According to a new survey from Move.com, the wave of first-time homebuyers hitting the market this summer has resulted in an interesting statistic. Nearly 60% of buyers searching for a home this spring are willing to consider buying a fixer-upper, with 95% believing that the projects needed will increase their new home’s value!
Realtor.com’s Chief Economist, Danielle Hale, pointed to low-inventory at the entry-level price range for the increase in willingness to renovate.
“The combination of rising home prices and limited entry-level homes for sale is prompting many home shoppers to consider homes that need renovating.
Replete with inspiration at their fingertips – like Pinterest, Instagram, and various home renovation TV shows – some home shoppers are comfortable tackling home renovation jobs to find a home that balances their needs with their budget.”
Just over half of all respondents who said they would be willing to buy a home in need of some TLC, would also spend more $20,000 to make the home fit their needs.
The most common ‘expected’ renovation is a kitchen remodel which can run anywhere from $22,000 for a minor remodel to $66,000 for a major remodel.
This isn’t a new trend by any means. According to the Joint Center for Housing Studies at Harvard University, home improvement project spending reached a new high in 2018.
“Americans spent $336.9 billion on remodeling projects, up 7.4% from the $313.6 billion a year earlier.”
Home renovation television shows have given many buyers hope that they could renovate a home they can afford into their dream home!
Bottom Line
If you are one of the many Americans considering buying a home this spring, let’s get together to help you find a house with the potential to be your dream home!
Written on
Hello there, I discovered your website by way of Google even as searching for a
comparable topic, your site got here up, it
seems to be good. I have bookmarked it in my google bookmarks.
Hi there, simply was alert to your blog thru Google, and found that it’s really informative.
I am going to watch out for brussels. I will appreciate
in the event you proceed this in future. A lot
of other folks will likely be benefited out of your writing.
Cheers!
Written on
Thanks , I have just been searching for info about this topic for a long time and yours is the best I have
found out so far. But, what in regards to the bottom
line? Are you sure about the supply?
Written on
I savor, lead to I found just what I used to be having a look for.
You’ve ended my 4 day long hunt! God Bless you man. Have a
nice day. Bye
Written on
Way cool! Some very valid points! I appreciate you penning this
post plus the rest of the site is very good. https://www.usa-realtor.com
Written on
Hi there! I could have sworn I’ve been to this site before but after checking
through some of the post I realized it’s new to me. Anyways, I’m definitely delighted I
found it and I’ll be bookmarking and checking
back frequently! http://ironthundersaloon.com/
Written on
Hi there! I could have sworn I’ve been to this site before but after checking through some of the
post I realized it’s new to me. Anyways, I’m definitely delighted I found
it and I’ll be bookmarking and checking back frequently! http://ironthundersaloon.com/
Written on
What’s Taking place i’m new to this, I stumbled upon this I’ve discovered It absolutely
helpful and it has helped me out loads. I hope to give a contribution & assist different users like its aided me.
Great job.
Written on
Hi i am kavin, its my first time to commenting anywhere, when i read this paragraph i thought i could
also make comment due to this good post.
Written on
Great article! Thank you 🙂 http://tvtalent.org.uk/UserProfile/tabid/95/UserID/13053/language/en-US/Default.aspx
Written on
Howdy I am so thrilled I found your site, I really found you by
error, while I was looking on Aol for something else, Regardless I
am here now and would just like to say thank you for a marvelous
post and a all round enjoyable blog (I also love the theme/design), I don’t have time to browse it
all at the minute but I have bookmarked it and also added in your RSS feeds, so when I have
time I will be back to read a lot more, Please do keep up the great job.
Written on
Great story it is really. My friend has been searching for this info.
Written on
I?m not that much of a internet reader to bｅ honest bսt үour sites reaⅼly nice, keeр it սр!
I’ll go ahead ɑnd bookmark үour website to сome bacк down the road.
All the Ƅest