Buying a fixer-upper

What actually decides whether a fixer-upper pays off, how far the renovation budget really stretches once real contractor bids come in, and what buyers wish they had checked before signing.

• Is buying a fixer-upper worth it? Worth it only if you've got cash and patience.
• What does a fixer-upper cost beyond the purchase price? Budget 20 to 30% of the purchase price, minimum.
• What do fixer-upper buyers wish they'd known before signing? Budget for twice the time and money.

ZapHog can make mistakes. Check important info.