...
