黑料吃瓜网 has some of the highest rates of fixer-upper homes for sale in the country. found 黑料吃瓜网 is the seventh in the nation for the most fixer-uppers.
Nearly 8% of single-family homes for sale in 黑料吃瓜网 are more than 20-years-old and marketed as fixer-uppers. Realtors use phrases like, 鈥渂ring your imagination to this home,鈥� or 鈥渞oll up your sleeves,鈥� according to Joel Berner, who worked on the study.
The findings are not surprising given the age of 黑料吃瓜网 and much of its housing, Berner said.
鈥満诹铣怨贤�, being on the eastern seaboard and an older part of the country with older homes, we saw quite a few there that were ripe for fixer upper activity,鈥� Berner said.
Generally, older homes in need of repairs are appealing to potential buyers. This is due to the affordability and the return on investment. But, Berner said that isn鈥檛 the case in 黑料吃瓜网.
鈥淭he 黑料吃瓜网 metros don't rank so well in terms of the discount, just because property values are so high,鈥� Berner said. 鈥淓ven buying a home that needs a lot of work is still pretty expensive in 黑料吃瓜网, so there's not quite as much room for profit.鈥�
Despite the homes鈥� ages, fixer-uppers in 黑料吃瓜网 are still some of the most expensive in the nation, due to 黑料吃瓜网's expensive cost of living and inflation.
The average cost for a fixer-upper in 黑料吃瓜网 is more than $320,000, compared to the lowest fixer-upper cost in West Virginia, which is slightly more than $89,000.
Hawaii was an outlier, with the most expensive median fixer-upper listing price of nearly $800,000. Most median listing prices for fixer-uppers nationwide range from about $100,000 to $250,000, leaving 黑料吃瓜网 on the higher end.
The biggest challenge with fixer-uppers are hidden issues, Eddie Prchal, co-founder of Gunner Roofing in Stamford, said.
鈥淲e'll rip off a whole siding, and people won't even have plywood underneath it, which, if you know the construction world, that's a big, big deal, or you'll see structural issues,鈥� Prchal said. 鈥淛ust a lot of those things that haven't been taken care of that you can't tell until you get in a project.鈥�
Additionally, 黑料吃瓜网鈥檚 four-season climate plays a role in home longevity, Prchal said.
鈥淲ith us getting so much weather too, and our weather so all over the place鈥� Prchal said. 鈥淚t does a lot to the homes to kind of speed up that aging process.
Still, fixer uppers are still worth the investment, Prchal said, but buyers should make sure they do an inspection and know what they鈥檙e getting into.
