The Pros and Cons of Buying a Fixer-Upper

The easiest way to find fixer-upper homes is to work with a Real Estate Agent . An agent or REALTOR® has inner knowledge and connections that can help you find just what you’re looking for. In addition, they can access the many listing and find homes that aren’t publicly listed yet.

If you’re looking for the right fit, our friends at Rocket Homes. can match you with one of their Verified Partner Agents who can align with your goals as well as your budget to help you find the home you can make your own. You also have the option to attend an auction and buy a forclosed Home as a fixer-upper. However, purchasing a foreclosure at an auction means you’ll buy the house as is, which can be financially risky. If your heart is set on purchasing a fixer-upper, a verified approval through Rocket Mortgage can help your offer stand out. A lower purchase price :Fixer-uppers cost less per square foot than move-in ready homes, which can mean both your down payment and your monthly payment are lower. In turn, this "makes it easier to afford a home, or to get a bigger house than your budget would allow otherwise."

Fixer-upper properties may require attention, but you get to choose how to renovate the home to best suit your style and function.If you’re buying a fixer-upper, you may want to consider a renovation loan. Pay extra attention to your budget with buying a fixer-upper; repair costs can add up.