There are many reasons to gravitate toward move-in ready properties when house hunting. These properties are ready for use, while they might benefit from some cosmetic updates to make them appear more appealing. What's more, these homes are unlikely to need expensive upgrades for a very long time.
It's underrated to move into a home that doesn't require renovations. Not to mention the time and effort needed to consummate the sale and move your stuff to a new address, buying a new house and moving can be expensive.
Obtaining a mortgage can significantly impact your credit score, and making a five-figure down payment can deplete your savings. If you look for fresh credit to pay for a costly remodeling, you can take on too much debt from another loan. For a while, you'll most likely have to settle into your new house just as it is.
If you are looking for a move-in ready house that is worthy of an offer, look for these particular characteristics.
1. Contemporary Kitchen
Kitchen renovations are very expensive. Remodeling is usually more expensive than renovations, although aesthetics are subjective. It is more likely that you will wish to update the shape of an old kitchen and make your design vision a reality than to fix this space up to code without making any changes to its arrangement.
Renovating a kitchen is an expensive undertaking. In 2023, the average cost of a moderate midrange remodel in the United States was approximately $27,000, whilst a major premium redesign cost homeowners almost $155,000. The ROI of a project decreases with increasing expenditure.
Sellers who redesigned their kitchens recovered only 31.7%–85.7% of their initial costs before to marketing their residences. Remodeled kitchens might lose up to 70% of their original value when they are sold. Since the money that home sellers spent was more valuable than the money they received when they turned over the keys, these cost recovery figures will increase when adjusted for inflation.
A tastefully renovated kitchen brought in thirty cents on the dollar. While you can always remodel it, waiting a few years to enjoy it allows you to put off a costly home upgrade until you have more money saved up.
2. Remodeled Bathroom
Updating a bathroom typically costs less than renovating a kitchen. Even so, it's a blessing to move into a home with a usable bathroom.
Your daily routine will be greatly disrupted by the loss of your toilet and shower due to construction activity in this area. It makes sense to let the house seller replace the room's outdated fixtures, flooring, and furnishings, add features to make it more livable, and clean up the mess instead of you.
You won't have a feeling of satisfaction after finishing a project like this. Even yet, it's a success in and of itself that you were the final recipient of this makeover without having to endure any disruption to see it through.
Realtors estimate that just 71% of the cost of a bathroom makeover is recoupable in terms of resale value. Purchasing a home with a newly renovated bathroom at a 29% savings is an incredible deal.
3. Additional Bathrooms
A little over 65% of purchasers favor houses with two or two and a half bathrooms. The more, the better, but the price goes up as well. Sellers are aware of this. For this reason, people who install bathrooms plan to put their houses on the market in two years.
How much would the value of the home increase with a new bathroom? Since the new bathtubs won't even be 24 months old when you move in, the cost recovery for additions is a whopping 63%.
4. Full Thermal Enclosure
High-performance windows, sufficient insulation, and a tight building envelope make up a thermal enclosure. By reducing heat loss throughout the house, this technology improves the energy efficiency of the building.
Timber-framed homes eventually lose their airtight structure due to thermal expansion, and they develop cracks that require constant caulking in order to winterize. Unwanted air leaks can waste as much as 25% of the energy needed to heat a place.
Anywhere in North America, inadequate insulation might result in higher utility expenses. Inadequate insulation in important areas of the home, such as the attic and floors, when paired with air leaks, can raise annual energy expenses by 11%.
Windows make up about 8% of the external surface area of the house, although they account for half of the heat input or loss that occurs there.
It makes economical sense to purchase a home equipped with a full thermal enclosure system in light of the aforementioned statistics. It allows you to start saving energy as soon as you move in and spares you the headache of managing three home upgrades.
It is possible to confirm whether a house does a great job of keeping heat from escaping to the outside with the use of a home energy audit and professional home inspection.
You can employ a professional home inspector to find issues with a property, such as air leaks and selectively installed insulation, unless you choose to waive the due diligence contingency. Tests are performed by a home energy assessor to find out how much energy a house uses and where heat loss occurs in the residence.
It's possible that sellers who promote their homes as energy-efficient have previously hired an energy audit and made the suggested upgrades in response to the assessment's conclusions. Request supporting documentation to verify statements on the components of thermal enclosure systems.
The only thing better than move-in ready homes is the house of your dreams.
The only ways to live in your dream home are to renovate an existing property or to build your home from the ground up. Either option will be extremely expensive, so search for move-in ready homes as the next best thing. Now that you are aware of the most important aspects to consider, make an offer on any properties that fit these requirements so you can move into a long-term, loving residence.
