Darnella Real Estate

Darnella Real Estate

For Exceptional Real Estate Services Call
925-207-8211
CA DRE Broker #01117484
Para Español Oprima Aqui
  • Home
  • About
  • Sellers
  • Buyers
  • Search For Properties
  • Real Estate Services
    • REO Services
  • Blog
  • HUDHomeStore.Gov
    • HUD Homes for Sale
  • Contact
  • San Jose
  • Morgan Hill
  • Gilroy
  • San Martin
  • Antioch
  • Brentwood
  • Pittsburg
  • Oakley
  • Concord
  • Pleasant Hill
  • Martinez
  • Livermore

Low Inventory can mean buying a home that needs TLC

April 30, 2019 By Darnella Aulani, Real Estate Broker

According to a new survey from Move.com, the wave of first-time homebuyers hitting the market this summer has resulted in an interesting statistic. Nearly 60% of buyers searching for a home this spring are willing to consider buying a fixer-upper, with 95% believing that the projects needed will increase their new home’s value!

Realtor.com’s Chief Economist, Danielle Hale, pointed to low-inventory at the entry-level price range for the increase in willingness to renovate.

“The combination of rising home prices and limited entry-level homes for sale is prompting many home shoppers to consider homes that need renovating.

Replete with inspiration at their fingertips – like Pinterest , Instagram, and various home renovation TV shows – some home shoppers are comfortable tackling home renovation jobs to find a home that balances their needs with their budget.”

Just over half of all respondents who said they would be willing to buy a home in need of some TLC, would also spend more $20,000 to make the home fit their needs.

The most common ‘expected’ renovation is a kitchen remodel which can run anywhere from $22,000 for a minor remodel to $66,000 for a major remodel.

This isn’t a new trend by any means. According to the Joint Center for Housing Studies at Harvard University, home improvement project spending reached a new high in 2018.

“Americans spent $336.9 billion on remodeling projects, up 7.4% from the $313.6 billion a year earlier.”

Home renovation television shows have given many buyers hope that they could renovate a home they can afford into their dream home!

Bottom Line

If you are one of the many Americans considering buying a home this spring, let’s get together to help you find a house with the potential to be your dream home!

Filed Under: Buyer Resources, Real Estate Blog

Darnella Aulani, Broker
Darnella Aulani, M.ED. , Director for Life
Broker #01117484
  • Contact
  • About

Certified Woman-Owned Business and Certified Minority Woman-Owned Business

nawrb

Find Your Dream Home

  • realtor
  • abr
  • gri
  • abrm
  • sres
  • crs-updated
  • areo
  • equal-housing
  • nwr
  • crb
  • pmn
  • cca
  • CBA_200

Contact & Location

Darnella Real Estate - San Jose
22 Great Oaks Blvd, Suite 200
San Jose, CA 95119
PH: (925) 207-8211
CA DRE Broker #01117484

Darnella Real Estate - Antioch
3731 Sunset Lane, Suite 207
Antioch, CA 94509
Ph: (925) 777-1770
Fax: 925-848-2030
CA DRE Broker #01117484

Client Tools & Access

  • Client Login
  • Create an Account
  • Sign Up for Email Updates
  • Mortgage Calculator
  • Darnella Real Estate Blog

Real Estate Search Tools

  • Basic Property Search
  • Advanced Property Search
  • Property Address Search
  • Property Map Search
  • Rental Search

HUD Homes Information

  • HUD Homes for Sale

Certified Women-Owned Business
Certified Minority Woman Owned Business

nawrb

Copyright © 2023 · Darnella Real Estate · All Rights Reserved · Site By Clifton Creative Web