November 25, 2024
All Real Estate News
Looking to buy a home but feeling like almost everything is out of reach? Here’s the thing. There’s still a way to become a homeowner, even when affordability seems like a huge roadblock – and it might be with a fixer-upper. Let’s dive into why buying a fixer-upper could be your ticket to homeownership and how you can make it work.
A fixer upper is a home that’s in livable condition but needs some work. The amount of work varies by home – some may need cosmetic updates like wallpaper removal and new flooring, while others might require more extensive repairs like replacing a roof or updating plumbing.
Because they need some elbow grease, these homes typically have a lower price point, based on local market value. In fact, a survey from StorageCafe explains that fixer-uppers generally cost about 29% less than move-in-ready homes.
And that’s why, according to a recent survey, more buyers are considering homes that need a little extra work right now (see below):
If you're looking for an option to get your foot in the door, and you're willing to roll up your sleeves and do a bit of work, a house with untapped potential may be a good option.
Before you buy a home that may need a makeover, here are a few things to keep in mind:
Remember, the perfect home is the one you perfect after buying it. By starting with a fixer-upper, you have the opportunity to customize a home to your liking while saving money on the initial purchase price. With careful planning, budgeting, and a little bit of vision, you can turn a house that needs some love into your perfect home.
Real estate agents are great at finding homes with potential. They know the local market and can guide you to homes where smart upgrades can add value. With their help, you’re more likely to find a house that fits your total budget and has room for worthwhile improvements.
In today’s market, where the cost of homeownership can be intimidating, finding a move-in-ready home that fits your budget can feel like a real challenge. But if you’re open to putting in a little work, you can transform a fixer-upper into your ideal home over time.
Stay up to date on the latest real estate trends.
December 7, 2024
December 6, 2024
December 4, 2024
November 30, 2024
November 28, 2024
November 27, 2024
You’ve got questions and we can’t wait to answer them.