We all know that home buyers today want a new roost, not an old wreck. Very few are interested in tackling an ancient relic with peeling paint, deteriorating windows, ancient plumbing and in today’s PC world, energy black-holes. And yet, venturing into the world of fixer-uppers can be exciting if not a rewarding experience. All of the TV shows about house-flipping may propel you to jump into the real estate market buying frenzy but be careful. There are 1000 things to do and not do, and you have to have a strategy and a lot of common sense to avoid the pitfalls. These are just a few tips I’ve collected over the years that might help you make the best decisions: 1.Prepare an adequate budget.