Does Buying A Fixer Upper Pay Off?

Realistically, the majority of fixer-uppers are in complete disrepair, meaning that it will cost you more to “fix it up” than to purchase a home in move-in condition. However, if you are serious about buying a sound fixer-upper, let me give you a few tips on finding a sound fixer upper:

- Look in neighborhoods with resale potential
- Try to find a home that has been listed for sale for several months
- Always estimate your fix up costs before buying
- Avoid homes requiring structural improvements
- Avoid major additions, such as adding a family room or bedroom

The industry standard rule of thumb is to buy a fixer-upper for at least 20 to 30 percent below its “fixed-up” market value. It’s important to avoid both under-improving and over-improving a fixer-upper; in either situation you will not realize a good return on your investment.

If you’d like some help in finding fixer-upper property, please call me today.

To post a comment on this blog post, you must be an HAR Account subscriber, or a member of HAR. If you are an HAR Account subscriber or a member of HAR, please click here to sign in. If you would like to create an HAR Account account, please click here.

Disclaimer ↓

Join My Blog

The purpose of my blog is for me an Experienced Texas Realtor and Instructor to express my insights to buyers and sellers on today's real estate marke. I can also answer any questions or concerns with no obligation from the consumer.