Fixer-upper homes cost 45% less than comparable turnkey homes: study

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Fixer-upper homes cost 45% less than comparable turnkey homes: study
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The median cost of a fixer-upper home in the U.S. is 45% lower than the median cost of a turnkey home, according to a new real estate analysis from Porch, a home improvement website.

Porch cited full structural skeleton and foundation renovation estimates from RemodelingCalculator.org and found that medianThat number is reportedly 15% higher on average than similarly located turnkey homes of the same size.Porch’s updated fixer-upper study found that only 1% of home listings in the U.S. have been classified as fixer-uppers in 2022 so far.

Cost estimates from RemodelingCalculator.org say a full laminate floor renovation that is 350 square feet could cost between $1,464 and $2,056 with basic materials. Citing data from Redfin, home buyers have a higher chance of finding a fixer-upper in Mississippi, where 4.73% of homes are considered fixer-uppers; Maine, where 4.72% of homes are considered fixer-uppers; and Louisiana, where 3.64% of homes are considered fixer-uppers.Other notable states that have more than a 2% share of fixer-upper homes include Alaska , Arkansas , Hawaii , Indiana , Vermont and California .

Cost estimates from RemodelingCalculator.org say a full asphalt roof renovation that's 1,600 square feet and requires a single layer tear-off could cost between $5,312 and $7,460 with basic materials.

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