Kansas City home buyers look toward fixer uppers in competitive market
This morning I was on 41 Action News - KSHB-TV to talk about Kansas City home buyers looking at fixer uppers in this competitive seller's market. Here's a recap:
Why are we in a sellers market?
Interest rates are historically low still
More millennials are entering the housing market after delaying home ownership longer than any other generation
The pandemic created a demand for more space
Things to think about when buying a fixer upper
Don’t skip the inspection! Take this time to find out the true condition of the home AND get bids for the big stuff.
Always have a buffer built into your overall renovation budget. Surprises happen!
Call your local lender to talk about renovation loan options to help finance your project
Be patient! There were 45% more homes on the market in April 2021 than there were April 2020.