BiggerPockets

Fixer-Uppers Ripe on the Housing Market

Monday, February 08

Trends among many home buyers these days appear to be with fixer-uppers.  Instead of looking for the traditional perfect home, some buyers are actually choosing homes that need a little work.

Buying a fixer-upper allows you to purchase it well below market value and add your own personal stamp to it.  However, in some markets, fixer-uppers can be hard to find.  With huge price declines, house flippers quickly grab these homes up, renovate them and turn them around for a profitable sale.

With thorough research or the help of a professional real estate agent, you can find fixer-uppers priced several thousands to hundreds of thousands of dollars below market value.  Your goal is to find a $300,000 property and only pay $150,000 for it or buy a $150,000 property and only pay $75,000 for it.  You get the picture here.

You will then be able to renovate the home to your liking, adding your personal touch, which can save you thousands of dollars.  And saving money on real estate is great these days.

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