San Antonio is a great place to buy a fixer-upper if you're willing to put in the work.
The city has plenty of historic homes and affordable properties, making it a smart way to save money and build equity. But it's not all easy—renovations can get expensive, and surprises are almost guaranteed.
Before jumping in, make sure you understand the costs, know what kind of financing you’ll need, and have a solid plan for the work.
If you’re up for the challenge, a fixer-upper in San Antonio could turn into your dream home and a great investment.
Why Buy a Fixer-Upper in San Antonio?
A fixer-upper can be a smart investment if done right. Here’s why buyers are drawn to these properties:
Lower Purchase Price – Fixer-uppers are usually priced lower than move-in-ready homes, allowing buyers to enter the market at a discount.
Potential for Instant Equity – With the right upgrades, a home can quickly increase in value, making it a great option for long-term wealth building.
Customizable to Your Taste – Instead of settling for someone else’s design choices, you can create a home that fits your style and needs.
San Antonio’s Strong Market – The city’s growing population and job market make it a great place for real estate investment.
"Buying a fixer-upper in San Antonio can be a game-changer if you're willing to put in the work," says local realtor Mark Rodriguez. "But it’s important to understand the risks before jumping in."
Key Considerations Before Buying
Not every fixer-upper is a good deal. Here’s what you should think about before making an offer:
1. Budgeting for Repairs and Renovations
A home’s sticker price isn’t the full picture. Renovations can add up quickly, so factor in hidden costs like:
Structural repairs (foundation, roofing, plumbing)
Cosmetic upgrades (flooring, paint, kitchen updates)
Permit fees (required for major changes)
Unexpected costs (always budget for surprises)
| Expense Type | Estimated Cost |
|---|---|
| Roof Replacement | $8,000 - $15,000 |
| Kitchen Remodel | $12,000 - $25,000 |
| Electrical Upgrades | $3,000 - $8,000 |
| HVAC Replacement | $5,000 - $12,000 |
"The biggest mistake buyers make is underestimating renovation costs," says contractor Luis Ramirez. "You need a buffer of at least 20% beyond your initial estimate."
2. Assessing the Home’s Condition
Some fixer-uppers are worth the effort, while others should be avoided. Red flags to watch for include:
Foundation issues – Cracks, uneven floors, or doors that don’t close properly
Old electrical and plumbing – Knob-and-tube wiring or corroded pipes can be expensive to replace
Roof damage – Leaks and missing shingles can lead to major repairs
Extensive water damage or mold – Often a sign of deeper structural problems
Home inspection is critical. Before committing, hire a licensed home inspector to assess the property.
3. Financing Options for Fixer-Uppers
Traditional mortgages might not be the best fit for homes that need work. Instead, consider these options:
| Loan Type | Best For | Key Benefits |
|---|---|---|
| FHA 203(k) Loan | Buyers needing renovation funds | Covers purchase and rehab costs in one loan |
| Fannie Mae Homestyle Loan | Those planning major remodels | Allows a wide range of upgrades |
| VA Renovation Loan | Eligible veterans | Helps finance repairs on a VA loan |
| Hard Money Loan | Investors/flippers | Quick approval, but higher interest rates |
"Financing a fixer-upper requires planning," explains mortgage broker Jessica Soto. "Make sure you choose a loan that aligns with your budget and goals."
4. Permits and Regulations
San Antonio has strict permitting requirements for major renovations, especially in historic districts.
Structural changes, electrical work, and plumbing upgrades require permits.
Historic homes have additional restrictions—you may need approval for exterior changes.
Check zoning laws to ensure your intended upgrades are allowed.
Skipping permits can lead to fines or issues when selling the home later. Always verify with San Antonio’s Development Services Department before beginning work.
DIY vs. Hiring Contractors
Not all repairs require professionals, but knowing when to DIY and when to hire out is key.
✔ Best DIY Projects:
Painting
Flooring installation
Landscaping
Minor demolition
❌ Best Left to Pros:
Electrical rewiring
Plumbing replacements
Structural repairs
Roofing
"A lot of first-time buyers think they can handle everything themselves," says home improvement expert David Torres. "But certain jobs require experience to avoid costly mistakes."
Finding the Right Fixer-Upper in San Antonio
To find the right property:
✅ Look in the Right Neighborhoods: Some areas offer better investment potential. Consider:
Dignowity Hill (historic charm, revitalization projects)
Highland Park (affordable, strong appreciation)
Southtown (artsy, near downtown)
Jefferson/Woodlawn Lake (classic homes with character)
✅ Work with an Experienced Realtor: Find someone familiar with fixer-uppers who can guide you through the process.
✅ Get Multiple Contractor Quotes: Compare pricing before committing to major work.
✅ Know Your Limits: If the project seems overwhelming, it might be better to pass.
Final Thoughts: Is a Fixer-Upper Right for You?
Buying a fixer-upper in San Antonio can be a great opportunity to build equity, create your dream home, or make a solid investment—but only if you go in prepared.
Understand the risks, have a realistic budget, and be ready for surprises. As long as you do your homework, a fixer-upper can be a rewarding project that pays off in the long run.
At LRG, we specialize in guiding military families, veterans, and homebuyers through this process. Our experienced team is here to help you get preapproved and find the perfect home that fits your budget and needs. Contact us at 210-879-8220 or message us on our website. You can also follow us or message us on Instagram and Facebook! Also, check out our TikTok!
Frequently Asked Questions
How much should I budget for unexpected repairs?
Always set aside an extra 15-20% of your renovation budget for surprises. Older homes especially tend to have hidden issues.
Are fixer-uppers a good investment in San Antonio?
Yes, if you buy in a desirable neighborhood and make smart renovation choices, you can build significant equity.
What types of homes need the most work?
Older homes, particularly those built before 1970, often need updates to electrical, plumbing, and roofing.
Do I need special insurance for a fixer-upper?
Yes, builder’s risk insurance covers renovation-related issues, while homeowners insurance might not cover unoccupied homes.
Can I live in a fixer-upper while renovating?
It depends on the condition. Major repairs like plumbing and electrical work may make the home unlivable for a time.
How do I find a good contractor in San Antonio?
Get at least three quotes, check reviews, and ask for references before hiring a contractor.
Should I buy a historic fixer-upper?
Historic homes can be great investments, but renovation restrictions and higher costs can be challenging.
