The Housing Market Shift Sellers May Not Be Ready For Over the Next Six MonthsBy Kent Rodahaver, St. Petersburg REALTOR® and Broker/Owner of NextHome South PointeIf you're thinking about selling
5 Key Questions To Ask Yourself Before Buying A Fixer-Upper
Dated: May 30 2022
Views: 77
Buying a fixer-upper can be an extremely gratifying experience. Typically, fixer-uppers are priced more competitively than their move-in ready counterparts—plus, you get the opportunity to put your own spin on the house design during renovations.
But fixer-uppers aren’t for everyone—and before you buy a home that needs major work, you want to make sure it’s the right fit for you. According to a recent article from Realtor.com, there are five key questions you need to ask yourself before investing in a fixer-upper property, including:
What’s my motivation?
Fixer-uppers are a labor of love—and there’s a lot of labor involved. Before you buy a fixer-upper, it’s important to define your motivation, which can help carry you through the more challenging aspects of renovating a home. Are you looking to flip the home for a profit? Do you want to save money? Do you want to improve your DIY-skills? Whatever your motivation is for buying a fixer-upper, make sure you’re clear on it before you make the purchase.
Where am I going to live during renovations?
Depending on the condition of the fixer-upper, it might not be livable until well into the renovation process—so it’s important to have an alternate living situation lined up until your fixer-upper is move-in ready.
What’s my renovation budget?
Fixer-uppers may be more competitively priced—but you’ll need a hefty renovation budget to transform it into your dream home. Make sure you price out how much everything is going to cost before you decide whether a fixer-upper is the right investment for you.
How am I going to pay for renovations?
Understanding how much renovations are going to cost is the first step—and understanding where that money is going to come from is the next step. Make sure you have the budget you need in hand (whether that’s cash, a loan, or another capital source) before you buy a fixer-upper.
Am I prepared to manage this project?
Fixer-uppers take a lot of time and energy to renovate—so before you purchase a fixer-upper home, make sure you have the bandwidth to take on the project.
Final Thoughts
For the right person, a fixer-upper can be a great real estate investment. Make sure you ask yourself the right questions before deciding if one is the right investment for you.
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All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Updated on September 13, 2026 5:55 PM UTC
