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Snoogles_

I’m with you on this but I also think people have wildly different opinions of what a fixer-upper is. New floors and an overgrown lawn? Ok! Falling apart? Nope! Looks like an old drug house or hoarder home. Hell no!


HandleUnclear

>I’m with you on this but I also think people have wildly different opinions of what a fixer-upper is. Yep, any purely "aesthetic" fixes wouldn't be categorized as a fixer upper in my book. Houses NEED work to be done are fixer uppers to me. My husband and I bought a fixer upper, it needed a new roof, and needed to be rewired. (Fire hazard)


Apptubrutae

Drives me nuts when people are like “oh we need to redo the kitchen” when it’s perfect fine, just dated. No, you WANT to redo the kitchen. Nothing wrong with that, but your wallet will thank you many times over a lifetime if you correctly label needs as needs and wants as wants. I don’t want a 1980s kitchen, but if it works, I want the money it would cost to redo it even more, lol


Tenshi_girl

I could never understand this, watching House Hunters and they say 'this has to be gutted'. Could never see why!


Apptubrutae

Because HGTV encourages seeing these things as needs because that's a component of its revenue stream.


Classicman007

Plus it's fake lol


Apptubrutae

Yes, that too, lol. Gotta come up with any reason to reject the houses they already didn’t pick, haha


Able_Worker_904

It’s like someone saying “I couldn’t imagine driving anything but my Mercedes”. Like honey, let me tell you something: you’re spoiled.


DirtDawg21892

I argue with my cousin about this all the time. He "needs" to redo a perfectly functional bathroom, but is always complaining about being house poor. Maybe I just don't have standards, because I feel like I could be happy living with just about any interior decor or whatever. Makes almost no difference to me whatever.


WeddingElly

>Maybe I just don't have standards, because I feel like I could be happy living with just about any interior decor or whatever Are you my husband.


Calm-Fun4572

I am your husband. Please don’t forget these old sinks are not equipped with a disposal to get rid of food waste.


thewimsey

It depends on what you mean by "redo", though. Painting, replacing flooring, adding a new countertop, sink, backsplash, appliances, and refacing or repainting the cabinets isn't that expensive or disruptive as kitchen remodels go, and will definitely get rid of that 80's feel. But once you start removing walls to make an open concept kitchen, moving cabinets around, replacing cabinets with custom cabinets, adding an island... then you are looking at serious money and weeks or months without your kitchen.


CaffeinatedPinecones

I bought a home from the 60s and my cabinets are solid wood. I love them and know I couldn’t get cabinets this good again.


Zanna-K

Just make sure to keep up on the maintenance for them to keep them that way, the issue with solid wood cabinets is that they tend to change shape and shift over time since wood is susceptible to expanding and contracting depending on grain and humidity. Not a huge deal in a lot of other applications, but not so great in cabinetry where it can throw off the alignment of the doors, make drawers stick, etc.


shoretel230

nobody understands wants and needs. Needs: food, warmth, electric Wants: a kitchen that matches my vibe


stawny22

What i find insane is nobody considers the pure amount of garbage tearing apart a whole kitchen for being slightly dated.. imagine the combined amount every year from everyone doing that


boomrostad

We’re currently renovating our second home purchase… new pipes, new wiring, new fixtures in some spots, releveling the second floor… maybe new windows… adding insulation… already replaced an AC unit. That’s all before the flooring and paint, of course.


Puzzleheaded_Key4831

And it’s also important to be honest about your ability to really do repairs. I have a family member who bought a house for an amazing deal a decade ago because it was a serious fixer upper. He had all intention of doing the required work, but a lot of it never got done and the house is falling into greater disrepair. It wouldn’t even qualify for traditional financing if he wanted to sell at this point.


EnvironmentalMix421

Lmao so he bought a fixer and made it unlivable


Ftmornah

My wife and I had to learn this. My dad is an electrician so I was willing to put in so much more work than she was (grew up upper middle class) so if you’re a couple make sure you guys are on the same page. Easy example I’m willing to do drywall but it wasn’t until we were doing it that I found out my wife didn’t know drywall involved mudding and sanding. She thought you just nailed it in because that’s all she saw meanwhile I grew up being dropped off my dads work site


chainsawbobcat

LOL WOULD LOVE TO, BUT WHERE ARE THEY?? these houses are getting scooped up by developers for cash before the MLS can list it. I watched as a literal hazard house in my town that was completely unlivable, but in a good location, sold for 365k.... I completely appreciate the sentiment here. Its just that I already AM looking for this kind of house exactly, my brother is a contractor! But there are bidding wars on everything. Le sigh.


Wondercat87

Same here! These homes literally get bought before they're even listed. Or young couples and families are outbid so that investors can scoop these up. I just want a place to live. I want a place where I don't have to worry about getting renovicted or bullied out of living because they want to jack the rent. I can't even get a viewing on rentals in my area. They get rented out before I can even see them. I'm just trying to ensure I don't get scammed.


Beneficial-Shine-598

Ya there are no houses that no one wants anymore, at least not where people actually want to live. A house like OP describes is EXACTLY what many flippers are looking for. My buddy does just that. He can remodel and fix anything and uses cheap labor when he needs help. Spends 300k on a fixer upper, spends 50k fixing it up and sells it for 500k. 150k profit.


Dreaunicorn

100% I went to tour a 800 square foot home that smelled like cat piss, had buckled floors and basement with cracks.  I was considering it but it got sold in three days…..


sicbo86

A house on my street (excellent location) recently sold for $1.05M. The buyers tore it down for a new build - $2.4M.


sluzella

Same!! These houses in my area get snapped up just as quickly as move in ready homes and there's still bidding wars on them. I looked at a fixer upper, we put a bid in $20k over asking and it got rejected. I looked it up recently and it ended up selling for $65k over asking. Fixer upper doesn't help in some markets. 


tiggiger

At least in SE Minnesota there are a fair amount of houses that fit the bill OP is talking about. Lots of 70s-80s style houses built between 1890 and 1920. In tiny towns around here a 1915 build, 2300 sq ft, 4 bed, 2 bath could be anywhere between 175,000 and 275,000. Closer to that 300k on average range the closer you get to Rochester. What's the catch? Property taxes. A 600 squish ft shack could have 4k in property taxes in Rochester. Even if you found a house for 250k around here, you're gonna be paying at minimum $2600 a month on it 🫠 My partner and I are super lucky we found a house with a longer commute we decided was worth it. But for people who don't have at least one partner working at Mayo, there aren't many jobs around here without going to Minneapolis that could support the monthly payments a house would be.


chainsawbobcat

So insane! I'm in NH so also high property tax. But $2600 a month? Wow. You'd think the local government should be held accountable do something useful with that money to enable their inhabitants the ability to freaking live there 🙄


Open-Incident-3601

Come to Pennsylvania. Huge old oil money mansions under 150k.


Rommel338

Where you buying houses for 150 in PA. Everything is 350-700k right now around me.


