What is "fixer-upper"

n. 1 (context US English) A house, property, car, or other object that needs to be fix up or repaired, often purchased as an investment. 2 A person who tinkers or fixes things up.

n. a house or other dwelling in need of repair (usually offered for sale at a low price)

In real estate slang, a fixer-upper is a property that will require maintenance work (redecoration, reconstruction or redesign), though it usually can be lived in as it is.

They are popular with buyers who wish to raise the property's potential value to get a return on investment, a practice known as flipping, or as a starter home for buyers on a budget. Home-improvement television shows touting do-it-yourself renovation techniques have made fixer-uppers more popular, but during a real-estate downturn, with newer homes available at depressed prices, there is often reduced interest. Inexperienced buyers frequently underestimate the amount and cost of repairs necessary to make a home livable or saleable. Structural and service issues such as a home's foundation or plumbing, which may not be visible at first, can require expensive, professional contracting work.