What Is a Fixer-Upper in Real Estate?

A fixer-upper is a property that needs repairs, updates, or renovations before reaching its full market value. These homes are often priced lower than comparable move-in-ready properties, attracting buyers who want to build equity through improvements.

🔧 How a Fixer-Upper Works

  • The property is sold below market value due to its condition or need for renovation.
  • Buyers estimate repair costs and plan upgrades that increase resale or rental value.
  • Once renovated, the home can be lived in, rented out, or sold for profit (a “flip”).

Fixer-uppers appeal to investors and homebuyers looking to gain value through sweat equity, especially in competitive real estate markets.

⚖️ Pros and Cons of Buying a Fixer-Upper

  • Pros: Lower purchase price, potential profit after renovations, and customization flexibility.
  • Cons: Hidden repair issues, project delays, and higher-than-expected renovation costs.

Before buying, it’s important to budget carefully, inspect thoroughly, and understand local zoning and permitting rules.

🏠 Selling a Fixer-Upper as a FSBO

Many homeowners choose to sell their fixer-upper as-is to attract cash buyers or investors. With Brokerless, you can list your property on the MLS for a one-time flat fee, reaching buyers on Realtor.com, Zillow, and local MLS systems without paying a 6% commission.

Ready to list your fixer-upper and reach thousands of buyers on the MLS?

📋 View Flat Fee MLS Packages

Explore more plain-English explanations in our Real Estate Definitions Library .