Survey says . . . “first time buyers want ‘turnkey’ ready homes, not ‘fixer uppers’”
If you are home seller hoping to sell to a first-time buyer, here are some important facts from a recent survey conducted by Coldwell Banker®.
The survey findings clearly show that first-time Buyers want a ‘turnkey’ property where they can simply move in and start to enjoy living in their new home. The results fly in the face of a belief that “fixer-uppers” appeal to most first-time buyers trying to get their start.
It starts to make sense when you realize that these individuals have typically put most of their financial power into the down payment. They don’t have large reserves of cash available to start putting more money back into the property on major upgrades and renovations.
First-time buyers are typically just starting out in their career and – especially in the case of single buyers – don’t have the free time needed to tackle repairs to the house. As a seller, it’s worth noting that the less repairs or updates needed on your property, the more appealing it’s going to be to the first-time buyer. In most cases, it’s well worth the investment to do the necessary repairs and finishing before putting the “For Sale” sign up on your lawn.
If it sounds a bit overwhelming, don’t let it. We’re here to guide you if you’d like to discuss a straight-forward approach. We can show you how any planned repair, upgrade or renovation may affect the potential resale value of your home. Call us at 905-357-9700 or email firstname.lastname@example.org