Living • June 5, 2025

Tips for Home Pest Control and Prevention

by Don Koonce

Any evidence of a pest infestation is a bad omen for homeowners. The last thing you want on your mind is the thought that critters could be crawling through your home, wreaking havoc as they go. Being proactive about home pest control can help you prevent an infiltration, and knowing what to do at the first signs of pest activity will help you limit the damage they cause.

Tips for Home Pest Control

Being a homeowner comes with the responsibility of protecting your property. Whether it’s a home security system to deter home burglaries, regularly cleaning to prevent mold growth, or testing for asbestos, you’ve got a lot on your plate. But these aren’t just nagging to-do-list items, they are important proactive steps that will help you avoid costly repairs. Preventing pests is no different; even the smallest bugs can do big damage. So, how do you stop them?

The best defense is a good offense, and keeping pests from getting inside will help reduce the damage they can cause. Though you may not be able to shut out every single bug, you can make it difficult for them. Cover holes with durable materials like steel wool and copper mesh to keep them out. Check all the seals and weatherstripping around your doors, windows, and on your roof, re-caulking as necessary to make them airtight, and patch up sections of torn window screens with new screen material. The gardener in you may enjoy the flourishing look of your plants, trees, and shrubs fully grown out, but if they’re touching your home’s siding or roof, it’s basically a highway express lane for pests headed indoors. Trim all landscaping away from your home to limit pest traffic and reduce your chances of them causing damage to your home.

A closeup of someone’s hands doing home pest control prep work by caulking a new seal below a window.

Image Source: Getty Images – Image Credit: StepPro

DIY Pest Control

Extra garbage, leftover food, and plumbing leaks will attract pests. Regularly take out your trash and dispose of compostable food scraps to keep the bugs at bay. If a leak springs, it’s like a magnet for certain pests looking to capitalize on the damage. This emphasizes the importance of taking steps to prevent water damage in your home and quickly repairing leaks when they happen.

If you plan to use pesticides in your home to deter ants, bugs, and other pests, do so safely. Visit the Environmental Protection Agency (EPA) online for tips on how to correctly use pesticides in your home.

You can also use common pantry items to deter pests. A mixture of water and an essential oil like peppermint, lemon grass, or cedarwood sprayed along windows and doorways is a natural way to repel bugs. A little apple cider vinegar with dish soap in a small cup will help you attract and catch fruit flies, whipping up a quick white vinegar-and-water mixture will quickly clean up messes pests leave behind, and the strong smell of coffee grounds is powerful enough to stop them in their tracks. Learn more about how these food products can help you get your home sparkling clean:

6 Natural Cleaning Solutions for Your Home

If pests have gotten in your home and started causing damage, it very well may be too late for DIY preventative measures like these. In these situations, it’s best to contact a local licensed professional to exterminate as needed. Depending on the extent of the damage, you may be temporarily displaced from your home. Be sure to plan ahead if that’s the case.

For more information on home maintenance, read the following blog post on preventing mold growth:

How to Prevent and Deal with Mold

Featured Image Source: Getty Images – Image Credit: AndreyPopov

Design • June 3, 2025

5 Defining Elements of Moroccan Interior Design

by Don Koonce

For centuries, Morocco has captivated people from around the world with its rich tapestry of culture, art, and unmatched design. From the lively souks of Marrakech to the serene riads of Fes, Moroccan interiors tell a story of intricate craftsmanship, vibrant colors, and a blend of tradition and global influence.

In this post, we’ll look at the influences behind Moroccan design and explore how you can bring its distinct style into your home.

Influences of Moroccan Design

Moroccan interior design is rooted in ancient tradition and draws from various cultural influences, including Berber, Arab, Mediterranean, and Moorish. This fusion creates a warm, layered aesthetic that pairs detailed patterns with earthy textures and natural materials. You’ll often find colorful tilework, bold textiles, and handmade pieces that reflect centuries of artistry and heritage. And though this style is steeped in history, it remains timeless, seamlessly blending into modern homes while adding warmth, character, and a global touch to any space.

