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Market Trends: Buying a Remodel or a Fixer Upper

Palos Verdes California is experiencing an influx of ‘baby boomer’ homes coming onto the marketplace. These homes offer a unique opportunity for prospective home buyers. Whether you’re a first-time buyer, or investor, these older, often never-remodeled homes can be a great opportunity for the buyer desirous of building their dream home, or for an investor looking to flip.

“We are seeing many elderly couples leaving their homes here in PV which yields a perfect moment for first time home buyers and investors alike to purchase homes in top neighborhoods at a competitive price,” states realtor Lynn Kim. Often times, many of the baby boomer homes haven’t seen a remodel in many years which can mean the seller will price the home at a lower cost than most comps in that neighborhood to be competitive. This creates a nice environment for first-time buyers to afford a home in the neighborhood they desire at a lower price- if you’re willing to put in the work on a remodel. After all, making necessary fixes, and updating kitchens and bathrooms will always add value to the property for a nice return on your investment if you decide to sell.

For the investor or builder looking to do a flip, these houses can be an ideal scenario. Finding an investment home in these sought-after neighborhoods at competitive prices creates favorable circumstances for a fast flip in a real estate market that is hot.

At the end of the day, it’s just sometimes better for the individual to leave the remodel to the experts. A move-in-ready home may better fit the lifestyle of busy professionals and young families vs. dealing with the time, stress, and mess of a full remodel. Being experts on the “Hill”, Lynn Kim and her real estate team, are committed to helping interested buyers decide which purchasing options work best for them.

These homes move fast and are sometimes even sold off-market, so working with an experienced realtor like Lynn Kim Real Estate will help you fully understand what each of these decisions can mean for your time, and finances as well as give you peace of mind.

For more information on this trending opportunity, please contact Lynn Kim at 310-741-2642.