Buyers Developing Aversion to Renovating
When the market was booming, buyers were willing to take on renovations in order to get a better deal. These days, however, fixer-uppers are demanding steeper discounts to their move-in-ready brethren, if they’re even selling at all. “Buyers don’t want to do any renovations right now,” Halstead’s Amelia Gewirtz told The Real Deal. “I have…
When the market was booming, buyers were willing to take on renovations in order to get a better deal. These days, however, fixer-uppers are demanding steeper discounts to their move-in-ready brethren, if they’re even selling at all. “Buyers don’t want to do any renovations right now,” Halstead’s Amelia Gewirtz told The Real Deal. “I have people saying, ‘I don’t even want to have to paint.'”
My biggest peeve when we were house hunting was seeing someone else’s bad renovation. I hated when the brokers touted the recent upgrades and ‘top of the line’ materials….gag!!
I too would rather buy a fixer-upper and fixer it to my upper tastes.
Agreed SnarkSlope. When things were booming I was scrapping to find a crappy clunker I could tailor, but people were asking crazy prices when I knew I’d have to put 30-40% of the purchase cost in just to get the place up and running. If you have the cash now there is some possibility out there to find something with potential. You have to have where-with-all to get through the process though. It can be callenging depending on your situation, but personally I think the end product is more rewarding knowing you put something of yourself into it…besides money.
you people make billie dee williams cry not knowing what OE is. tho i think he was affiliated back in the day with colt 45 right? OE is a olde english. malt liquor. love juice.
*r*
Is it a drink or an aftershave? Or both?
This is great news as far as I am concerned. I’d rather take on a renovation than pay too much for somebody else’s taste.
I don’t know what OE is either.
I see hannible is once again proving that three 40s of OE is part of a balanced breakfast.
Biff: OE = Old English.
I think it’s getting a bit over the top when someone won’t buy because the house or apt doesn’t have a fresh paint job. That’s not fiscal reality, that’s cutting off your nose to spite your face. A huge reno job, maybe. Paint? That reminds me of those people on HGTV’s House Hunters, who reject perfectly good homes because they don’t like the wallpaper or paint job, or even sillier, the seller’s furniture.
Too bad, because tradespeople are hurting along with everyone else, so if you have a little money this is time to renovate. When things were booming, I found tradespeople to be insufferable/unavailable.
I would say that if you’re buying for the long haul, fixer-uppers are still the way to go. Just spend less and budget thedifference for the work…