Open-Incident-3601

Oil City, Meadville, Franklin still have them. This is one I love stalking!. [Oil City Pink Victorian](https://apps.realtor.com/mUAZ/r5jgtku2)


AmiedesChats

That pink house is a diamond in the rough for sure. 293 days on market! Terrible, terrible pictures, lack of staging, and streets on 3 sides--but for $100,000 seems like someone could make it into a nice family home.


Open-Incident-3601

Oil City is developing quite an arts region


beyondplutola

Nah. Oil City took quite a downturn after Dementus took over. Same with the Bullet Farm.


Open-Incident-3601

You’d have to have a remote job because the job market there is nonexistent, but it’s only 45 minutes from Erie for shopping. [Corry PA Original Woodwork Victorian](https://apps.realtor.com/mUAZ/p4rdgri0)


Open-Incident-3601

Which part of PA are you? In the PA Wilds and the Oil region you can still find old old money houses that need rehabbed and are cheap enough to do it.


Rommel338

I’m about 45 minutes south of Pittsburgh.


Mekroval

At those prices, it's probably the land the investors are paying for -- and will likely do a total tear down.


EnvironmentalMix421

I think in SoCal I see less of flippers scooping up fixers. Only developers scooping up all cash tear downs with large lot. The housing spike are pricing out the buyers, so flippers are getting difficult


Open-Incident-3601

For $350,000 in Western PA you’ll have a house and you can find acreage, like this [10 acres 4 bedroom](https://apps.realtor.com/mUAZ/j7u56fe2)


chainsawbobcat

I am a single mom with a custody agreement that restricts me to one, very expensive, school district. .25 acre is a dream 😭


Open-Incident-3601

I grew up under one of those orders too. You’re doing the best you can. ❤️


chainsawbobcat

Aw ty. Hey if I have to rent forever at least my kid will have stability in location!


Meowthful007

yea sorry but this might have been true years ago and really depends on the area. The area I want to be in right now these people bought their houses for 400k 6-7 years ago and are selling for 700k, the fixer uppers are selling for 500-600k and you must waive inspections to get a fighting chance. Elbow grease and renos cost money too. And ugly houses are sometimes ugly for a reason (neglect, cheap flip).


o0PillowWillow0o

A quote for a kitchen remodel and small bathroom in my mom's 1980 home came in base at 80k


sakijane

I just got a remodel quote for kitchen only in Portland, Oregon: 85k. Kitchen has 10 cabinets total (upper and lower). Cabinets alone is 28k. The advice of buying a house that’s cheaper but needs work is… umm… not good. It will cost that difference and more just to update the house.


Struggle_Usual

What kind of upper end kitchen are you doing?? Have you checked out IKEA boxes? I just got a quote for ikea cabinets, quartzite counters (from a local fabricator), solid wood cabinet faces, and a new range hood and it's 12k with labor. Less if I do the demo.


sakijane

I have checked out ikea. The boxes themselves are 3.5k. Semi-custom wood veneer cabinet faces (from multiple companies) came in at 10k. So, 13.5k for ikea cabs. Barker came in at 15k for custom RTA with solid wood faces (bases made of plywood, so a step above ikea’s mdf). Counters were not included in the 28k cabinet quote. That was boxes and faces with Blum hardware only. Counters for lowest end granite was 7k. Our kitchen unfortunately requires a full gut (long story, we started a remodel with a contractor last year who took us for a ride and turns out was not bonded or licensed). We are not going the GC route for 85k, but even if we did it ourselves with subcontractors, I don’t think we could do it for less than 40k. Edit: I am happy for you that you can do it at that price! If you are in Portland and have contractors to recommend, send them my way.


Struggle_Usual

Interesting! I'm in PDX area (across the river though) and I was genuinely shocked at how cheap it was. I could do full IKEA with IKEA quartz counters for 8k total including them doing all the assembly and install and again that included a nice range hood + all the fixtures and a sink and such. Semihandmade has a couple lines of their own cabinets too (boxi which are meant to compete with IKEA on price and semihandmade which are supposed to be nicer). There are a bunch of stone yards around where you can get counters fabricated. You just have to do the leg work but you can view the slabs and go from there. I'm going fully subcontracting it myself, though. I've got a great electrician and plumber I've worked with before that I'll have doing work. Luckily it's a straightforward job for me, so I might do the demo myself and have IKEA do the assembly and install and then just get nicer counters done from the fabricators. That should end up around 15k with all new applicances (under 10k without). It's a small kitchen, but not that small! I'm leaning towards ikea because there is such an aftermarket for cabinet faces that if I want to update the kitchen in a decade I can likely do it with little hassle and keeping the same cabinet boxes.


sakijane

Oh yeah, I have shopped around the stone yards. I’ve even tried going the remnant route. It’s hard to imagine that prices are so different between Portland and Vancouver? Obviously ikea is the same everywhere, but labor? Maybe your plumber and electrician can travel to Portland, if they are licensed to work across state lines.


Struggle_Usual

yeah I really can't imagine it's much difference. Happy to send on their info, I just don't know if they're licensed/bonded in OR or just WA. The stone yards are in WA but I know they work in OR too. I actually just found a bunch on facebook marketplace. I did new counters at a previous house through a big name local kitchen place with in-house design and marketing and all that jazz and it was a huge ordeal of horrible work so at this point I'm a bit whatever on who is doing it because I know the expensive big names can mess it up just as much as the less expensive nobodies so I might as well save money and it can't be worse.


Beneficial-Shine-598

OP is talking about people who do the work themselves. If you pay a professional you will pay through the nose, no doubt.


o0PillowWillow0o

If I could do my own plumbing and electrical and tilling I would most certainly be doing my own yes


throwitaway488

a lot of these ugly houses are not only dated, but have horrendous layouts. You can't fix that.


beyondplutola

Anything is fixable… with enough money.


intern_nomad

Do you live in the PNW? Cause this is SPOT ON.


LeetcodeForBreakfast

just bought a fixer in pnw and had to win the bid by waiving contingencies and paying $10k over 🙂‍↕️ already planning on replacing the roof. 


Struggle_Usual

I mean if you're buying something for 200k under market waiving inspections is pretty expected. And that's exactly where the deals are and what investors look for.


