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Fixer-Uppers Gain Popularity With 1st-Time Buyers
Dated: April 18 2023
Views: 144
The appeal of a turnkey home is obvious. After all, buying a house that doesn't require much, if any, work is a dream come true for most home buyers. But while a move-in house ready has apparent benefits, fixer-uppers have advantages too – and today's first-time buyers have noticed. In fact, according to one new survey, 59 percent of first-time buyers say they want to find a fixer-upper or starter home. But it's not because younger buyers happen to have an abundance of home improvement skills.
The reason first-time buyers are looking at fixer-uppers has more to do with finances and the challenges of today's housing market. The survey found more than 30 percent of first-time buyers who say they want to buy a fixer-upper say it's because they're looking for a more affordable option – while 52 percent say current market conditions have impacted their decision. In other words, first-time home buyers are looking at fixer-uppers as a more affordable path to homeownership in a still-challenging housing market.
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