It's Your Week: The new dream home is a fixer-upper

Let's play House Hunters. Which home would you pick to buy: A nice, move-in-ready home outside of your budget or a reasonably-priced home in serious need of some divine do-it-yourself intervention?

More and more, in pricey markets, people are opting for Option B.

👋 Sallee Ann here and welcome to Your Week, a newsletter exclusively for Paste BN subscribers.

This week, we're diving into the housing market (yes, it's still a wild ride) and, if you need to get out of the house, how to travel better. 

But first, don't miss these stories made possible with your subscription:

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• Authors of most banned books in the U.S. speak up: 'We can’t take these freedoms for granted.'
• What is sexual health? It's more than you think.

Home, sweat equity home

My family has been in our home for two years (we were first-time pandemic homebuyers) and our to-do list is still a daunting task. Maybe that's the same for you, no matter how long you've been in your space.  

But for homebuyers in costly markets, homes that need some extra TLC are looking mighty appealing.

"Fixer-uppers" are houses available to buy at a lower price because they usually require expensive repairs and sweat equity. 

Often an opportunity for entry-level buyers to get into homeownership, fixer-upper houses are increasingly popular with homebuyers of all income levels, as higher home prices and interest rates limit purchase power. 

How much savings are we talking about? Well, the median cost of a fixer-upper home in the U.S. is around $225,000. That's about 45% cheaper than turnkey homes, those that are ready to move into as is, in cities that are the same size.

Real estate reporter Terry Collins set out to learn more about the demand for these homes and the families who buy them.

"You’d think it be pretty easy to find somebody to talk to about repairing a structure they’d be proud to call home," Collins said. "Not exactly."  

After some initial rejections, Collins got in contact with two households on opposite sides of the country who were willing to be candid. Their common goal: creating a more spacious, loving home for their young kids. 

"One family in Southern California spent more than $200,000 to repair their 100-year-old home," Collins said. "Another, a single mom in suburban Philadelphia, spent more than $50,000 in upgrades for her nearly 30-year-old townhome, and that included repairing her flooded basement – again!"

Stephanie Zolomij, the single mom, told Collins those two basement repairs happened within two months of each other – “(Expletive) unbelievable!” she told Collins.

"Each family told me they had to show some discipline, patience, and in both cases, some do-it-yourself action," Collins said.

Collins said homeowners told him they began to wonder, when their home was completely under construction, how much work they were willing to put into it.

So how much are people putting into these homes?

"A lot," Collins said.

Want to buy a 'fixer-upper' home yourself? These are the top U.S. cities for them. Me, personally, I'll stick to just watching HGTV.

More housing stories you should read:

• Housing market correction? Here's what experts think is ahead for the real estate market.
• Home prices decline at rates seen close to a decade ago.
• Builders dealing with COVID 'hangover', says NAHB president.
• Death of the starter home? For first-time homebuyers, it's hard to buy starter homes.

True travel essentials

Does anyone else always have to make a last-minute stop at Walmart or Target before a trip? Whether it's for travel-size shampoo or a larger-sized swimsuit, there's always something.

A lot of little things go into making a smooth trip. But a lot of those little things are also really big and important. That's where our Travel team comes in with their "How to Travel Better" series.

"The 'How to Travel Better' series is aimed at pushing the industry forward," Travel editor Josh Rivera said. "The Paste BN Travel team has been committed to highlighting diverse perspectives and giving voice to those who are often overlooked. With this series, we aimed to put a spotlight on those parts of travel that can ruin an experience and provide ways we can do better."

The latest story in the series looks at how national parks are working to increase accessibility across their 423 sites.

Here's what that can look like in action:

• All U.S. citizens and permanent residents with a permanent disability can get a lifetime National Park Access Pass for free park entry.
• Wide, paved trails for people who use wheelchairs and fuller access to parks by car.
• Relaying information – including best and busiest times to visit – in a variety of ways, visually, verbally and otherwise.

Rivera said the Travel team is always looking for ideas and we love to incorporate our readers into our reporting. If you want the team to look into something or have a story to share, please reach out using this form.

More from our 'How to Travel Better' series:

• For some plus-size travelers, cruising is a largely inclusive way to travel. 
• Is there a doctor on board? What to know about airplane medical kits.
• When travel plans booked via Expedia go wrong, who is responsible?

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Thank you

Thank you for being a subscriber to Paste BN. Your support makes it possible to tell the stories you need whether home or away. Have a great week and see you here next week – same time, same place.

- Sallee Ann