Key Elements of Moroccan Interior Design

Vibrant Colors

Moroccan design is synonymous with a vibrant and expressive color palette. Think of the dazzling blues of Chefchaouen, the rich reds and oranges of Marrakech, or the natural greens found in traditional gardens. Don’t be afraid to experiment with jewel tones like emerald green, sapphire blue, and ruby red, which you can balance with more neutral tones like terracotta, cream, and black to create a harmonious blend that pops. Even the most muted Moroccan room will feature a splash of something bold, whether in the tiles, lanterns, or layers of fabric.

Layered Textures

From olefine and wool rugs to carved wooden furniture and hand-woven baskets, texture is everywhere in Moroccan interiors. Plush, overstuffed cushions and floor pillows bring comfort to seating areas, while airy curtains soften windows and doorways. The thoughtful use of natural materials like clay, metal, leather, and stone gives each space a grounded, organic feel. This layered approach, combined with the intricate patterns and ornate detailing, provides a richness and depth that defines Moroccan design.

Mosaic Tilework

One of the most recognizable elements of Moroccan design is its stunning mosaic tilework, known as zellige. These hand-cut, geometric tiles are meticulously arranged to form intricate patterns that adorn walls, floors, and fountains. Each zellige piece is a testament to centuries-old craftsmanship, bringing a unique sense of artistry and a cool, refreshing feel to any space. Tiled floors are frequently layered with Persian or Berber rugs. At the same time, fireplaces, kitchen backsplashes, and bathroom walls may feature elaborate tilework that feels artistic and architectural. Incorporating zellige in your home, whether as a subtle accent or a vibrant statement, can instantly infuse an authentic touch of Moroccan design.

Riads and Courtyards

The word “riad” means “garden” in Arabic. In Moroccan architecture, a riad refers to a traditional home built around a peaceful interior courtyard. These courtyards are often the heart of the home, featuring tiled fountains, lush greenery, and shaded sitting areas. To replicate this feeling, consider making a designated “courtyard” area in your home by incorporating a small water feature, a collection of plants, and comfortable seating that fosters a sense of tranquility and connection to the outdoors.

Artisan Accessories

No Moroccan interior is complete without a variety of handcrafted accessories. From ornate brass lanterns and pierced-metal sconces to hand-thrown pottery and embroidered pillows, each piece tells a story that celebrates Morocco’s deep tradition of craftsmanship, giving your space a layered, lived-in feel that reflects both style and soul.

By bringing these 5 key elements into your home, you can create a space that feels soulful, timeless, and uniquely yours. For more design inspiration, tips, and trends, visit the design section of my blog.

Interior Design • May 29, 2025

Protecting Your Home’s Air Quality

by Don Koonce

Most of us tend to think of air pollution as something that occurs outdoors where car exhaust and factory fumes proliferate, but there’s such a thing as indoor air pollution, too. Since the 1950s, the number of synthetic chemicals used in home products have increased drastically, while homes have become much tighter and better insulated. As a result, the EPA estimates that Americans, on average, spend approximately 90 percent of their time indoors, where the concentrations of some pollutants are often two to five times higher than typical outdoor concentrations.

Luckily, there are many ways to reduce indoor air pollution. We all know that buying organic and natural home materials and cleaning supplies can improve the air quality in our homes, but there are several other measures you can take as well.

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Living • May 27, 2025

What Goes Into Owning a Waterfront Home?

by Don Koonce

A waterfront home offers surroundings unlike any other. Their prime locale and stunning views virtually guarantee a lifetime of relaxation, waterfront get-togethers, and summer nights under the stars. Waterfront homes have great potential as investment properties as well. But for all the perks waterfront homeownership offers, it comes with its own set of responsibilities, too.

Should I buy a waterfront home?

Beyond the lifestyle benefits, owning a waterfront home also has a significant financial upside. Because waterfront properties are more scarce than landlocked homes and their location is highly desirable, the buyer demand is generally high. As a homeowner of these special properties, you can rest assured that a well-maintained waterfront home will generate significant buyer interest when you’re ready to sell. A property with any combination of water views, boat slips, docks, and water access is a recipe for appreciation over time.

