Not long ago, back when money was real cheap, many buyers were willing to pay an exorbitant price for their home, even if their new home required an extensive amount of work. Buyers were willing to hire contractors themselves after closing, and pay what they needed to pay, if that's what it took to get into a home and bring it up to snuff.
Well, that dynamic has changed. As we recently wrote in our blog, today's buyers have evolved from irrational and desperate to selective and discerning. When they consider today's housing costs, today's remodeling costs, and the amount of time it can take to hire and schedule a good contractor, today's buyers would much rather buy turnkey -- or pay a much lower price.
What does it mean to sell a turnkey home?
Turnkey means that the critical repairs have been addressed. The most glaring cosmetic flaws have been eliminated. And that the staging, photos, and marketing all work in harmony to present the image of a highly-appealing home.
Turnkey is more about removing objections than it is about home renovation. It's about choosing the repairs and updates that offer a proven return on investment.
For example:
- Turnkey means hiring a professional contractor to seal a basement foundation crack (and providing a transferable warranty) -- so you don't take a big hit on price.
- Turnkey means painting the old kitchen cabinets and adding new hardware rather than buying and installing brand new cabinets.
- Turnkey means selectively investing in affordable flooring, a few new light fixtures, and some fresh paint -- rather than remodeling the whole house.
If selling your home or condo is in your future, the good news for you is we've been helping our clients sell turnkey for years. We offer all of the support you need when it comes to staging your home, addressing critical repairs, and finding and hiring contractors who will help you make smart cosmetic updates. Contact your Mad City Dream Homes realtor to get started. We would love to be a resource for you and help you plan for your future.
