With the prices of houses that break records and mortgage rates showing no sign of decline anytime soon, many house hunters cannot afford the type of house worthy of HGTV which has become the new standard for a generation of house buyers.
This is why more people are looking for an ugly caneton – or what is commonly called a “fixer”.
Realtor.com said that in July, the number of pages for research with “fixative-subsidor” in the description tripled with four years earlier. Nowadays, less than perfect houses seem to gain popularity when buyers are looking for ways to strengthen their purchasing power and avoid what remains a highly competitive real estate market.
With the recent increase in interest in fixing-ups, Realtor.com said that the median market time for one in July was 53 days. It is only a few days more than a house comparable to the house. But in areas where there are more interested buyers than sellers, even houses that need TLC have become hot goods.
This is true for Caleb Polson and Jessica Lang, who recently paid a little more than the requested price of $ 399,000 for a modern house in the middle of the century in Bloomington. The 3,400 square feet house, built in 1974, had been in the same family for decades. It is on a highly wooded bluff field with more than an acre of land overlooking the Minnesota river.
But he needs in -depth updates. Here are some tips on how to approach a renovation project at home.
This is how Eric Schneider, the agent selling the Bloomington house, described it in the list:
“It is not a turnkey property. It is an invitation to dream. At the price accordingly, it offers a convincing opportunity to someone passionate, creativity and an eye for architecture to reinvent something really special.”