A waterfront property is a popular choice for homeowners who are in the market for a second home, or even as a primary residence for those looking to eventually move into their vacation home when the time is right. They’re also primed for converting into a short-term rental. Due to their location, they have a competitive advantage over many other short-term rentals. Depending on the local laws and any relevant Homeowners Association rules, waterfront homes can be rented out year-round or seasonally. For example, if you decide to rent out your home during the summer, you’re able to capitalize on seasonal demand.

Designing Your Rental to Feel Like Home

The dining room of a waterfront home, decorated with white traditional chairs and dinner table. The wall facing the lake is one large window with a view of the backyard and the lake just beyond it.

Image Source: Getty Images – Image Credit: bradwieland

Owning a waterfront property also comes with extra risks you’ll need to keep in mind. Weather conditions can be extra harsh on these homes, given the fact that they’re situated face to face with nature in a way most homes aren’t. Make sure you have proper coverage through your homeowners insurance policy and inquire about the need to purchase additional wind, flood, or hazard coverage. Local climate dictates what a comprehensive coverage plan will look like for your home, but what’s important is that you’re fully covered.

Something else to keep in mind is that beyond the typical tasks associated with owning a home, waterfront structures like retaining walls, boat lifts, and docks require a certain amount of ongoing maintenance. As the seasons change, so will your responsibilities as a homeowner. Properly winterizing a waterfront property requires a few additional steps beyond the typical routine, depending on how low temperatures dip during winter in your area.

Featured Image Source: Getty Images – Image Credit: Markanja

Buyers • May 22, 2025

Real Estate Contingencies: What They Are and Why They Matter

by Don Koonce

Imagine a home-buying scenario where you make an offer, the seller immediately accepts, and everything goes smoothly until you’re handed the keys. It’s possible, but more often, buying a home involves negotiation, counteroffers, and a back-and-forth dialogue between buyer and seller to reach a deal. And in some cases, the deal can fall through.

That’s where contingencies come in.

Contingencies are built-in protections within a real estate contract. They help both buyers and sellers navigate the natural ups and downs of the home-buying process by setting clear conditions that must be met for the sale to go through. For buyers, they also provide important safeguards, along with strategic tools to shape and strengthen their offer. Whether you’re a first-time home buyer or you’ve bought before, you should be aware of common real estate contingencies and the role they play in making an offer on a home.

Making a Contingent Offer on a Home

Once you and the seller agree on the price of a home, both parties have certain responsibilities before closing. Buyers are responsible for securing financing, scheduling a home inspection, and getting the property appraised. Sellers are responsible for prioritizing the offer on the table and opening their doors to the home inspector when the time comes. The agreed-upon contingencies included in the contract define what happens if something doesn’t go as planned.

Contingencies present a spectrum of options to home buyers, allowing them to walk away from a real estate transaction with their earnest money intact or renegotiate the contract. And while including contingencies offers protection and negotiation leverage, removing them can be an effective strategic move too, especially in a competitive market.

In a seller’s market, competition amongst buyers is high, and they often face multiple-offer situations. It’s not uncommon to see escalation clauses, bidding wars, and all-cash offers as buyers try to stand out and strengthen their position. To sweeten their offers in such market conditions, buyers will typically waive their contingencies. However, while waiving contingencies can make for a more attractive offer, it also presents increased risk due to lack of protection. That’s why it’s necessary to understand each contingency and carefully consider what makes the most sense for your situation.

Common Real Estate Contingencies

Home Inspection Contingency

After you’ve made an offer, a professional home inspector will thoroughly examine the property before the deal is finalized. If issues are uncovered, this contingency allows you and your agent to request repairs, present the seller with a new offer that accounts for the home’s lessened condition, or cancel the contract entirely.

Financing Contingency

Also known as a “mortgage contingency,” a financing contingency gives the buyer a specified period of time to secure adequate financing to purchase the home. Even if you are pre-approved for your mortgage, you may not be able to obtain the right loan for the home. If you are unable to finance the purchase, this contingency allows you to back out of the contract and recover your earnest money, and the seller can re-list the home.

