Atlanta generates biggest gains for fixer-upper homes, expert says
ATLANTA, Ga. (CBS46) - Between bidding wars, low inventories and record-high interest rates, it’s no wonder 1 in 20 homes across the U.S. are fixer-uppers, houses that are often cheaper to buy but require more labor than the typical ready-to-move-in home.
Data from StorageCafe found that fixer-uppers are 32% cheaper on average than standard homes, resulting in a median savings of $155,000.
In Atlanta, the chance to save is even greater! Not only is the city one of the hottest real estate markets in the country, but the right fixer-upper purchase could result in a $300,000 discount, meaning buyers could pay as much as 55% less than the median price of a ready-to-move-in home.
Yardi Matrix Business Intelligence Manager Doug Ressler joined CBS46 to talk about finding the perfectly imperfect fixer-upper.
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