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Rising Renovation Costs Challenge El Paso's Fixer-Upper Market

KVIA••CNN Newsource
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The appeal of fixer-upper homes in El Paso is waning as renovation expenses soar due to inflation, tariffs, and labor shortages. First-time buyers, who once viewed these properties as affordable entry points into homeownership, are now facing steep discounts on homes needing significant repairs. This shift raises questions about the viability of investing in such properties amidst high home prices and mortgage rates. As the market evolves, potential buyers must reconsider if the investment in a fixer-upper is still worthwhile.

Key Details: • Consider current renovation costs before purchasing a fixer-upper. • Evaluate your budget against rising home prices and mortgage rates. • Research local market trends for fixer-upper properties.

housing real-estate market-trends homeownership renovation

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