Some renovations can significantly increase the market value of a home. Others can cost more than you’ll ever get back.
So, when choosing a “fixer-upper”, look carefully at the work that needs to be done.
General painting, and bathroom or kitchen renovations typically increase the resale value of a house. “Invisible” repairs such as plumbing, electrical, or heating systems do not.
Before you buy, work with your REALTOR® to develop a market value estimate of the house you are considering as though the renovations you’re contemplating are already complete.
If the math works, go for it. Buying a “fixer-upper” can be very rewarding.