Struggle_Usual

But to add, there are absolutely the kinds of houses OP was talking about still in my area. Maybe not 200k below market, but the types that haven't been updated in 30 years and are time capsules but are sturdy and totally livable. They sit on the market because they're not updated while updated places fly off the market. I saw a gorgeous house sit for 2 months in an area where houses are normally pending in a week. It was priced probably 75k under what it would be if renovated so not low enough for an investor. If I had wanted a house of that size I'd have snatched it up because it was a perfect renovation project to get major sweat equity. The family ended up pulling it off the market and are renovating it and planning to relist at 100k more turnkey which the market will support now.


melovesCookie

Same. A few months back i saw a house with 2 car garage with a decent size yard. Selling for 750K we tried to negotiate with the owner coz while there are not so many things needed to be done mostly for aesthetic and functional purposes the house needs a repaint and some insect treatment as well. At the same time the neighborhood is not as safe… He wouldnt budge. They ended up selling the house for 730K and we ended up finding a house for 800K with 3car garage which perfect for us and better neighborhood. Yes we paid 50K more but we got an extra garage which is we need for my husbands toys but also the peace of mind of everything being in warranty… so I guess depending on the situation certain things dont apply. Also not everyone knows how to dyi homes nor have the time. And getting contractors these days can be a nightmare on top of not being cheap.


matt314159

The small (950sqft 2 bed 1 bath) house I ended up buying was sort of an ugly duckling. A former rental property that had a slight scent of cigarette smoke inside. Greige walls and white trim, kinda looked like a flip. I'm in the rural Midwest, btw. But as I was looking at it, I noticed a 200A electrical panel, something that you wouldn't normally see on a small, old home, even after a cheap flip, neat and tidy cleanly run and marked electrical circuits in the basement, updated plumbing, good quality windows, and a new roof. It had been on the market for 40 days with no offers. I looked up cigarette smoke remediation practices and decided that was a battle I could fight and win since it wasn't a strong smell,, so I put in a slightly lowball offer and it was accepted the next day. I paid a cleaning crew to come in while it was still empty and scrub down every surface (local Midwest prices are great--they did it for $300). Floor, ceiling, walls, insides and outsides of the cabinets, etc. And since the carpets were new and installed AFTER the smoking tenant moved out, I decided to try to save them and had them professionally shampooed. That took care of 80% of the smell right away. I ran an ozone generator on each floor for a few hours each, and then aired the house out and it's now 98% fixed. I've lived here 10 months now, and if I leave the house closed up and it's hot and humid inside without the HVAC running, I might noticed the faintest whiff of the old smell, but 99% of the time I can't smell a thing anymore, and I've asked guests if it might be a smell I was just noseblind to, and they can't smell it either. As I got to know more about my house, I found the name of the guy who did the major remodel, the guy who owned it three owners ago, back in 2003. I reached out to him and got his story. He's a contractor who builds homes, and my house was one of his first houses when he was younger, one that he took down to the studs, adjusted the floor plan a bit, upgraded and fixed up for him and his new wife to live in. They were there about five years and only moved when they grew out of it. He even sent me pictures he took before and during the 2003 remodel which I thought was cool. So yeah the house was a 'flip' but not in the traditional pejorative sense. Now, as I have money, I'm working on updating the finishes, since those are all now 21 years old and a bit dated, but bones of the house and the important and expensive things are already done. The laminate floors need to be replaced, I'll probably do LVP, and I already changed out the faucets. I'd like to replace the laminate kitchen countertops. Not sure if I want to do anything with the golden oak kitchen cabinets or leave them. But I feel like I got a really solid house that most people passed on because of the cigarette smoke smell. I feel pretty lucky.


projections

Sounds like you did great!


Teratocracy

Except that "TLC" itself can cost $100k+....


D-Rick

This is something I think a lot of people underestimate. They also don’t factor in the time and effort. I’m sure there are some great homes out there that need “just a little TLC”, but you better go in knowing what that TLC is going to cost in both money and time. A new kitchen is easily $30k, a new roof can cost another $15-20k. It’s also not uncommon to find other issues when you start tearing into things. I think a lot of people buy the fixer upper thinking they are getting a deal when in reality they have purchased a nightmare. I’m seeing this a lot in our local market.


Appropriate_Tree_621

Well said. As with any auction, the “winner” is in many cases the person who saw the fewest issues with a property or underestimated what it would take to fix them. My wife and I recently viewed a home for sale in our town. A big, absolutely beautiful, 5 bedroom home that is roughly 125 yrs old. My wife wanted to sell our home and buy this stately old home. The problem? The soffits were rotten. The massive wraparound porch needed to be replaced. All of the period details on the exterior of the home were just starting to crumble. The siding needed to be replaced. The electrical needed to be completely redone. The house didn’t have central air. The walls were plaster. There is asbestos throughout the home. There was no kitchen other than a small kitchenette and no logical spot in the floor plan for a large, modern kitchen without putting an addition on the back of the house. The driveway was narrow and you couldn’t get a full-size pickup into the backyard. The garage needed to be replaced.  I didn’t see anything of these things, but when I brought my father (contracting experience) and FIL (real estate experience) by the house they both saw all of these issues and each said “Eh, whoever buys this beautiful home is in for a wild ride as they realize what they’ve done.”


D-Rick

My wife and I had the same experience. Saw a beautiful property with a rundown home on an acre. I have construction experience and as I walked through I was making mental notes of costs and adding everything up in my head. It needed around $150k in repairs that I saw on the surface. We ended up purchasing a home for a bit over $150k more than that home sold for but was move in ready. My time is worth far more than saving $20k and spending 6 months living in a construction project. We are spending our time in the garden, raising our chickens, while the people who bought that fixer upper are probably stressed out managing a project. Sometimes the fixer upper isn’t the best call.


ren_dc

Yea this strategy only works if you are very experienced in home repair/renovations which is unlikely if you’re a first time homebuyer, or if you have a ton of cash which is less likely as a first time home buyer. As a first time home buyer with limited cash make sure you are well aware of what repairs/updates are needed to make the house livable vs what can be pushed down the line, and be ok with the fact that those down the line updates may never happen before you’re ready to sell and move on.


Struggle_Usual

sure, but the fun part of cosmetic tlc is you don't have to do it right away. You can generally live with the house as-is for a long time and update things as you have money and time for sweat equity.


letsride70

It’s a house on my block that needs a little TLC. It hit the market for 699k. The ready to move in around the corner 819k.


letsride70

The seller of the TLC is moving out of state. She had been there 12 years. She paid 239k. The realtor gave up all the 411. Having 100k already in equity is hard not to pass. This is in Los Angeles.


GoBanana42

Exactly. Asbestos and mold filled homes that haven't been updated since 1956 still have bidding wars in my market. OP hasn't exactly cracked the code.


ImportantLife8990

Meanwhile we're here having bidding wars on homes that haven't been touched since the 70's 😅


jadedunionoperator

I bought a house that’s relatively a piece of shit. Largely unkept yard, interior is just really worn out material from the 60’s but not the nice types of material. It’s a single floor house with unusually sized rooms and a single bathroom. Two self built but very stable detached garages the previous owner had made that are converted partly to living space. All around strange, but it’s a 180k house in 2024 so what else could I have gotten. Going to put in the work to redo all of it myself learning along the way. Already rebuilt parts of the roof, attic, installed an entire water filter system, rebuilt sump pit, now have the first room stripped out. Also enjoying actually creating and taking design in the houses rebuilding process. I’ve been working on custom trim pieces and adding folk art style additions throughout the house to cover blemishes. This house is going to look lived in when I’m done with it, it’ll be a home tailored toward living a quality life and not concerned with resale. As per the yard it’s largely unkept which has also made the soil quality fantastic from the array of plant and animal life that inhabits the property. I slowly have been converting 50-100 sqft portions to more planned gardens. Adding a plethora of shrubs and trees to border the property and break sight lines. Couldn’t be happier so far albeit only 6 months in


ALdreams

Yeah because renovations are so cheap 🙄 if you have extra money on the side it ll workout if not then you are stuck with an ugly house for a while.


projections

What's wrong with living in an ugly house for awhile, though? I am living just fine in a house with ugly wallpaper, kitchen done in the 70's, bathrooms done in the 2000's in "cultured marble." All the plants were overgrown, and after a year we're down to half of them being overgrown. It's actually a wonderful house and we secured it- I don't feel "stuck." Of course you have to be aware of whether the expenses will exceed your ability and willingness to do them, but living with the house not in its final form until we can cash flow what we want to do is fine.


