Your comparison house, in the same subdivision, sold last month for 0,000.

Repairs must cost at least ,000, and homeowners must hire a 203(k) consultant, who, for a fee of a few hundred dollars, determines whether the project is financially feasible, inspects the property, prepares or contracts out architectural exhibits and oversees the work.

TV remodeling shows make home improvement work look like a snap.

In the real world, attempting a difficult remodeling job that you don’t know how to do will take longer than you think and can lead to less-than-professional results that won’t increase the value of your fixer-upper house.

When a house isn't pretty, some buyers will stay away, leading to a lower price.

However, if you have the vision to see what it can be, you can take advantage of their reticence.