Each Tuesday, catch up with Mansa Musa from MoneySmartLife.org and host Randi Myles to help empower, “sustainable financial well-being for working class families.”
Today’s Topic: It’s opposite day on Take Control Tuesday so here are 10 Ways to Become Poor
Michigan Has the Best City to Buy a Fixer-Upper in America
The housing market has been turbulent lately, due to interest rates going up and a variety of other factors, so if you’re looking to buy a fixer-upper, it can be confusing. That said, a few cities in the U.S. are great areas to buy a fixer-upper, and one is in Michigan.
StorageCafe.com has put together a study to determine the best places to buy a fixer-upper in America. “Finding a home with good bones is not the easiest task, however, and it depends a lot on the location you’re looking to buy in,” they state. “Some places make it much harder than others to turn your homebuying journey into a success story similar to those featured on the ‘Property Brothers’ or Chip and Joanna Gaines’ ‘Fixer Upper.'”
As for methodology, StorageCafe.com states that, “by analyzing 61,200 active single-family listings on home search website Point2, we ranked the 50 most populous cities based on several metrics, including prices, number of active fixer-upper listings, home sizes and lot sizes. We also considered self storage costs and inventory as the service is typically useful both during the renovation process of a fixer-upper and afterwards as fixer-uppers are generally smaller (1,400 sq. ft. on avg. vs. 1,900 sq. ft. on avg. in standard homes).” Thanks to all of the research, the publication was able to discover which markets are “more favorable to homebuyers looking for fixer-uppers from both an availability and an affordability standpoint.”
So, which Michigan city is the best in America to buy a fixer-upper? Read on for the top 10 markets, including the Michigan pick. Find the full list of all the cities here.