What to Expect When Buying a Fixer-Upper in Burbank

Burbank's housing market is expensive. The median home price hovers around $1.1 million, which puts a lot of buyers in a tough spot: you want to live in Burbank, but you can't afford move-in-ready homes.

Enter the fixer-upper.

Fixer-uppers in Burbank typically sell for $100K-$300K less than comparable updated homes. If you're willing to renovate, you can get into a better neighborhood, build equity, and create the home you actually want.

But fixers come with risks. Renovation costs can spiral. Timelines can drag. And not every fixer is a good investment.

As a Burbank Realtor who's helped buyers navigate fixer-uppers, I'm going to break down what to expect: how to find them, what they cost, what renovations actually run, and whether buying a fixer in Burbank is worth it.

What Is a Fixer-Upper?

A fixer-upper is a home that needs significant work before it's move-in ready.

Common issues in Burbank fixers:

• Outdated kitchens and bathrooms (original 1950s-1970s fixtures)

• Old electrical and plumbing systems

• Original windows (single-pane, drafty)

• Roof needs replacement

• Foundation issues (cracks, settling)

• Cosmetic neglect (old carpet, dated paint, worn flooring)

• Overgrown landscaping

  
  

Fixers range from:

• Cosmetic updates needed (paint, flooring, kitchen/bath refresh) → $50K-$100K

• Major renovation (full kitchen/bath remodel, electrical, plumbing, HVAC) → $150K-$300K

• Gut renovation (down to studs, full rebuild) → $300K-$500K+

  
  

The key: Know what you're getting into before you buy.

Why Buy a Fixer-Upper in Burbank?

1. Lower Purchase Price

Fixers in Burbank sell for 10-25% less than updated homes.

Example:

• Updated 3-bedroom home in Rancho: $1.3M

• Fixer 3-bedroom home in Rancho: $950K-$1.1M

You save $200K-$350K upfront.

2. Buy in a Better Neighborhood

$1.1 million gets you a fixer in Rancho or Magnolia Park—neighborhoods where updated homes cost $1.3M-$1.8M.

If location matters more than immediate move-in condition, fixers let you buy in better areas.

3. Build Equity

If you buy a $1M fixer and put $200K into renovations, you might have a home worth $1.4M-$1.5M.

You've built $200K-$300K in equity.

But this only works if you renovate smart and don't over-improve.

4. Customize to Your Taste

When you buy a fixer, you get to design the kitchen, choose the finishes, and create the home you want.

No one else's questionable design choices.

The Downsides of Buying a Fixer-Upper

1. Renovation Costs Are Higher Than You Think

Most buyers underestimate renovation costs by 20-40%.

Example:

• You budget $150K for renovations

• Actual cost: $190K-$210K (due to permits, unexpected issues, contractor delays)

Always add a 20-30% buffer to your renovation budget.

2. You Can't Live in It While Renovating (Usually)

Major renovations (kitchen, bathrooms, electrical, plumbing) make homes unlivable.

You'll need to:

• Rent while renovating (double housing costs)

• Live with family

• Stay in temporary housing

This adds to your total cost.

3. Timelines Stretch

Contractors always take longer than promised.

Expected timeline: 3-4 months

Actual timeline: 5-8 months (permits, delays, unexpected issues)

If you need to move in by a specific date, fixers are risky.

4. Financing Can Be Complicated

Most lenders won't finance homes that aren't livable.

Options:

• Conventional loan (works if the home is livable but needs cosmetic updates)

• 203(k) Renovation Loan (FHA loan that rolls renovation costs into mortgage)

• Conventional Renovation Loan (similar to 203(k) but not FHA)

• Cash purchase + HELOC (buy cash, renovate, then refinance)

• 
  

Talk to a lender BEFORE you start looking at fixers.

5. Some Fixers Are Money Pits

Not every fixer is a good deal.

Red flags:

• Foundation issues (can cost $50K-$150K+)

• Extensive termite damage

• Mold throughout the house

• Unpermitted additions

• Electrical systems that need full replacement

  
  

Some fixers cost more to fix than they're worth.