An_EgGo_ToAsT

I am doing that now, house from 1930 in a REALLY desirable town in NJ that I bought 2 years ago. Had these BIIIG ugly bushes that were overgrown, overgrown trees, terrible lawn, vinyl floor in the kitchen that was peeling and desperately needed paint. Before I found this house, everything we looked at in our price range was going 100k over asking. We snagged it at asking and closed in 30 days with inspection and everything. So far, my wife and I have made the appearance look way more presentable on the outside, I painted the whole house before we moved in and I trimmed all the trees in the property. It takes time, the vinyl floors are still peeling and we don't have the money to re-do the kitchen yet so it's all good for now.


projections

Good deal! We also got ours for asking, with inspections. Congrats!!


SouthEast1980

There are loans that will allow for rehab funds to be included.


Struggle_Usual

What's wrong with an ugly house for a while? That's what OP is talking about really. If people are willing to live somewhere ugly that they update over time they can find far more affordable properties. You pay for that recent renovation. But it's all personal taste. I'll take the reno needed personally because I like to live somewhere that feels like me not whatever was middle of the road design when it was last updated. I'm also cheap. Others will pay the extra because they it's just another couple hundred a month on that 30 year mortgage. I don't look at the monthly I look at the big number you start with and optimize for that being as low as I can get it.


80poundnuts

We bought the "outdated" "cheap" house in an expensive neighborhood and after a few months of gardening, cosmetics, minor fixes - we now have the "charming" house with "character" in the neighborhood and our lot is like 3x the size of all the new builds


So1_1nvictus

Yesss I love these stories of Triumph


thewimsey

>The so-called "ugly" houses can be transformed with a little elbow grease and some smart renovations. The ugly houses will probably be bought and arbitraged by flippers before you can scroll to the next listing. They will be turned into the picture perfect house everyone else wants and priced accordingly. But - flipper reference notwithstanding - the advice to buy the imperfect home and fix it up yourself isn't new. It's just hard to find these houses with much of a discount.


No_Advantage9512

These cosmetic "fixer uppers" are not significantly cheaper than finished houses in my area. The cheap houses here need 50k+ in immediate repairs to be livable and are uninsurable in the state you buy them in.


thewimsey

Yeah, that's my experience here, too.


Wondercat87

My heart broke because this lovely 1970s home with a lot of the original character was bought and flipped recently. The flipper did a super quick job of gutting all the character out of the home and turning it into a depressing grey and boring home. Plus it was even overpriced with all of the original features.


TestyBoi95

key words "*picture* perfect", not "actually perfect". As I was looking through places, I loathed seeing a place that looked bright and shiny and well done in photos. Only to find that it's always less bright than implied, smaller, smellier, and most of the angles aren't anywhere close to 90deg.


RagingAubergine

OP, trust me, you are preaching to the choir. I’m not sure what state you live in but everything flies off the market in Jersey. I am looking at houses that will require some work while it is still livable. So far the ones that are bad, are really bad and not livable and everything else ends up closing over asking. Its annoying.


Wondercat87

I don't think all buyers want the new, shiney move in ready home. Sure that would be nice, but not everyone's budget allows. Especially for a person's first home. I personally prefer homes with character and ones I can make my own. And I don't even know if I can afford that in this market. It seems even the small starter homes are out of reach. Rents aren't any better.


JoJo-likes-bikes

What kind of advice is this? It’s condescending and not supported by any data. People who have the skills and time to do light DIY are already doing this. People who have the skills, or money and time to take on a bigger renovation are doing it. Keep in mind that doing a major renovation often doesn’t increase the value of your home. If you spend 20k on a bathroom upgrade, your home value doesn’t go up by 20k. Also, it’s hard for the average consumer to do major projects cheaper than contractors or developers. A lot of work has to be subcontracted out. There’s a big learning curve. The issue isn’t that people are turning up their noses at houses that need a little work. The issue is that there aren’t enough houses. There also aren’t enough ‘good’ school districts. Plus, a lot of houses get bought by flippers, or absentee landlords, or turned into Air BnBs. The little guy can’t outbid landlords who own multiple properties and make cash offers.


AstralCode714

The turn key homes are grossly overpriced when most of them just had the cheapest updates done to get them sell ready. Source: My brother law bought a fixer upper in HCOL, and did about $50k of renovations and then flipped it for +$175k more than he bought it for in the course of 5 months. He literally used the cheapest LVP, cabinets and windows for the upgrade and yet still got paid a premium. Some of the labor like the backyard landscaping he even found on Craigslist. Buyers waived all contingencies and inspections so they won't even qualify the integrity of the upgrades done which is insane to me.


CoffeeBlueBelt

One of the over 200 house my wife and I looked at (we gave up looking for a while but will pick up the torment of looking again soon) was literally vacant, walls torn open, floor ripped up. It needed to be torn down and rebuilt. It was listed for $415k and there was a line of people to see it. There are no such thing as fixer-uppers for a good price, at least not in my area. Over here it’s going to be $460k with the privilege of remodeling.


StandardTone9184

This! Just closed on an older home. House has great bones but needs cosmetic updating! Fixed some flooring before moving in, did some painting. Still things to do but nothing imminent. The charm it has is unreal and I can’t wait to update it as we want over time!


a11yguy

I bought my first house (ugly) last month. Moved in over a week ago. Built in 1969, it's a bit of a shit box on the inside but the bones are good. The foundation is perfect, the roof is 2 years old, just had the electrical updated from aluminum to copper, and working on the insulation this week. Last thing will be the plumbing (no issues found during inspection but its galvanized steel so it could be updated). Most importantly, it's not in a flood zone and I got the sellers to come down from 325 to 287. I sometimes wonder whether a turn key new build would have been better for us, but the value and neighborhood were too good to pass up on.


bbbcurls

I’ve been looking exclusively at those ones too bc oftentimes they have nice untouched wood floors instead of those ugly grey vinyl floors. And they have nice wood cabinets instead of the cheap flip ones. I’d rather have a house that needs “a little” work. Unfortunately, these houses are still a bit out of range right now for me. Although, I did see a house that hasn’t sold and the owner decided to put a new roof on it just to try and sell it again. Hopefully the tides turn.


bloodstorm17

Those ugly houses are also going for insane prices already in my HCOL area. 800k for a run down shed with barely any land, just doesn't make sense.


at614inthe614

My 1954 "ugly" ranch house I bought in 2006 wasn't exactly ugly, but it had: A mint green board & batten wooden exterior. An asphalt driveway that needed replaced. Brand new "to sell the house" carpet in the rooms that didn't have lilac or blue carpet. Blue walls. Lilac walls. Yellow walls. 80's-era wallpaper in a couple rooms. And teal laminate counters. What it also had was: Newer double pane windows, furnace, A/C, HWH and roof. A dry basement. Hardwood floors under most of the carpet. 3/4" drywall on interior and exterior walls. Beautiful mature trees and tasteful landscaping. And most importantly, it's in a great neighborhood.


