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What is a fixer-upper?

What is a fixer-upper? Here are some definitions.

Noun
  1. (US, informal) A house, property, car, or other object that needs to be fixed up or repaired, often purchased as an investment.
  2. (informal) A person who tinkers or fixes things up.
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Examples
If those are the pertinent questions, then you may be about to close the deal on a fixer-upper.
He says it's best to buy a moderately priced home that can appreciate, or buy a fixer-upper, make the repairs, and reap the financial benefit.
We found that we could get a brand-new home with a mountain view and large rooms for the boys for the same price as a fixer-upper.
Read about how to buy condemned properties or a fixer-upper and make it worth your time and money.
I wanted to find a place in the country, an old house, a pretty fixer-upper, but most importantly without any established garden.
You've bought a fixer-upper with a neglected yard, and you want to make it pretty.

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