Buying a home with the knowledge that more work still lies ahead can be a deterrent to potential home buyers. Increasingly buyers are looking for that turnkey, move-in ready home that won’t require extensive and time consuming repairs. Millennials, those born between 1980 and 2000, especially fit that bill. Here are our top 5 tips for creating a turnkey home.
According to the National Association of Realtors’ 2016 study of generational housing trends, millennials — those born between 1980 and 2000 — comprise the largest segment of the buyer market (35%). Most Millennials want a turnkey home that needs little or no work. Between starting careers, starting families and paying off student loans, millennials seek move-in ready with little care needed. Buyers may pass on an otherwise perfect home, if they feel it will require too much work or the amount of effort needed is uncertain.
5 Tips for Creating a Turnkey Home
#1. Define “turnkey” and specify what is included
The first step in creating a turnkey home is understanding what defines turnkey. Provincetown Agent Stuart Lewis notes that buyers should “identify what they are taking right up front as this can ruin deals down the road especially during negotiations.” Something as small as a bean bag chair can derail the offer. To Lewis, turnkey includes everything (kitchen contents, new linens, towels, etc.) whereas furnished is just the furniture. For that added wow factor, consider including these added amenities.
#2. Get your inspection done early
Chatham Agent Fran Schofield recommends having your home inspection and any needed repairs done prior to launching the property to market to maximize efficiency and reveal any hidden flaws that may exist.
#3. Your kitchen matters
The kitchen has become the most important room in home buying and selling. Of all homes listed for sale on realtor.com, 69% of them tout the kitchen as a selling point in their descriptions. Consider updating dated or mismatched appliances and making them consistent. Stainless steel appliances add a premium of 12% compares to homes without in the same zip code. Falmouth Agent Lynn O’Neill also suggests recessed lighting and a center island in the kitchen for added efficiency.
This turnkey Brewster home features a new kitchen with granite counters, stainless appliances, and creamy cabinetry.
#4. Open up the space
An open floor plan fits with millennials desires. A study from the National Association of Home Builders (NAHB) showed that 78% of millennials prefer an open concept floor plan. Aside from installing desirable flooring, consider knocking down a wall or two if it leads to a more open space. Consider adding new windows and doors — the more glass, the better!
This turnkey New Seabury home features an updated kitchen that looks into the living room and overlooks the private pool and courtyard. Ten new Andersen sliders add to the openness of the space.
#5. Update, update, update
The old real estate expression location, location, location is still vitally important. For turnkey homes updating is even more critical. Whether it is a fresh coat of paint, an updated heating system or new windows and doors, these can go along way in making the sale.
This turnkey Harwich home has had many updates in the past year including a new heating system, new central air, new roof, new hardwood floors and more. The upgrades paid off– the home went under agreement within days!
Whether you’re in the market for a fixer-upper you can personalize, or a turnkey home you can fully enjoy on day one, the knowledgeable and helpful agents at Robert Paul Properties are always available to help with all your real estate needs. View our agents on our website, or simply call 508.648.6861.