Some people get giddy at the thought of rolling up their sleeves and improving a home for profit, but do they really know the savings of a typical fixer-upper home in their market?
- The national fixer-upper discount is 7.6 percent from the median priced home, which leaves just $11,000 as a renovation budget to break even.
- The largest incentive for fixer-upper homes is in San Francisco, where the fixer-upper discount is 9.4 percent, leaving homeowners $54,000 to make renovations.
- Homebuyers in Phoenix are better off not buying a fixer-upper home, which only saves 0.4 percent, leaving $1,000 for renovations.
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