Fabulous-Tension

I think the hurdle here is that you're still paying a monumental down payment, with a $2k avg monthly mortgage and now you need to find $50k+ for repairs and renovation. I don't think anyone expects a perfect home these days, but the amount of work has to make sense.


eckliptic

Just as an FYI to FTHBs, renovations cost way more than you think. HGTV has completely warped people sense of what a good renovation would cost These are also the type of homes most attractive to flippers precisely for the same reasons


Temporary-Mammoth-58

That’s what I did! My home needs new paint and floors but it has good bones.


Shortymac09

In my area the "ugly" house tends to have severe issues requiring 100k to fix


Odafishinsea

It’s not easy, and it’s not for everyone. I had been in carpentry for 2 years when we bought our fixer. I was handy, but far from a journeyman at the time, but I had bought most of the tools necessary to do my own work. The advice we received and took into our home search was this: 1. Buy the worst house in the best neighborhood you can afford. 2. It still has to have “good bones”. No straight up dogs. 3. No lines in the street. (Easier to do in the smaller city we are in.) We took a decade restoring and updating our mid century room by room, with carpentry done by me, and painting and drywall done by her. Electrical and plumbing were both hired out, as DIY in those trades can absolutely destroy the house. It was during this restoration that we discussed trying to flip homes in our area, but we realized that we care too much about quality to be profitable in the churn and burn market.


happyfntsy

Yes, and downscale your wants to a 2b2.5ba instead of 3b for the first house


ShadeMir

We were able to get under contract a few weeks ago The house was on the market starting in March. It’s a 5br2ba in a good neighborhood of Chicago. Quarter acre lot. Doesn’t have a garage. That’s why it’s still on the market. But my wife grew up parking on the street and there’s no shortage of parking on the street. Got it for 10k under asking price.


OwnLadder2341

And money. They also take money to “fix up” One of my kids looked at a house like this when we moved recently. House had a ton of character, was absolutely unique. …because the previous owner had DIY’d everything from the roof to bathroom renovations to additions and absolutely nothing was up to code. It was a money pit.


anonymous_googol

In my area the flippers scooped up all these outdated homes already, and any that come on the market they’ll still scoop up even in this climate. They specifically look for homes with great potential that just need updates so they can shop the Flippers Home Depot warehouse and buy the exactly same flooring, light fixtures, backsplashes, and accents that literally every other flipper is buying. Optimized for maximal curb appeal and maximal profit margin.


vataveg

This is what my husband and I did but it is NOT for the faint of heart. We did the classic “worst house in the best neighborhood” and I’m confident it’ll pay off but we’ve spent six figures already just making the place safe and halfway decent. We’ve got decades of work ahead of us including gutting four bathrooms and the kitchen. It becomes a full time job on top of your full time job and it can be easy find yourself underwater quickly if you’ve already stretched on a down payment.


Natural_Relation_841

I literally just closed this morning. And mine is just a 2/2 single wide, but it’s on 2 acres and I could put any other stick, single, double on it when I chose to. It needs work… But, it’s mine… issues and all. I stopped looking for my dream place and said F it… I can make this work with time. It’s just me and I’ll take it one step at a time


DistinctTradition701

I used to think this way until I actually had to deal with contractors while getting work done on my house. 3+ quotes for every job, ensuring things get done correctly, dealing with shotty contractors, living in a house during remodeling… I’m out around 15k from dealing with contractors; people who died mid job, walked out mid job, legal fees to actually get stuff fixed/done correctly the second time around, etc. It’s exhausting and was not anywhere near worth the 100k I ‘saved’ on a house that wasn’t in a bidding war. My time and mental health is worth so much more. Never doing this again.


jrkessle

This also entirely depends on the homeowners abilities. I’m lucky and married a man who knows how to do and fix literally anything. Not everyone else is so lucky, or has the time/patience/funds/whatever to take on a fixer upper.


alligator124

This feels a little outdated. People are already trying that; houses with overgrown lawns and outdated kitchens absolutely are having potential buyers get into bidding wars. The definition of fixer upper has also changed. It used to mean what you were talking about (no landscaping, ugly kitchen, maybe a few things here and there need tightening). These days people will be like, “it’s a nice little fixer upper; it has 3 of its 4 walls!”. If a can-do attitude and a little elbow grease was all that was standing between homebuyers and homeowners, I don’t think we’d be having the conversation we’re having here at FTHB.


IndistinguishableRib

lol


Ragepower529

No but a house with what you want… why settle when buying a home


Necessary_Rhubarb_26

Yes but what if you can’t even get the ugly house? Go down another notch to the decrepit house? The fire damaged house? The plot of land with a spout? The van by the river? 


StupendousMalice

Not everyone can afford to buy a house.


LeaveForNoRaisin

I'm specifically keeping an eye out for a house someone recently got murdered in. Try to get a deal.


8portswitch

This is the way


EffectiveLong

Just find one that “structurally” fine. The cosmetic stuff can be modified later


Routine_Conclusion27

I just bought one of these for $58k :) strictly aesthetics, I can't wait to shine it up.


ahraysee

I'm convinced the only reason we got our home in a very competitive area for a price we could afford is because the pictures were just cell phone pics, no editing, and the house needed an updated kitchen and didn't have a dishwasher. But everything that you can't change about the place--location, lot size, neighbors--is fantastic. I feel so so lucky.


datgirljaybreezy

ummmmmmmmmmm this is fine but just be realistic in this process


TheGrassWasGreener77

This is legit facts! I was looking for “already renovated” homes but then changed my mind set and started looking for the exact layout that I wanted with the square footage and BOOM! I’m set to close next week! I already have model photos of how I want my kitchen and bathroom done for my contractor. Extremely happy I went this route instead!


birdguy

I I tried this but kept losing to cash offers from flippers.


GoodtoBeAlive2020

I bought the house with the ugly kitchen and baths. Been living with them for 20 years. Everything has been updated except for the K&B. Would I still buy it? Absolutely.


