The U.S. housing market continues to be a little crazy. And buying a fully updated home can be out of the question for many people. First-time and experienced buyers may see the benefit of a fixer-upper. It can be a good investment as purchasing a home that needs extensive remodeling can get you a good price. But how good that return on investment depends a lot on where you’re looking to buy. If you’re looking to purchase a home in North Carolina, you’ll be glad to know one NC city did rank as one of the best to buy a fixer-upper! The study was conducted by StorageCafe!

Though I must relay a story for a word of caution. Just because you’ve watched HGTV and think you can doesn’t mean you should take this on by yourself. A good friend of mine just had her entire bathroom vanity detach from the wall after the previous owner did their own renovations. For long-lasting and quality renovations you should make sure to consult the experts. That slightly increased cost can save you in the long run!

What Makes Raleigh North Carolina such a great place to buy a fixer-upper:

  • Fixer-uppers in Raleigh represent 4% of the existing homes for sale.
  • The fixer-upper discount represents about 28% of the listing price, a more than hefty saving.
  • In fact, buying a fixer-upper shaves approx. $137K off the price of a turnkey home here.
  • In line with national trends, fixer-uppers are smaller than standard homes, but outdoor space makes up for it. Median lot sizes in Raleigh are an impressive 56% larger for fixer-uppers than for turnkey listings, translating to about 21,780 sq. ft. of space.

To come up with this list StorageCafe used 11 key indicators of fixer-upper market potential. Their ranking metrics rank from median purchase price to fixer-upper inventory and discounts, median home space, and lot size for a fixer-upper as compared to a regular home.

You can read their full analysis here or read on for the top 15 cities to purchase a fixer-upper.

  • 1. Milwaukee, WI

    Milwaukee

    Fixer Upper Listing Pric3: $79,900

    Fixer Upper Discount: -59.0%

    Fixer Upper Share of Home Stock: 12%

  • 2. Philadelphia, PA

    Philadelphia

    Fixer Upper Listing Price: $145,000

    Fixer Upper Discount: -51.7%

    Fixer Upper Share of Home Stock: 26%

  • 3. Detroit

    Detroit

    Fixer Upper Listing Price: $59,900

    Fixer Upper Discount: -47.95%

    Fixer Upper Share of Home Stock: 22%

  • 4. Memphis

    Memphis Tennessee TN Downtown Drone Skyline Aerial.

    Fixer Upper Listing Price: $109,900

    Fixer Upper Discount: -44.5%

    Fixer Upper Share of Home Stock: 18%

  • 5. Baltimore

    Maryland

    Fixer Upper Listing Price: $107,500

    Fixer Upper Discount: -48.8%

    Fixer Upper Share of Home Stock: 25%

  • 6. Jacksonville, FL

    Jacksonville, Florida Skyline

    Fixer Upper Listing Price: $199,900

    Fixer Upper Discount: -43.8%

    Fixer Upper Share of Home Stock: 10%

  • 7. Dallas, TX

    Dallas

    Fixer Upper Listing Price: $325,000

    Fixer Upper Discount: -44.4%

    Fixer Upper Share of Home Stock: 9%

  • 8. Louisville, KY

    Louisville

    Fixer Upper Listing Price: $170,000

    Fixer Upper Discount: -47.7%

    Fixer Upper Share of Home Stock: 7%

  • 9. Miami

    Miami

    Fixer Upper Listing Price: $450,000

    Fixer Upper Discount: -38.8%

    Fixer Upper Share of Home Stock: 9%

  • 10. Fresno, CA

    Fresno

    Fixer Upper Listing Price: $289,839

    Fixer Upper Discount: -34.9%

    Fixer Upper Share of Home Stock: 5%

  • 11. Raleigh, NC

    Raleigh

    Fixer Upper Listing Price: $350,000

    Fixer Upper Discount: -28.1%

    Fixer Upper Share of Home Stock: 4%

  • 12. Oakland, CA

    Oakland

    Fixer Upper Listing Price: $564,499

    Fixer Upper Discount: -37.2%

    Fixer Upper Share of Home Stock: 5%

  • 13. Kansas City, MO

    Kansas City MO

    Fixer Upper Listing Price: $155,000

    Fixer Upper Discount: -60.2%

    Fixer Upper Share of Home Stock: 7%

  • 14. Atlanta, GA

    Atlanta, GA

    Fixer Upper Listing Price: $249,450

    Fixer Upper Discount: -54.6%

    Fixer Upper Share of Home Stock: 8%

  • 15. Indianapolis, IN

    Indiana

    Fixer Upper Listing Price: $190,000

    Fixer Upper Discount: -29.6%

    Fixer Upper Share of Home Stock: 7%

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