More buyers considering homes that need remodeling

What do entry-level buyers do when inventory is limited and prices are rising? Simple: They become more open to purchasing a home in need of renovations. Here are the numbers from a recent Realtor.com^® survey¹:

• Over half of respondents are considering a home that needs work (and plan to spend at least $20‚000 on renovations).
• However‚ less than a third of buyers 55 and over said they would consider a property that needs work.
• Among those who plan on buying in the next year‚ 95% are confident that they will see a return on their remodeling investment.

Please contact me if you have any questions.

¹Steve Randall‚ “Renovations are in fashion for 2019’s homebuyers‚ says Realtor.com‚” Mortgage Professional America‚ last updated April 17‚ 2019.