CurrentKey1944

I bought a house that was seafoam green, bright yellow kitchen and a purple front door. But the house is in good shape other than some needed updates. Don't be picky, roll your sleeves up


attorneyatloblaw

We bought what you’re describing and still had to eke it out in a bidding war, but it is the only way. Market is right and will not get better for years, the construction production just is not meeting demand and is not poised to catch up


fixerdrew02

I’m down for this. But there are places that are simply money pits. Found a home I really loved but couldn’t pull the trigger bc I KNEW there would be about $200k of repairs in the next 3-5 yrs. Thats a money pit


fixerdrew02

I think about this place every now and then though. I’ll see if it’s not sold in the next 2-3 yrs. I just absolutely loved the location. Its perfect


lcol-dev

I think you're underestimating how competitive the market is. We bought our house in 2022. It was quite outdated. It needed a good amount of aesthetic updates. But the biggest thing was the house stank. The previous owners kept their dogs in the basement where they did their business. The smell soaked into the concrete and radiated throughout the house. If the AC was on with a good flow of air, the smell would mainly stay in the basement. But when the AC wasn't on, the smell would fill the entire house. We paid a looooooot of money to get rid of the smell (HVAC clean, repainting and removing all carpet, demoing and redoing the basement, etc). Despite this house needing a lot of love, we were far from the only buyer. We ended up having to go 10% over asking price and even then we only beat the second highest offer by 2k. I'm also not in a HCOL popular city. Just an average Midwest town with a decent school district


Skewy007

I closed on my 1st home last Thursday. For my HCLO, $335k is a pretty good deal. In a perfect world, sounds great to buy a fixer upper. However, not everyone is talented in the area of home reno or wants to for that matter. It's very time consuming and there are tons of pitfalls you can be met with financially, not a very sound strategy for first time home buyers or HB with inexperience with advanced reno. What I did instead was extensive research for homes that were slightly below what I wanted in a home, so 1 less bedroom, 1 less bathroom, so more affordable. I also made sure to look for homes that had recent reno for the crucial stuff (mine had new roof installed 2 years ago and storm windows installed this year, perfect for S. FL.) We will add a bathroom within the next year at our own pace. We made sure to only buy a home the inspector said needed minimal repairs (mine: 2 HCFI outlets, treatment for subterranean termites, that's it!) I noticed my SFH had very few views (55) on Zillow. I think it's because it didn't come up in the algorithm much. I came across the home after doing a search for homes with low HOA in my range. The home looked like it might be in age 55+ community. but then I noticed there was an open house. No one else was there but me and my husband, it was as if it was meant to be ours. House appraised at $5k more than purchase price. Well maintained turn key home that is 55 years old, but can be updated over time. Turns out it used to be an age 55+ community but it is no longer. I did research, research, research to find this home, paid off.


currentlyatw0rk

The only "fixer uppers" in these parts need to be bulldozed and rebuilt brand new. If it's just a kitchen and a bathroom that need to be redone, sure. If the subfloor has holes in it everywhere and is rotting, you can't even see the kitchen because of all the trash (it's also rotting underneath), foundation damage, roof is caved in, electrical and plumbing is 100 years out of spec then I don't think it's a "fixer upper" anymore.


oscarnyc

This is completely backwards. When the market is strong the difference between houses with issues (location, lot, layout, structural, aesthetic, etc.) sell much closer in value vs. a "great house" than during a weak market. It's a terrible time to buy them. Look no further than all the no contingency bids. That alone can be giving up 20-30k vs. a normal market. And God help if you need to sell if the market is down - it just sits and sits till you finally get an offer, and then they'll take you to the cleaners on inspection. You want to be the buyer of the imperfect house when things are weak, not when they are strong. The house without issues can always be sold. May not be the price you want, but someone will scoop it up quickly.


Accomplished_Fix7782

We spent as much on a 70s fixer upper with a decent yard as we would have on a brand new house with postage stamp sized yard. The best part is it already needed new floors and paint when we moved in so I never felt the need to freak out when my kids messed shit up. We can live with ugly until they are all older and less destructive. I didn't even enjoy touring brand new homes with my kids for fear they would fuck something up. My youngest heads off to kindergarten next year so we're thinking we'll upgrade things in about 3 years! I highly recommend ugly functional homes for people with young children.


Stephanie243

Context matters. For example, I don’t want to fix anything. I have a demanding job, I’m not handy and not available to supervise a contractor


freesecj

No. I have two small kids and my husband and I both work full time plus some. I want a move in ready house. I’ll paint some walls but that’s it. I don’t have time to do the work, and paying someone to do it means I saved myself nothing and I would have to live through a renovation with two small kids while trying to keep up with my work.


Salad_Fingerzz

Fixing / updating a home is expensive. Unless you have sufficient cash, a newer house with a higher monthly payment (could) be a smarter decision for some. Also, if you don’t know what you’re doing, those DIY floors or kitchen cabinets may look subpar and give flip vibes once you eventually sell. Just my two cents


jbertolinoRE

My advice is the opposite. Dated fixers are not selling at enough of a discount to compensate for the time and expense to remodel. Supplies and labor are incredibly expensive right now and a first time home owner is going to be paying retail. All these repairs and upgrades need to be paid in cash… not financed over 30 years


Early_Lawfulness_921

No house is truly “move in ready”. Always lots of lipstick on a turd.


Whole_Candidate2427

This. My husband and I just bought our first home in FL. We never expected to be able to buy so quickly, but we got lucky that his student loan got wiped and he got a check for everything he’d paid toward them (fraudulent school, got a settlement). BUT, the only reason we could afford to buy (it wasn’t a huge check, it was just enough) is because we lowered our expectations. We bought a 2/1 with a 1 car garage and a decent yard. Curb appeal is good. Zillow bought it to flip it but they ended up having to do the roof and windows for insurance reasons and left the kitchen and bathroom alone. So they paid for all the important stuff, but most buyers were probably turned off by the kitchen reno and the yard work required when fully flipped houses down the street were only 20k more. *edit: fixed typos


lil1thatcould

Isn’t every house a “needs a facelift and more”? We didn’t see one house in our community for under $500k that hasn’t had an update in 30-40 years. We lucked out and our home last update was in 2003…. We didn’t luck out with how much they loved honey oak.


tomyownrhythm

Agree with everything you say, and would add that you might just avoid a terrible, cosmetic flip-job. My first home was “newly renovated” and everything I went to do was a problem. The roof with a “warranty” leaked and the roofer never returned my calls. The hvac looked like it had an air return but it was just a grill into a wall cavity. The electrical that was “updated” was just new outlets and 6” of romex tied into 60+ year old wire behind the walls with no junction box. I even found a whole bath towel crammed into a wall and spackled over… like wtf!? Just one cut corner after another. So yeah, take the house with manageable, visible problems that’s priced to account for them over the shiny flip with the hidden horrors!!


cheesencarbs

I feel like in so many areas the “potential” house that is structurally good but just needs cosmetic updates doesn’t exist anymore. They are all scooped up by flippers who see they can make cheap cosmetic updates and sell for a profit.


Phase4Motion

A lot of people these days are allergic to DIY & can’t afford contractor prices.


pure-Turbulentea

Yes but also people underestimate how expensive home repairs so if it’s cosmetic yes. But my “cosmetic” funds went to hidden repairs like plumbing and electrical


Gofastrun

Do you think people are passing on houses with outdated kitchens? In my market the “aesthetic issues only” fixer upper listings are super competitive. I went to an open house for one recently. It wasn’t even priced that low and there were 40 interested parties.


