Faced with the daunting unknowns and potential complications of large-scale renovations, many people immediately turn away from buying a fixer-upper. In fact, a recent study by Frontdoor reports that offers for fixer-uppers halved from 2022 to 2023. But the high risk can come with a high reward. Frontdoor found that on average, those who take the leap of renovating a fixer-upper earn a 27.5% return on their investment. And that’s on top of the personal benefits gained from designing a home to your taste.