Fix it up or let the buyer do it

According to the recent Coldwell Banker 2006 Homeownership in America Survey,  the do-it-youself trend may be winding down.  68% of the 25,000 respondents indicated the last home they purchased was either brand new or needed little to no additional work.

So, are the days of the fix and flip over?  This survey would indicate that potential buyers will be far more likely to purchase a home that already has the updating completed.  Today's buyer doesn't have the time or inclination to take on a big project to make a home liveable.  Even though they may get more square footage for the money by doing a little work themselves, it seems today's homebuyer is more interested in doing other things.

Investors are always looking for the fix and flip property.  Typically they want to purchase it at a discount, however.  So the chances of getting full price from an investor are pretty slim.

So our advice?  Fix it up before trying to sell it in today's market.

3:53 PM - Aug. 28, 2006 - comments {0} - post comment

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