Once a small, functional space tucked away at the back of the house, the kitchen has emerged as the showpiece of the home. Luxury appliances, beautiful cabinetry and gleaming stone countertops are status symbols—and catnip for homebuyers.

Fixer uppers generally appeal to two types of people: Homebuyers wanting to stretch their purchasing dollar and investors looking to turn a profit. But not everybody’s cut out for #renolife. If you think you’re ready to take the leap, here’s some food for thought.

Thanks to lower prices, better value and reduced competition, ambitious buyers go for fixer uppers in tight housing markets. With prices of turnkey homes expected to keep rising (albeit more slowly than they have been), you may be wondering if a fixer is right for you.