What Renovation Costs Actually Look Like in Burbank

Here's what common renovations cost in 2025-2026:

Kitchen Remodel:

Budget remodel: $40K-$60K (IKEA cabinets, laminate counters, basic appliances) Mid-range remodel: $60K-$100K (semi-custom cabinets, quartz counters, decent appliances) High-end remodel: $100K-$150K+ (custom cabinets, marble/quartz, high-end appliances)

Bathroom Remodel:

Budget remodel: $15K-$25K per bathroom (basic tile, stock vanity, builder-grade fixtures) Mid-range remodel: $25K-$40K per bathroom (nice tile, custom vanity, quality fixtures) High-end remodel: $40K-$70K+ per bathroom (luxury tile, custom everything)

Flooring:

Carpet: $3-$6 per sq ft installed

Laminate: $5-$8 per sq ft installed

Hardwood: $10-$18 per sq ft installed

Tile: $8-$15 per sq ft installed

Full-house flooring (1,500 sq ft): $10K-$25K

Electrical and Plumbing:

Panel upgrade: $3K-$6KRewiring whole house: $10K-$20KReplumbing whole house: $8K-$15K

HVAC:

New central air + heating: $10K-$18K

Roof Replacement:

Asphalt shingles: $12K-$18KTile roof: $20K-$35K

Foundation Repair:

Minor cracks: $2K-$8KMajor foundation work: $15K-$50K+House leveling: $30K-$80K+

Windows:

Vinyl windows: $400-$800 per window installed

Full house (15 windows): $6K-$12K

Paint (Interior):

Whole house (1,500 sq ft): $5K-$10K

Landscaping:

Basic cleanup and new sod: $3K-$8KFull landscaping redesign: $10K-$25K+

Total Renovation Costs (Examples)

Light Cosmetic Fixer:

Work needed: Paint, flooring, landscaping, minor kitchen/bath updates

Cost: $50K-$100KTimeline: 2-3 months

Moderate Fixer:

Work needed: Full kitchen remodel, 2 bathroom remodels, new flooring, paint, HVAC, roof

Cost: $150K-$250KTimeline: 4-6 months

Heavy Fixer:

Work needed: Full kitchen, 3 bathrooms, electrical, plumbing, HVAC, roof, foundation work, landscaping

Cost: $250K-$400KTimeline: 6-12 months

How to Find Fixers in Burbank

Fixers don't always say "fixer-upper" in the listing. Here's how to spot them:

MLS Search Terms:

• "Needs TLC"

• "Investor opportunity"

• "Handyman special"

• "Sold as-is"

• "Original condition"

• "Priced below market"

  
  

Look for These Red Flags (Actually Green Flags for Fixer Buyers):

• Photos show dated kitchens/bathrooms

• Listing mentions "original fixtures"

• Low price per square foot compared to neighborhood

• Short listing description (hiding condition)

• Estate sales or probate sales (often neglected homes)

  
  

Work with a Realtor Who Knows Fixers

I can help you:

• Find off-market fixers

• Estimate renovation costs

• Connect you with contractors

• Negotiate based on repair needs

Should You Buy a Fixer in Burbank?

Buy a fixer if:

✅ You have cash reserves for unexpected costs (20-30% buffer)

✅ You can live elsewhere during renovations

✅ You're patient (timelines will stretch)

✅ You want to build equity

✅ You want to buy in a better neighborhood than you could otherwise afford

Skip fixers if:

❌ You need to move in immediately

❌ You don't have renovation cash reserves

❌ You hate dealing with contractors and stress

❌ You're not handy and can't manage projects

❌ You're buying with minimal down payment (no extra cash for repairs)

Final Thoughts

Buying a fixer-upper in Burbank can be a smart financial move—if you do it right.

You can save $100K-$300K on purchase price, buy in better neighborhoods, and build equity.

But you need to:

• Budget accurately (add 20-30% buffer)

• Get a pre-renovation inspection

• Have cash reserves

• Be patient with timelines

• Work with experienced contractors

  
  

Fixers aren't for everyone. But for the right buyer, they're the best way to get into Burbank's best neighborhoods.

If you're considering a fixer and want help evaluating properties, estimating costs, and finding the right home, let's talk.

Michelle Crochet

Realtor | eXp Realty of Greater Los Angeles

DRE #02099298

📞 (818) 688-2062

✉️ mc@magnoliagroupla.com