Is a Fixer-Upper Right for YOU?

You cant go a day without hearing an ad on the radio or seeing something on TV about mortgage rates being at their lowest in over a decade (which they are) and how now is the time to buy (which it very well might be).  But one thing that is for certain is that many of the homes on the market are not in mint condition and many of the buyers are first time homeowners making the jump from renting to owning due to the low rates and reasonable prices.

This leads to the awesome infographic I found from Credit Sesame. While comical, you can see the point here; saving thousands on the house might sound great, but in reality what is your blood, sweat, tears and time worth to you in the longrun?

CreditSesame_FixerUpper

Edgar @ Degrees and Debt

AuthorEdgar @ Degrees and Debt

Founder of Degrees and Debt. Edgar just wrapped up his MS in Project Management with a focus on Information Security Management. Battling back to even from student loans, mortgage and credit card debt is an art Edgar is learning to master. This is his journey.

5 thoughts on “Is a Fixer-Upper Right for YOU?

  1. Fun infographic. I’m definitely not into a haunted house or a house with mold, even if it’s a great price and could be flipped easily.

    • @StudentDebtSurvivor¬†Agreed! I am a Realtor so I see just about everything here and there and sometimes I wonder what people are thinking, but I guess if it works out in the end and everyone is happy (and safe, when it comes to mold) then all is well.

  2. TacklingOurDebt

    Great infographic! In 2006 we thought that we wanted to become house flippers, so we started looking at different homes. Many were run down, one was an ex grow op, and we started to really talk about how much work and money we would need to do to renovate them. After putting a lot of thought into it we decided it wasn’t for us.

    • @TacklingOurDebt¬†Based on the year you gave, 2006, that was probably one of the best decisions you made. I can only imagine how terrible it would have been if you bought properties on those inflated prices and bank faults to have them drastically drop in 2008ish.

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