Home prices may be down to where they were in 2002 and interest rates at their lowest in 2011, at an average 4.39% for a 30-year fixed mortgage. But for many who make the jump into home ownership for the first time, properties in triple-mint condition with pruned yards and top-of-the-line appliances are still too pricey.

So many first-time home buyers look to so-called fixer-uppers. A home that costs less than one in move-in condition and would require extensive renovations or repair to become livable. While shaving thousands of dollars off the cost of a property sounds appealing, though, a fixer-upper isn’t for just anybody. Many buyers underestimate the amount of time, money and labor that need to be put into transforming it into something fit for an HGTV dream home showcase.

Register at CreditSesame.com to get personalized mortgage rates that could save you money on a fixer-upper home loan.

There are many factors that go into determining whether or not a fixer-upper is right for you — and while the flowchart below may seem like a lighthearted way of tackling this serious question, it’s a good way to get started thinking about this important decision. Read on for the details.

Should You Buy A Fixer Upper?

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Published August 4, 2011 Updated: August 7, 2014
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7 responses to “Buying A Fixer-Upper? Here Are Some Things To Consider…”

  1. […] CreditSesame.com has a new flow chart to help you find out if a fixer home is really a good idea for you, or not.  With all the home improvement shows on television and the draw of supposedly low priced foreclosures, thinking through this chart may help you decide if a fixer is a good idea for you. […]

  2. […] by Coester Share Tweet -Credit Sesame […]

  3. […] : http://www.creditsesame.com/blog/should-you-buy-a-fixer-upper/ Share this:FacebookEmail Posted under D.I.Y,How To,Infographic,My Life and tagged with […]

  4. […] attached to a fixer-upper that looks like a great investment, check out Credit Sesame's little “Should You Buy a Fixer-Upper?” litmus test.  Then make an honest – and informed – […]

  5. […] and cons of owning rental housesHow Do We Find A Rental House?Rental house basement flooded?Should You Buy a Fixer-Upper? body { background-image: […]

  6. […] See the original graphic at credit sesame. […]

  7. […] condition with pruned yards are still too expensive. This infographic done by Columnfivemedia with Credit Sesame, is a good way to get started thinking about if a fixer-upper is right for […]

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