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State Wide Answers: What's A Fixer Upper?

By
Real Estate Broker/Owner with State Wide Realty Co. 0225108792

State Wide Answers: What's A Fixer Upper?

There's an old saying that one man's trash is another man's treasure, the same could be said about the condition and "fixing" a home needs. The term "fixer upper" has a broad definition these days to mean anything from structural repair to changing of paint color. Who would have thought that there would be a time when a home on the market for a million dollars would be considered a "fixer upper"? 

In general, a fixer upper is a home that needs work to update key components such as electrical, plumbing, foundation, walls etc. to meet the new codes and regulations or to restore to good repair. In other cases the term fixer upper is used to mean updating of "cosmetic" issues like paint, light fixtures, countertops to match your desired taste and style. 

There are numerous shows depicting the ups and downs of "fixing up" a home and ultimately like anything you do, you get out of it what you put into it. The pros of choosing a home that needs to be fixed up is to allow an individual to be able to purchase more home for the money and then "customize it" how they would like with the money they saved on the listing price. The cons are that there may be hidden problems that are costly such as plumbing and electrical issues you couldn't see during home inspection that now will cost a lot to fix properly. The best advice is to allot for surprises and then some when choosing to renovate/fix up a property and always make sure the work is done by a licensed and reputable person. 

In conclusion, I hope that this clarifies the meaning of this designation that is given to properties all the time now and how a million dollar home is a fixer upper in a different way than an unmaintained home. 

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311 East Third St
Farmville, VA 23901
434-392-6163
www.VaStateWideRealty.com

 

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Michael Elliott
Fathom Realty - Burlington Township, NJ
Burlington, New Jersey Residential Sales

This is a great post, I want to buy a fixer upper in my market in 2024 !

May 03, 2024 08:53 AM
Kathy Streib
Cypress, TX
Home Stager/Redesign

Hi Larry- Fixer-upper is such a broad statement. Images of a house that needs a lot of work to one that  needs only some paint and new flooring come to mind.  

May 03, 2024 05:30 PM
Kathy Streib
Cypress, TX
Home Stager/Redesign

May 04, 2024 06:54 PM
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Hello Larry - I think the real industry can claim some credit for the term "fixer upper".  It's used in many sorts of situations - from spouses and anyone significant in our lives to anything that is in need of some TLC.  And, of course, the definition can vary a lot.  

May 05, 2024 05:59 AM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good morning Larry Atkins ,

I'm so glad that Kathy Streib featured your post in her Sunday series. I hadn't been following you but that has been corrected now. I like your post explaining what a Fixer-Up is! Really solid points you have made.

May 05, 2024 08:06 AM