Atlanta generates biggest gains for fixer-upper homes, expert says

Finding affordable solutions include moving out of state, moving farther from family and...
Finding affordable solutions include moving out of state, moving farther from family and friends, buying a fixer-upper, moving farther from work, and moving to a less desirable area.(MGN)
Published: Aug. 17, 2022 at 12:18 PM EDT
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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.

WATCH THE FULL INTERVIEW HERE

For more information, click here.