Imagine your North Carolina home has been on the listings for a while and finally you receive an offer. But this isn’t just any typical offer – the buyer wants everything ready in the home when they buy.
Everything meaning it includes all the repair work is done, all upgrades completed, all the couches, curtains, kitchen table, and chairs, and everything else that makes a home, a home is there, ready for the owner to use. It sounds like the perfect deal, but are you really sure?
A home that includes everything inside and is ready to be moved in is known as a Turnkey Home and for most sellers, it may be the best offer. But for buyers, the same cannot be said because you need to be very careful.
Are the repairs actually been completed? Is the home really, really ready to move in? There are a lot of things that the seller may have tried to hide when selling the property as a turnkey home, so as a buyer, think twice because you’ll be paying a premium for this property.
What’s it Like For Sellers of Turnkey Homes
- As a seller, you may choose to inflate the cost of the furniture and other repairs and accessories you used to turn your property into a turnkey, but selling fully furnished can also sometimes cost you a lot more.
But the good news is that adding the term turnkey to your property actually makes it quite attractive to investors. They don’t want to waste time on repairing the home or upgrading things so that they can re-sell.
- With a turnkey home, they can literally purchase the property and immediately put it up for rent. The best bit? The investor will likely find a tenant faster this way which means he will start getting his ROI sooner.
As a seller, turnkey homes are convenient. Imagine having to remove heavy furniture like a 20-foot-long dining table and making other significant changes in the home. With a turnkey property, you can keep everything inside and put it on sale as long as the condition of the things is good and they are in working condition.
What’s it Like for Buyers of Turnkey Homes?
- For buyers, the first thing that you need to accept is that you will have to pay a premium for a turnkey home. Imagine all the hard work the seller has gone through making sure everything is in working order before selling the turnkey property. They have every right to increase the selling price of the home based on the effort they put in and the convenience it will give you.
But the good news is that if you are buying a turnkey home for investment purposes, you’ll always end up getting more value out of it because these homes usually have more value in the market. This is true for high-end homes, especially where the previous owner may have even hired an interior designer to make the home look perfect.
- The turnkey property offers as much convenience to you as it does for a seller. Think of how much of an effort you will be able to look past by buying one of these. You won’t have to make endless trips to home improvement stores and services to get everything ready in the home because it has already been sorted by the seller.
Looking for Turnkey Homes in North Carolina?
- North Carolina is the perfect place to invest in turnkey properties especially due to its large military neighborhoods. You get more value whenever you invest in a home that is in one of these neighborhoods.
For more help or turnkey home listings, get in touch with Turnkey Military today. We’ll help you make a safe investment no matter where you are from.