HRI Blog

When searching for a home, a common question asked by realtors is “Do you prefer a move-in ready home or a fixer-upper?” Some buyers have set in their mind that they want to put the sweat equity into a home themselves to have the satisfaction of knowing they’re getting everything they want, while some don’t want to lift a finger. While there are definitely pros to buying a fixer-upper (lower cost, ability to tailor the home to your liking, etc.), there has been an increase in demand for turnkey homes, and for good reason.

Appeal of Turnkey Properties

Turnkey properties offer the convenience to move right in, which is a massive appeal to buyers these days. Many prefer to walk in the door and start living, rather than having to worry for months about the ongoing projects being done on their house. Turnkey homes also typically come upgraded with the newest design elements and technologies that buyers are after, such as open floor plans, big kitchens, smart technology, speakers and more. While you may not get everything you desire, if you find a move-in ready home that checks off most of your boxes, the convenience of it much more than makes up for missing out on a few design features.

Increase in Demand for Turnkey

Buyers today are more willing and able to pay more for a home that is essentially move-in ready, compared to spending less on a house that requires updating. The idea of putting the time and energy into a fixer-upper has lost its appeal over the past 10-20 years. This is largely due to the fact that buyers simply don’t have the time, energy or expertise to put into a renovation. People are busy these days, working countless hour jobs, raising families, participating in various activities, that not many buyers have the desire anymore to worry about tackling a full-blown restoration in the little free time they do have.

Which is right for you?

Buying a move-in ready home does come with its downsides. These properties are more expensive than ones that need work, for obvious reasons. Unless you luck out on your ideal home that’s already been built for you, you’re most likely not going to get everything you want with a move-in ready home, whether it be a granite countertop or walk-in closet. You have to decide, however, if these sacrifices are worth it to you and your family. If you love a good project, have the spare time, and can envision your dream home in your mind, take the leap and go for the fixer-upper. On the other hand, if your time is precious, you have no interest or experience in home projects, or just don’t have a major preference on the design choices in your home, locating that perfect move-in ready home is probably more your speed.

Whatever you choose, make sure you put your stamp on it so that it feels like home to you. Let us help you locate your dream home in the Oahu area today!

During the resale of a home, diligent marketing and negotiations by your real estate agent are crucial, but they are only one part of the equation. When you’re selling a home in Oahu or Maui, you should try to go the extra mile to make your home as presentable and appealing as possible to potential buyers. Taking care of these eight items can help you to sell your property quickly and maximize your closing price. 

1. Landscape

Unkempt landscape may cause potential buyers to believe you haven’t taken care of your home, and this perception can dissuade people from making offers. During the resale process, mow your lawn and trim your hedges regularly to keep greenery tame and polished. Use this opportunity to add new plants, including colorful flowers or bushes. These touches make a fresh first impression that will set the stage for effective showings. 

2. Make Repairs

When you move into a new home, the last thing you want to do is perform repairs. Your house can become much more appealing to buyers if you take on those necessary fixes yourself. It’s possible that some issues may be uncovered during a home inspection, and you might be required to fix them before moving ahead with the contract anyways. You can save yourself this stress and encourage higher offers by doing repairs ahead of time. 

3. Deep Clean

No one wants to think about dirt and grime left over from the previous homeowner. A deep clean makes your house seem brand new for the next occupant, and removing offensive odors and stains will ensure that you’re putting your best foot forward. Focus on the following key areas: 

• Dusty nooks and corners
• Plumbing fixtures
• Appliances
• Countertops
• Floors

Though your furniture will likely be coming with you, it’s a good idea to wipe down or vacuum these pieces as well. Cleanliness overall can greatly enhance your home’s presentation. 

4. Repaint 

You’ve likely personalized the rooms in your home with your favorite paint colors and treatments, but some buyers may not share in your style. Homeowners want a blank slate to which they can add their own flair; choosing a nice neutral to repaint allows potential buyers to put their own imaginations to work.

If your walls are already fairly neutral, a fresh coat of paint still isn’t a bad idea. Over the years, the surface may have been chipped or scuffed, and it might even appear dull. Repainting can make a room feel like new! 

5. Remove Personal Items

There are obviously many things you’ll need to continue living in your home as it sells, such as toiletry items or office supplies, but it’s a good idea to tuck them neatly away in cabinets or drawers during showings.

Take down personal photographs, bulletin boards or household calendars. Personal items like religious décor, sports memorabilia, or anything else in which your buyers may not share your preferences, should be minimized or put away. Remember to clean up the surface of the refrigerator, too, removing things like coupons, magnets or pictures!

6. Launder Linens

Fabric alone won’t sell your home, but clean, fluffy linens can make the home more calming and comfortable. Fresh bathroom linens, including full-sized towels, hand towels and bathmats spruce up the environment and make it more inviting. Take a day and launder items throughout your house:

• Towels
• Bedding
• Curtains
• Throw blankets
• Pillow cases

As you prepare house to sell, consider the tasks you might perform if you were welcoming a guest to stay in your home. Fresh linens make visitors want to stay. 

7. Prioritize Curb Appeal

The first thing buyers see when they view your home is the exterior. To improve your home’s curb appeal, make sure the yard is clean and empty. You can freshen up siding by repainting it, and stone or brick can undergo a power wash. Small touches, such as planters, welcome mats or benches can give a front porch a more hospitable feel. Make sure your buyers want to come inside based on what they see outside!

8. Organize 

Potential buyers want to get a feel for your home’s storage options, so they may peek into closets, cabinets and drawers to see what the house has to offer. An accumulation of junk can quickly turn people off! Additional shelving and storage bins are a good investment to help bring order to the chaos of everyday life, and they can give your living areas the impression of greater storage capacity. 

You’ll be amazed by the transformation your home can undergo when you take these crucial steps. Freshening up your property will help buyers visualize its potential and imagine their own future in your home. If you’ve got your home in tip-top shape to hit the market, or if you’re just thinking about your options, contact us today to learn more about selling a home in Hawaii.

The Oahu real estate market report is in and the market remains very strong!

A key indicator of market conditions is the months supply of inventory. This is basically the balance between supply and demand. It's been in a range between 2-3 months of inventory for a few years now. Meaning that if no new listings came to market that inventory would be fully depleted within 2-3 months. This is historically a very low inventory level and seems to be rangebound. 

For you potential Sellers out there now may be the best time to sell. The number of active listings is at the higher end of the range since 2016 and with rates moving up along with prices, Buyers may begin to think twice about the overall cost relative to their budget. 

Interestingly the days on the market (DOM) statistics for higher priced single family homes ($1.9 million and up) has been declining since January of 2017. At that time DOM was just shy of 80 days  and now it's 44 days, perhaps indicating that higher end home buyers are becoming more confident and aggressive. 

The Kailua real estate market continues to be a strong one!

Single family home median sales prices climbed 8% over June 2017 while unit sales were lower by 24%. The median days on the market for a single family home was only 9 days and on average the sales price was 100.4% of the listed price. 

Condo median sales prices were up 22% over the same month last year!

Using our unique strategies over 95% of our clients offers are accepted by Sellers even when multiple offers are received!

Call today if you're in the market to buy or sell.