Home Shoppers Are Ready For Renovations

In a perfect world, we'd all be able to buy a home that fulfills our wish list, is in great condition, and already has our preferred fixtures, features, and finishes. Of course, that isn't the way things work. Buying a house requires compromise and, in some cases, a good strategy for how to fix the things you don't like about a home you're otherwise crazy about. Fortunately, if recent data is any indication, today's home shoppers understand this and are realistic about their chances of finding the perfect home. For example, according to a new survey, nearly 60 percent of respondents said they'd consider a home that needs renovating and would be willing to spend more than $20,000 to get the job done. There are a number of reasons for the increasing number of home shoppers looking for a fixer-upper. For one, the limited number of entry-level homes for sale means buyers have to consider homes they may not have if they had more options. But beyond that, the popularity of home renovation TV shows and the fact that those who are considering a fixer-upper believe they'll see a return on their investment also contribute to buyers' willingness to take on a project.