Homeownership is a big part of the American dream, but a move-in-ready home might not be in everyone’s budget. Enter a beautiful fixer-upper!

This is the reality of more than half of the homebuying population, who said they’d be willing to buy a fixer-upper. Some cities are better right now than others when it comes to finding such options, including  Detroit.

So, how can you decide if a fixer-upper is right for you? Here’s a list of pros and cons. 



  1. A lower purchase price: You will need to plan to spend some money renovating, but a fixer-upper will have a lower list price and down payment. 
  2. Less competition: Especially now, with housing inventory being low in many places, it may be easier to find a fixer-upper and not have to make decisions as quickly as the competitive market may force you to do so for a new build. 
  3. The chance to customize your home: You have the freedom to do whatever you want to with your new home while you make each room into the room of your dreams.
  4. Quality control: As you renovate, you can choose the materials, contractor and everything else!



  1. Expensive renovations: If the home needs a lot of work, it may not be such a deal.
  2. Difficult budgeting: While you can estimate your costs, remember surprise costs and delays always seem to appear when you least expect them.
  3. Unexpected issues: Even if you get an inspection (which you should), surprising things will likely pop up, especially in an older home. 
  4. Long-term construction: One of the drawbacks of a place that isn’t move-in ready is just that. You’ll have to live within an ongoing construction site – or somewhere else entirely – while doing the upgrades.

So, should you look for a fixer-upper? 

Everyone’s homebuying situation and desires are unique, but any property you’re considering must fit your budget, needs, preferences and lifestyle. 

One final tip: Make sure you’re getting the best deal on a fixer-upper by looking at comparable homes in the neighborhood, then add your estimated cost of renovations to the purchase price. 

When you decide on that perfect home, whether it’s a new build, a turnkey existing home or a fixer-upper, you’ll need to ensure it’s protected. Our team at Transnation Title would appreciate being your choice for closing and title insurance. Contact us today for a stress-free closing!