Results just being released from a recent survey suggest buyers are looking for “move-in ready” and shying away from “as-is.” These findings are important for sellers contemplating what to modify and/or update, but also for investors looking for a fix and flip.
A great article published in Realty Times sums up the findings nicely. We’ve heard it for years – get back to the basics and set your self apart. Simple improvements, both inside and out, can add both perceived and real value to the home. When buyers see areas around a home needing attention, they begin to wonder what else may be lurking that they can’t see. Minimizing the hassle factor for the buyer is always a good thing!
The findings indicate first-time home buyers are strapped for cash and don’t have a lot of excess money after the home purchase to make improvements to the property. The home will sell quicker and for a higher price if it’s move-in ready.
For investors, the market is ripe to go in a find a property in need of repairs, then doing it up right and putting it back on the market. There are deals to be had out there – and I’m come across them weekly – where homes in need of repair and undervalued and prime for the “fix and flip” investor.
Photo from Flickr courtesy of Mondibongo.