Challenged by the unrelentingly hot U.S. market, first-time and experienced buyers alike may find that the effort of fixing up a home can certainly pay off.
Buying a home that needs extensive remodeling can in fact fetch a handsome discount, but it depends a lot on where you’re looking to buy.
If Atlanta is on your radar for a more affordable home, you’re in the right place as there’s plenty of fixer-upper material on the local market. The city emerges as the 14th-best city for getting a fixer-upper.
These are the reasons Atlanta is such a great place to buy a fixer-upper:
- Fixer-uppers in Atlanta represent 8% of the existing homes for sale.
- The fixer-upper discount represents about 55% of the listing price, a more than hefty saving.
- In fact, buying a fixer-upper shaves approx. $300K off the price of a turnkey home here.
- In line with national trends, fixer-uppers are smaller than standard homes (1,356 sq. ft. on avg. vs. 2,178 sq. ft. on avg. in standard homes).
Storage Cafe used 11 key indicators of fixer-upper market potential. The ranking metrics rank from median purchase price to fixer-upper inventory and discounts, median home space and lot size for a fixer-upper as compared to a regular home.
Here are the best cities for shopping for a fixer: https://www.storagecafe.com/blog/best-cities-to-buy-a-fixer-upper/
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