For years, many first-time buyers saw fixer-uppers as one of the few affordable ways into homeownership: buy a cheaper house, renovate it over time, and build equity along the way. However, with inflation, tariffs, and construction labor shortages driving up the price of materials and labor, the calculation has become more complicated.

Rising Renovation Costs

High home prices and mortgage rates have stretched many buyers’ budgets, causing homes that need significant work to sell at some of the steepest discounts in years. As a result, many buyers are rethinking whether a fixer-upper is worth the investment.

Original reporting: KRDO (Colorado Springs metro) — read the source article.