Should You Buy a Fixer-Upper? 5 Key Considerations Before You Commit

Purchasing a home that needs a little (or a lot) of TLC can be tempting. Fixer-uppers often come with lower price tags, giving buyers the chance to personalize their space and potentially make a profit in the long run. But before you put in an offer and roll up your sleeves, there are some crucial things to think about. If you're considering buying a fixer-upper in Roseland, West Orange, Verona, or anywhere in Morris or Essex County, this guide will help you make a well-informed decision.

1. Know Your Budget – And Then Add More

You’ve heard the horror stories: someone buys a house thinking they’ll only need to slap on some paint, but they end up discovering a whole new level of "surprises" (think leaky plumbing or faulty electrical systems). Even with the best planning, renovations often end up costing more than you expect.

Reality Check: Unless you’ve already done this before (and even if you have), plan for unexpected expenses—around 10-15% extra to cover the surprises. Knowing what you can afford—and where you’re willing to stretch—will help you avoid financial panic later. Also, don’t forget the small stuff: like new fixtures, paint, or even a chic doorknob set, those details add up.

If you're not sure where to start, get an inspection and consult with contractors (like La Vaca General Contractors, if you’re in Morris County, Essex County, or Bergen County). This can give you a rough estimate of repair costs before you buy.

2. Time Commitment – It’s Not a 30-Minute TV Episode

Renovations take time. HGTV makes it look like you can gut a kitchen in a week, but unless you’ve got a professional crew working non-stop, expect longer timelines. Depending on the extent of the repairs, it could take months—or even years—to complete a fixer-upper.

Before you buy, ask yourself: Do I have the time to manage this project? Will I be okay living in a construction zone? If you’re balancing a full-time job or family commitments, this is no small consideration.

Fixer-upper projects can be fun, but they can also be exhausting, especially if it drags on for a while. Make sure your timeline works with your life—if you need a move-in ready home now, a fixer-upper might not be your best bet.

3. Skillset – Are You Ready for This?

Sure, YouTube tutorials can make you feel like Bob Vila, but some home projects require more than DIY enthusiasm. Replacing a faucet? Sure, that’s doable. Installing a new roof? Maybe leave that to the pros.

If you’re experienced with tools and small repairs, that’s great. But for larger projects, you may need to hire contractors. Before buying, assess whether you have the skills (or the willingness to learn) to tackle the renovation tasks. If not, prepare to hire experts, and remember, skilled labor costs money. For example, residents in West Orange, Parsippany, or Cedar Grove can easily contact local professionals like La Vaca General Contractors to handle the big stuff.

4. Emotional Readiness – Be Honest with Yourself

This isn’t talked about enough. Renovating a fixer-upper is a stressful experience. Between the dust, noise, budget concerns, and constant decisions about tiles and paint colors, it’s easy to feel overwhelmed. You’ll need patience—not just with the work, but with the inevitable setbacks.

Are you ready for those moments when you feel like you’re starring in a home improvement disaster? If the thought of delays, hidden mold, or unreliable contractors keeps you up at night, think twice before signing those papers.

5. Resale Value – Is the Neighborhood Worth It?

You want your fixer-upper to pay off, right? If resale value is important to you, research the neighborhood before you commit. Are homes appreciating in value? Will your improvements bring the house in line with other homes in the area? If you’re investing in a major renovation, you’ll want to make sure the house will be worth more when you’re done.

Also, not every home improvement project pays off. Bathrooms and kitchens tend to bring the most return on investment, while personal projects (like a home theater or a fancy wine cellar) might not. Always think about whether your renovations are adding true value to the home.

If you’re in Morris County, Essex County, or surrounding areas, and unsure of the resale potential of your fixer-upper, ask a local real estate agent. La Vaca General Contractors has completed projects across towns like Madison, Morristown, and Verona, so we’ve got a good sense of what buyers are looking for.