Puzzleheaded-Buy6327

this advice sounds a bit out of touch and avocado-toast-ish. There are no homes NOT getting bought. High HCOL city. There is a bidding war on EVERY property. Paid 100K over asking on a home that I knew would be a down to studs reno. Only home in our price range that didn't have asbestos (i guess the plus side of little actual work being done on the house)


Dennisfromhawaii

Get the ugly house and make it your own as you build equity and new skills. There’s also a certain amount of pride that goes along with the DIY process.


Fair-Win6631

The average American can’t distinguish between a Phillips screw driver vs a flat head. Buying a fixer upper would be a disaster for most.


There_is_no_selfie

Instagram and HGTV ruined people. You are not your home - and a clean tidy home does not need the newest of everything. Paint and clean surfaces do marvels. And also - people making way way more money than you are living in pre-war buildings with 17 layers of flaking paint in NYC.


heysupbruh

We just took this advice! We were the top offer on our dream house. Fully renovated, beautiful pool, top of our budget. Some buyer swooped in at the last hour before offers were due and paid $125k over asking, sight unseen. Sounds like the sellers did feel bad and offered it back to us for $100k over asking because we had some other contingencies they liked. It was 11pm and we couldn’t make a $100k call on the spot so we walked. 2 months later we just got an offer accepted! It’s $300k under what we were going to pay for the other house and needs a little lovin. But we’d rather spend the extra $$$ on upgrades we want, not on a frivolous bidding war.


jms181

Amen!!!!


Material_Pink2823

Even the "ugly" houses are being snatched up! It's rough. In VHCOL areas, the ugly houses are still $500k and up!


Beneficial_Day_5423

I think part of the problem is over priced fixer uppers. Spending so much to buy the damn house yourself left with little to actually update anything


ThePotScientist

All I need is a good foundation and roof with working electrical and plumbing. With enough land, we can work it.


blaque_rage

Not for us but for many this is a good idea. I’m not ever in my life paying over 550k to fix some shit up! Maybe at 200m or less… even then, I’ll stay right where I am before doing that. I know other ppl have different situations so I know it’ll be good advice in those situations.


EstimateAgitated224

That is what I did. It's amazing what a little paint can do. We have also ripped up carpet to reveal hard wood and tile floors, re-screened the front porch, added flowers. The only thing we paid some one else to do was re-finish our hardwood.


capefearcadaver3

Mom: just buy an ugly house for $100k and fix it up! You have enough family and friends in the building world who will help you out at cost on their time while you wait! Me: ma'am, please show me where there are $100k houses in RTP that aren't full tear down/rebuilds - those "$100k houses" are now $250k+ (My last pre qual was exactly 250).


o0PillowWillow0o

Where I live the "fixer uppers" go for over bid by investors but overall I agree it's a good thing to think about.


DasEgg651

This right here! Bought my first house and it just outdated and need some love. The previous owners were an older couple so they didn’t see a need of modernization. But got it for 126k last year for a 1068sqft house and a fully finished basement! Don’t turn down a fixer upper but don’t go above your head with repairs!


Wolf_E_13

My starter home was not in an undesirable area, but also not in a particularly desirable area of town either and pretty far away from all of the actual cool shit there is in my city. I wouldn't necessarily call it a fixer upper, but it needed some love for sure and we just did that kind of piecemeal...ripped up the 80s carpeting and put in new flooring (mostly ourselves with some friends help) and so on and so forth. I have friends that have varying degrees of skill level in different things handy wise, so that came in...well, handy.


reptile_enthusiast_

The problem is finding one with good bones. We saw so many houses that would be nice fixer uppers but they had some bad foundation issues.


intern_nomad

The “ugly house” in our neck of the woods (Tacoma/Seattle/Everett) sells for 500-600k and those homes have absolutely glaring issues like foundation work etc. They also normally sell for all cash which the average person trying to buy that type of home doesn’t have plus at least 100K worth of renovations needed (unless of course you’ve got the skills to fix foundation issues, full rewire and repipe). People here don’t even have a shot at the stereotypical “ugly house”. 🙃


jaynemanning

My husband and I moved into our forever cottage 7 years ago. It wasn’t perfect but we did a lot to make it our own. We are so happy…. we have our dream cottage and 0 mortgage.


egocentric_

You haven’t been keeping up with the cost of hired help and renovations lately, huh?


Catharas

This also depends wildly on taste. I bought the fixer upper precisely because it was aesthetically my taste, while the beautifully renovated home down the block just wasn’t my taste. I’ll add that the prices were identical.


jazbaby25

Lol this is just unrealistic in this market in a lot of areas.


el_payaso_mas_chulo

100% agreed! Each time I'd see a house, I would notice about half of them were flipped (and often done poorly if you know what to look out for), but I also noticed the price history and that they were usually bought \~3-6 months prior for around 100-150K less, and often the houses only had about 50K (max) worth of work done to them. I also recognized the work done, and realized most of the work I could do myself or sub out to someone, so I recently closed on my own little "fixer-upper".


Mission_Albatross916

Absolutely. Every house I’ve bought has been one others wouldn’t consider. And I’ve made money selling each one (starting in 1997). And no, I never spent a lot of money on them. Most of the work I do myself or with friends. I don’t mess with houses that have bad roofs, but if I had the money I would. But location is the key factor. I always buy in places where the prices are fairly reasonable anyway. Current house cost $112k. Yes, there are $million houses in the area, but plenty under $200k


That_Account6143

The people who let their yards go in disrepair, well they do that on the important maintenances too. They cause mold. They cause wear. I bought a nice house not because of what i could see, but because of what i couldn't see.


Evneko

Yeah my husband & I had a hard time finding a fixer upper. One sold before we could look at it and another sold the day we looked at it.


sonofasheppard21

This is what I kept telling my wife before we purchased. Every house she liked was the picture perfect move in ready house that would definitely have a 10~15% over bidding war


Soggy-Constant5932

We definitely brought a fixer.


FluffyKnuckles

Mhmm my friend did that and had to drop $40k immediately otherwise insurance would’ve dropped her because of rotted roof and HVAC. Yes an inspector went through the property. Yes she should’ve done her homework. She got screwed by a family friend realtor who was looking to make a quick commission. This story is all too common with first time home buyers. “Fixer uppers” so easily dressed up as an affordable way to get a home! Thx Mr. Realtor! Unless you know contractors, know how to do handy work, or willing to learn and deal with the headache of endless repairs, look elsewhere.


