Changed my mind about buying a fixer-upper after reading about the 1% rule

2 comments

2 Comments

Wait, you changed your mind because of a rule of thumb that's mostly used for rental properties? I can see being scared off by foundation issues or knob and tube wiring, but the 1% rule is just some number some guy made up on a BiggerPockets forum. That's like not buying a car because you heard you should only spend 10% of your income on it.

jones.grace14d ago

Why would anyone want a house that's already perfectly flipped with all the charm sanded off? A fixer-upper lets you build equity from day one and actually make the space your own instead of paying a premium for someone else's mediocre taste. Besides, the 1% rule is just a rough guideline, not a hard law.