Fixer-uppers are getting a lot of attention. Searches for homes that need a little TLC have tripled since 2021, and those listings now receive more than 50% more online views than comparable move-in-ready homes.

The appeal is easy to understand. Lower prices and the chance to customize a property are huge draws for today’s buyers. But fixer-uppers also come with challenges that can turn an exciting project into a costly mistake.

If you’re thinking about buying a fixer-upper in Raleigh, Durham, Chapel Hill, Cary, or Pittsboro, here’s what the data says, along with the real pros, cons, and pitfalls to watch for.

The State of Fixer-Uppers in Today’s Market

Across the country, the median price of a fixer-upper sits around $200,000, which is a 54% discount compared to the $436,250 median for single-family homes.

As of July 2025, there were about 79,000 fixer-uppers listed nationwide, up nearly 19% from 2021. Even with that increase, they make up a smaller share of the total housing market than before the pandemic — just 5.2% of listings today, down from 6.1% four years ago.

The typical fixer-upper was built in 1958, offers roughly 1,600 square feet, and features three bedrooms and two bathrooms. They also tend to sit on the market slightly longer, averaging 53 days versus 50.5 days for other homes.

In the Triangle market, the pattern holds true. Older ranch-style homes built between the 1950s and 1970s are especially popular among buyers looking for value. While prices vary by county, many of these homes in Durham, Cary, and Pittsboro list anywhere from $275,000 to $375,000, which can still offer a significant discount compared to newer construction.

The Pros of Buying a Fixer-Upper

Lower Costs
The biggest benefit of buying a fixer-upper is the price point. Since these homes are usually listed below market value, you can secure a smaller mortgage and potentially lower monthly payments.

Customization
Fixer-uppers offer creative freedom. You can open up the kitchen, add a deck, refinish floors, or modernize the layout to fit your lifestyle and taste.

Less Competition
While interest in fixer-uppers has grown, most buyers still prefer turnkey homes. That means you’ll often face fewer bidding wars and may have more room to negotiate.

Equity Potential
Renovating strategically can increase a home’s value and build equity faster. Even smaller updates — fresh paint, refinished floors, or updated fixtures — can deliver meaningful returns over time. Buyers who take a balanced approach often come out ahead.

The Cons of Buying a Fixer-Upper

Hidden Costs
The biggest risk with fixer-uppers is what you can’t see. Renovations frequently exceed expectations, and budgeting accurately is tough. Experts recommend setting aside 10% to 20% of your total budget for unexpected expenses.

From outdated wiring to plumbing issues or hidden water damage, surprises are common. Always get a full inspection before committing.

Time and Disruption
Renovations take time, and depending on the scope, you could be dealing with construction delays, zoning requirements, or permit approvals. If you plan to live in the home while renovating, expect dust, noise, and inconvenience.

Resale Risks
Not every upgrade adds value. Installing luxury finishes in a modest neighborhood can make it harder to recoup costs later. Before you remodel, research nearby home values to avoid over-improving.

Key Factors to Evaluate Before Buying

Not every fixer-upper is worth the investment. Here are four things to evaluate carefully:

1. Location and neighborhood: Look at amenities and future development. A great home in a poor location can still be a bad investment.

2. Structural vs. cosmetic issues: Cosmetic projects like paint and flooring are manageable. Foundation or roof problems can quickly consume your budget.

3. Resale potential: Keep renovation costs within 10%–15% above neighborhood averages to protect future resale value.

4. Timeline: Smaller projects may take weeks, but full remodels often stretch into months or even a year.

Common Mistakes to Avoid

Even savvy buyers can make missteps. The most common include:

• Overestimating DIY skills

• Underestimating cost and time

• Skipping permits or proper inspections

• Ignoring local zoning regulations

• Overpaying upfront for the property

All of these can be avoided by partnering with a local expert who understands the true cost of renovations and how fixer-uppers perform in the Triangle market.

The Bottom Line for Triangle Buyers

Fixer-uppers can be a smart way to enter the housing market or build long-term equity, but they require planning and patience. The key is preparation.

If you’re considering buying a fixer-upper in Raleigh, Durham, Chapel Hill, Cary, or Pittsboro, focus on:

• Understanding local pricing and market trends

• Exploring financing options early

• Setting realistic budgets and timelines

• Balancing DIY savings with professional help

• Never skipping inspections

With the right strategy and local guidance, a fixer-upper can be your path to building equity, personalizing your space, and finding a home that truly fits your vision. Reach out to me here, and let's discuss whether or not a fix-upper makes sense for you.

Thanks for reading!

Brandon Yopp