There is a continual demand for housing in theUnited States, and supply almost never meets demand. TheU.S.has over 60 million homes that are at least 25 years old and 24 million are between 16 and 25 years old. That makes for a lot of older houses that need improvements. In addition, there’s a home improvement industry that’s only getting bigger which makes this process ever easier.
Buyers today want kitchens and bathrooms that fit a more casual lifestyle. Houses that are built today have large kitchens and more elaborate bathrooms. Older houses lack these features and are therefore passed over by buyers.
Today’s time strapped buyers are looking for homes they can move into without having to remodel or improve. But many homes are run down and don’t sell. That’s where improvement and remodeling come in. The right purchase and the right improvement can equal big profits when the home meets the expectations of a new buyer.
If you are time challenged, the best bet is to purchase a home in a good location and live in it while you make improvements yourself on your own schedule. If you have time, you’re in a good position to do the work yourself for quicker turn around time, or hire the work done. You profit either way.
Money is also an obvious factor. Investing requires capital.
If you like working with your hands and tools, this is right up your alley. If not there’s more than enough on the strategy end to keep you busy.
Most important after how you do all this is why. Finding a home that is below its true market value and making improvements that increase its value is what it’s all about.
Please note that this Scottsdale Real Estate Blog is for informational purposes and not intended to take the place of a licensed Scottsdale Real Estate Agent. The Szabo Group offers first class real estate services to clients in the Scottsdale Greater Phoenix Metropolitan Area in the buying and selling of the best Luxury homes in Arizona. Award winning Realtors and Re/MAX top producers and best real estate agent for Luxury Homes in Scottsdale, The Szabo group delivers experience, knowledge, dedication and proven results. Contact Joe Szabo at 480.688.2020, [email protected] or visit www.scottsdalerealestateteam.com to find out more about Scottsdale Homes forSale and Estates forSale inScottsdale and to search the Scottsdale MLS for Scottsdale Home Listings.