Buying a fixer-upper can be a smart move — or a money pit — depending on your goals, budget, and skillset.
✔️ Pros:
- Lower purchase price: Fixer-uppers usually cost less per square foot.
- Customization: You can renovate to your taste and standards.
- Equity growth potential: Improvements may increase property value quickly.
- Less competition: These homes attract fewer buyers, creating room for negotiation.
❌ Cons:
- Renovation costs: Materials and labor can be unpredictable.
- Permit delays: Remodeling often requires permits that slow down progress.
- Hidden problems: Issues like mold, foundation cracks, or bad wiring may not surface until demo begins.
- Financing challenges: Some homes may not qualify for traditional mortgages.
Fixer-uppers can be great investment opportunities — just make sure you go in with a plan, a budget, and a trustworthy contractor.
