Buyers Want Move-In Ready Homes, Not Fixer-Uppers, Zillow Says | Global News Avenue

According to recent research, home buyers are less interested in “sweat levels, etc.” and “good bones” than moving in quickly.

According to the new report, at least that’s what Zillow said is showing. Real estate market company Zillow said in a recent report that their analysis of search trends showed buyers willing to pay nearly 4% (about $13,000) for A Renovated home.

Zillow said the remodeled list is 26% more than unremodeled homes, while Turnkey Homes shares 30% more frequently with home shopping partners than similar homes that aren’t remodeled, which is what these shoppers take buying more seriously.

This is not always the case, according to Zillow. The company said the term “reshaping” contributed to a sales price premium of less than 1% a year ago. Before the pandemic, Zillow said that a list of terms like “Fixer,” “TLC” “need to work” or “good bones” was more likely to be sold than terms without these terms.

The Fixer-Upper opportunity can attract buyers who want buyers to spend less or are eager to have personalized homes. But others may prefer to give up on the extra cost, effort and time of getting the job done. Some market observers say Americans who have been avoiding home renovations may soon decide on them due to inflation and interest rates Can’t push them down Longer time. Indeed, home improvement retailers have been waiting for them to restart their spending Large-scale projects.

Home buyers’ preferences may also affect housing prices. According to Zillow, Fixer-upphers sell for 7% less than other similar homes, the biggest discount in three years.

“Buyers who have expanded their budgets to afford a home in today’s market may be reluctant or able to spend more on renovations or repairs. Remodeled homes may come with higher prices, but buyers can spread the extra cost throughout the process 30 years of mortgage loan Zillow’s family trend expert Amanda Pendleton said: