A real-estate term for a home that needs maintenance work (redecoration, redesign, or reconstruction) that is typically offered at a low purchase price, but can usually be lived in as-is. Fixer-uppers offer buyers more house for your money or potential profit for investors looking to flip the property.

There are several things you should consider before buying a fixer-upper: the cost of needed repairs, intended use of property (home or resale), the potential market value of renovated home, and how much time it'll take to renovate the home.

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