Fixer-upper Defined

A Dwelling in Need of Repair

The definition of a a real estate fixer is a dwelling that is in need of repair work; remodeling, reconstruction, redecoration, or redesign although many times it can be livable just like it is.

They are in demand with purchasers who have a desire to increase the property's worth in order to obtain a return on their investment, or for practice commonly referred to as flipping, or for budget buyers, as a starter property . Television shows about home-improvement promoting do-it-yourself fixing have increased the popularity of fixer-uppers, although during a downturn in real-estate, and newer homes on the market at bargain prices, many times there is reduced attraction. Buyers lacking experience often underestimate the numerous and expense of repairs required to make a property saleable or even livable. Structural and serviceability concerns like foundations and plumbing, which may invisible at first glance, can involve professional and expensive contracted repairs In the book "Interchange Student's Book 3 Interchange Third Edition", author Jack C. Richards labels a fixer as a property on the market at a reduced price because it requires a many of repairs.

By Gene Wright, Wright Realtors

Jan 27, 2011

Buying Real Estate