It’s true, but it can be costly and time-consuming. StorageCafe recently found that fixer-uppers sell for at least 25% less than typical turnkey homes in 36 of the 50 largest U.S. towns. In nine of those cities, the discount is over 50%. Maybe it’s time for you to get rid of those “Property Brothers” reruns. Analysts scanned StorageCafe’s real-estate platform, Point2, to find listings that were tagged with “TLC,” ‘good bones”, ‘as-is,” need of repairs, and other terms. A lower price doesn’t necessarily make a home more affordable. Los Angeles is one of the most expensive American cities. A typical fixer-upper comes with $500,000 off — the largest dollar amount among all 50 cities. The average list price drops to $899,000, which is still too high for many. San Diego and San Francisco were the next best cities in California, with each offering buyers a savings of at least $405,000. Baltimore was next at $107,500, followed by Milwaukee at $79,000. You still need to do the work. You still have to do the work.
Most Expensive
CITY
FIXER-UPPER LISTING PRICE
$1,299,499
$1,094,000
$899,000
$899,000
$799,000
$760,000
$712,450
$680,000
$600,000
$599,900
San Jose, Calif.
San Francisco
Los Angeles
Boston
Seattle
New York
Long Beach, Calif.
Washington
San Diego
Mesa, Ariz.
The cheapest
CITY
FIXER-UPPER LISTING PRICE
$59,900
$79,900
$107,500
$109,900
$129,000
$145,000
$150,000
$155,000
$156,900
$159,450
Detroit
Milwaukee
Baltimore
Memphis
Omaha
Philadelphia
Oklahoma City
Kansas City, Mo.
Tulsa, Okla.
New Orleans
Most Expensive
The cheapest
CITY
PRICE OF FIXER-UPPER LISTING
CITY
FIXER-UPPER LISTING PRICE
$59,900
$79,900
$107,500
$109,900
$129,000
$145,000
$150,000
$155,000
$156,900
$159,450
$1,299,499
$1,094,000
$899,000
$899,000
$799,000
$760,000
$712,450
$680,000
$600,000
$599,900
San Jose, Calif.
San Francisco
Los Angeles
Boston
Seattle
New York
Long Beach, Calif.
Washington
San Diego
Mesa, Ariz.
Detroit
Milwaukee
Baltimore
Memphis
Omaha
Philadelphia
Oklahoma City
Kansas City, Mo.
Tulsa, Okla.
New Orleans
Source: StorageCafeBy the New York Times Subscribe to receive weekly email updates about residential real estate news. Follow us on Twitter at @nytrealestate