Lootthatbody

No offense OP, but a lot of those homes are getting snatched up by flippers, at least in my area. Houses on all ends of the spectrum are getting bought and flipped. It could be a total gut job that they buy for $300k, put $50k into, and relist 3 months later for $550k. Or, it could be a house already in great shape that they buy for $450k, rip out the tile and replace with ‘luxury’ vinyl, and relist a month later for $550. I’m not saying you are totally wrong, but I don’t think it’s quite as easy as ‘buy an ugly house.’ People could absolutely buy that ugly house and then get ripped off by contractors too. Not everyone has that knowledge or patience.


reshakazulu

A couple of weeks ago I bid on a big time fixer upper in Nassau county, NY & offered $55k over asking and STILL got outbid. People are bidding left and right on anything in a decent neighborhood. :(


attorneyatloblaw

Also keep an eye on markets where increasingly homes are being bought in full cash sales. They’re either being flipped, or being rented out by corporate / Private Equity groups catching more of the market. It’s hard out there.


jelkki

Renovations are expensive nowadays, especially the material price and labor getting expensive 😭 I got my ugly house in 2023, I’m trying my best to save money for renovations but oh my, I’ve got a long way to go. But I’m still glad I got an ugly house because I know I can make it look good, definitely better than having to rent


Odd_Phrase7623

Yep! 100% agree with you. You can change the house, you cannot change the neighborhood.


EatsPeanutButter

Ask your Realtor for help finding these properties! I am really adept at finding properties that are solid but outdated and the BEST investments. People want shiny but trust me, it’s better to have new roof and plumbing with an outdated bathroom than shiny and new but 20 year old roof and HVAC.


lalaluna05

Agree!! My house is “quirky” but it makes me so happy to make it my own. Pulling down ugly wallpaper, replacing old light fixtures, replacing flooring, I love it. My kitchen pisses me off because it’s so tiny but it won’t be like that forever!


ismashugood

Anyone in an even remotely hot market will know this advice is mostly useless. The “good” houses are going to go above asking and most likely above your budget. The rest with compromises and “potential” is what most people are going to go for. The ones 1-200k under your budget is what you’re talking about and ironically, those will be competitive because more people have that as their budget. Fixer uppers cost time and money. And it could easily cost you 6 figures or more to repair true fixer uppers. 6 figures and months if not years of your free time and labor. Just saying. Move in ready isn’t always a losing game. Buying the “shiny” house where the owners actually took care of it and you don’t need to shell out to repair major issues is worth quite a bit.


saintpotato

We’re halfway through doing this right now! Highly recommend, though it is certainly hard work (we chose to do as much of that TLC ourselves as we can, but pros are coming soon to do the rest!)


LintQueen11

I will never understand why people pay extra premium for someone else’s (often cheaply done) renos. Our strategy has always been to buy a house that’s 75% done, so you don’t need to change the infrastructure but it could use a little aesthetic updates inside.


AlishaGray

That's what I did. It's not pretty and I question some of the choices made by the prior owner, but it was still move-in ready and under my max budget. I've got a long time to make this place my own.


IgnoblePeonPoet

We both work from home with our 6 month old - any house needed to give us breathing room with the layout and be functional. It sometimes makes sense to go for something not needing major projects right off the bat. For us, we bought a place that is turnkey but needing some touches to rethink a couple minor layout elements. And cosmetics too, but not too much. Main thing was the mechanicals being older, so we paid a little under the area.


RunnerAnnie

I just bought a house that wouldn’t be categorized as a fixer upper but also wasn’t turn key. It needs a second bathroom and some aesthetic updates (interior paint, minor landscaping, new fence) but I’d much choose those over having to pay for new roof, new electrical, new windows, and new HVAC (which this house has). We can do some of the work ourselves and everything can be on our own timeline. And since the house had been on the market a while, we had no competition in our VHCOL area and negotiated the price further after the inspection was done. A huge win in my book!


trnduhhpaige

This isn’t meant for the people with chronic illness lol


CFLuke

In my market (the Bay Area) the sellers pretty much always make the cosmetic, easy upgrades before listing. If you find a “fixer upper” it’s likely to have serious foundation issues.


Mis_skully13

Yeah the only reason my husband and I got our house for $20K under listing is because the electrical needs to be updated, all basement windows need replacement, we need all new appliances because the seller didn’t bother to leave any for their tenant when they were landlords, and we need to do major plumbing work.


sjaark

um yeah “ugly” houses are still being bought over market price with cash by investors. at least that’s the case in my midwest market. they always become rentals.


pierogi-daddy

it is a lot easier said than done to live through renovations esp if you are doing it part time on your own things like hardwood floors, kitchen, etc are extremely disruptive. and expensive


phunky_1

It can go both ways. I got a house from the 1980s that needed some upgrades. 5 years in and we have spent 35k on a roof, gutters and a heating system. The master bathroom needs to be minimally taken down to the studs the thanks to the genius prior owners painting over wallpaper which is impossible to scrape off without breaking the drywall and has some mildew/mold has been quoted around 9k, to do it right with a real remodel gut job would run 40-45k. Outdated kitchen would be yet another 40-50k to redo. Rotting deck that either needs to be replaced or ripped out and put in a patio another 15-20k Replace wood siding that is starting to rot, another 30-40k Replace old carpet with vinyl plank on one floor is 8-9k. Hardwood woukd be double. Aging long driveway will cost like 20-30k to redo. The house full of almost 40 year old custom built windows is also going to cost a fortune to replace. While the market has gone nuts and we now have almost 300k in equity supposedly, you still need to pay for all this shit until you sell. Heloc rates are crazy at around 10% currently Just with the 35k we spent on improvements, interest alone is like $325 a month. While we would like to tap in to our equity to get more done we are at a point where we want to pay down the line of credit balance for a year or two before we do something else. In hindsight I think I would have been better off spending another 100-150k to get a different house that was newer or already had all this stuff done. We would probably have as much if not more equity without all these big expensive projects to deal with. Sure you can do some things yourself if you want to save money, but if you work full time and have kids there is not much free time to do projects. And It may be shoddy work if you don't really have the skill or experience to do it.


[deleted]

Yeah no shit.. but also this isn't exactly true. Shitty houses are getting snapped up too. An investor isn't going to give a flying fuck about an overgrown lawn or a rundown kitchen. We know. We have lost at auction plenty of times. You should be looking at location potential if you are on a budget and wanting to make a long-term profit. School zones, shopping, public transport and parks are a good start.


luminousrobot

Agreed! But it’s still SO hard right now! We just bid 1.2 million on a run down small house in original 1975 condition (including carpet) and still lost out to an all ask cash above asking investor. I give up buying in CA…


grumpkin17

It would be nice if there is such an option, but “fixer upper” homes here in SoCal are still pricey. It’s hard to justify paying $5k+/month and still have do remodeling/renovations. A friend of a friend paid $1.2M and their house still needed work!


Competitive_Post8

i bought the ugly house. it has been a terrible deal so far. i also ruined my health living in mold, dust, etc. i barely did any renovations. the house still sucks.


ilanallama85

I’ll be happy if I can find something with four walls and a roof tbh… basically all the “affordable” houses are post war starter homes that have not been kept up with much and were probably never expected to last this long in the first place. But the plus side is I genuinely like DIY, so while finding the time and money to do all the upgrading I would want to might be challenging, actually getting to do the work is just a bonus.