When searching for a home, a common question asked by realtors is “Do you prefer a move-in ready home or a fixer-upper?” Some buyers have set in their mind that they want to put the sweat equity into a home themselves to have the satisfaction of knowing they’re getting everything they want, while some don’t want to lift a finger. While there are definitely pros to buying a fixer-upper (lower cost, ability to tailor the home to your liking, etc.), there has been an increase in demand for turnkey homes, and for good reason.
Appeal of Turnkey Properties
Turnkey, or move-in ready, properties offer the convenience to do just that — move right in — which is a massive appeal to buyers these days. Many prefer to walk in the door and start living, rather than having to worry for months about the ongoing projects being done on their house. Turnkey homes also typically come upgraded with the newest design elements and technologies that buyers are after, such as open floor plans, big kitchens, smart technology, speakers and more. While you may not get everything you desire, if you find a move-in ready home that checks off most of your boxes, the convenience of it much more than makes up for missing out on a few design features.
Increase in Demand of Turnkey Homes
Buyers today are more willing and able to pay more for a home that is essentially move-in ready, compared to spending less on a house that requires updating. The idea of putting the time and energy into a fixer-upper has lost its appeal over the past 10-20 years. This is largely due to the fact that buyers simply don’t have the time, energy or expertise to put into a renovation. People are busy these days, working countless hour jobs, raising families, participating in various activities, that not many buyers have the desire anymore to worry about tackling a full-blown restoration in the little free time they do have.
Which is right for you?
Buying a move-in ready home does come with its down sides. These properties are more expensive than ones that need work, for obvious reasons. Unless you luck out on your ideal home that’s already been built for you, you’re most likely not going to get everything you want with a move-in ready home, whether it be a granite countertop or walk-in closet. You have to decide, however, if these sacrifices are worth it to you and your family. If you love a good project, have the spare time, and can envision your dream home in your mind, take the leap and go for the fixer-upper. On the other hand, if your time is precious, you have no interest or experience in home projects, or just don’t have a major preference on the design choices in your home, locating that perfect move-in ready home is probably more your speed.
Whatever you choose, make sure you put your stamp on it so that it feels like home to you. Let us help you locate your dream home in the Orange County area today!