Turnkey real estate is a relatively new term meaning that a home or rental is move-in ready. What does this mean? The home that is listed as a turnkey means that there are no immediate repairs to be done for the new owner. Depending on the seller, it could also mean that all appliances are up-to-date and in working condition. It’s important to check with your real estate agent to clarify what the specific home includes if it is described at a turnkey house. So what makes this style of purchasing so popular in Central Florida?
Purchasing a turnkey property allows you to budget for the fully completed house at a fixed price. Eventually you will have to put time and money into any home you purchase, but with turnkey homes you have no extra costs for fixing up the place. There are rarely any surprises when it comes to the financial side of the turnkey market.
Turnkey homes can be the perfect fit for people who are not Do-It-Yourselfers. Some buyers have to hire someone to come in and design or renovate the home while they live there or before they can move in. With turnkey homes, the work is already done and all that is needed are your personal items to make it your home. Builders often use design experts to ensure that the turnkey homes are ready for move in with the freshest color schemes and have the latest technologies.
With turnkey properties, you won’t assume much of any risks which can help if you’re with limited cash resources. A lot of times, if the house has just been renovated, investors put their time and money into the property so that the purchaser does not have to. It’s nice for first timers because it is move in ready, something that Millennials find desirable.
While turnkey properties can be very desirable, they are not for everyone. It’s important to review everything that comes with the property, do your own research on turnkey properties and speak with a professional like Loretta Maimone. Our team would be happy to discuss what option would best fit your needs and help you find your dream home in Central Florida.