The Federal Housing Administration's updated 203(k) rehab loan program allows buyers to borrow up to $75,000 and have 12 months for renovations, making ownership more accessible.
David Bates highlights that while interest in fixer-uppers is growing, many buyers have unrealistic expectations fueled by cable TV shows that simplify renovation challenges.
Seventy-three percent of home buyers may consider a fixer-upper if it means a lower purchase price, indicating a significant trend in home buying preferences.
The Boston housing market poses a greater risk for fixing up homes as it emerged as the sixth-lowest return on investment for fixer-uppers nationwide in 2023.
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