Appraisal Contingency

An appraisal contingency states that the home must appraise for, at minimum, the sales price. In other words, it is to make sure the home is worth the agreed-upon price. It allows you to walk away from the deal if the property’s appraised value is lower than the sales price and typically guarantees that your earnest money will be returned.

Home Sale Contingency

If you’re buying a new home while selling your current one, you may want to include a home sale contingency in your offer. This contingency specifies the date by which you’ll need to sell your current home in order to move forward with your offer. If you don’t sell your home by the specified date, the contract is terminated. Home sale contingencies are financially appealing in that they allow buyers to use the proceeds from their home sale to fund their new home purchase. However, these contingencies force sellers to wait until the buyer’s current home sells, which means they likely won’t accept such offers in competitive markets.

Title Contingency

Before the sale of a home goes final, a search will be performed to ensure that any liens or judgments made against the property have been resolved. A title contingency allows you to raise any issues you may have with the title status of the property and stipulates that the seller must clear these issues up before the transfer of title can be completed. If an unpaid lien or unpaid taxes turn up in the home’s title search, this contingency also allows you to back out of the deal and look for another home.

SOLD • May 20, 2025

SOLD: Bridle Trails Home in Bellevue

by Don Koonce

New Listing Under Contract

4601 140th Avenue NE
Bellevue, WA 98005
$2,195,000

Beds: 4
Baths: 3
Size: 2,790 sqft
Year Built: 1974
Lot Size Area: 35,719.00 sqft
Garage Spaces: Yes
Heating: Forced Air

This four-bedroom home features large windows throughout to bring in tons of light and show off the mature landscaping. Other features include a spacious eat-in kitchen with ample counter space and storage, that opens to an entertainment sized deck. The formal dining room overlooks the private backyard with barn and pasture. Sizeable living room and family room with cozy gas fireplace, two car oversized garage and loads of driveway parking. Recent upgrades include fresh interior paint, and new kitchen appliances. Close to Bridle Trails State Park, Bellevue Golf course and numerous dining and shopping options.

Real Estate News & Information • May 15, 2025

Local Market Update – May 2025

by Don Koonce

Our local real estate market is seeing sellers flood the landscape with listings, but buyers aren’t diving in. Despite double-digit increases in active listings across the board, sales declined in all four regions—possibly signaling buyer caution amid ongoing national economic uncertainty. This complete 180 in supply and demand compared to last year’s intensely competitive market is already impacting price growth—but by how much, and for how long, remain key questions in the months ahead.

King County home prices rose 5% year over year, bringing the median to $1,030,000 in April. Active listings surged 70%, significantly boosting inventory. Buyer activity, however, slowed: pending sales dropped 9% and closed sales fell 2%. Still, 67% of homes sold at or above list price, showing that well-priced listings continue to attract competition. King County condo prices held steady at a median of $579,950, while active condo listings rose 74%.

Seattle homebuyers remained competitive last month, with 65% of residential sales closing at or above list price—even as active listings climbed 47% from a year prior. However, pending sales fell 7%, suggesting increased caution from buyers. The median sold price for single-family homes reached $1,025,000, up 3% from 2024. Seattle condo prices were flat at $598,000, while active condo listings also rose 47%.

The median sold price for Eastside homes edged up 1% compared to last April, to $1,697,500. Even with a staggering 125% increase in active listings, demand remained strong: 92% of homes sold within 30 days, and nearly 75% closed at or above asking price. Still, pending sales dropped 15% and closed sales dipped 3%. Eastside condo prices rose 4% to a median of $754,500, while active condo listings skyrocketed by 165%.

In Snohomish County, April’s median residential sold price held steady at $799,950, virtually unchanged from last year. The share of homes selling at or above listing price fell to 65%, down from 76% last year – likely a response to the 79% jump in active listings. As inventory rose and prices plateaued, 84% of homes sold within 30 days, but the county saw a 4% drop in pending sales compared to 2024. In the condo market, the median price declined 2% and active listings soared 113%.

As we move deeper into the traditionally busy real estate season, the disconnect between supply and demand will be a key trend to watch. Buyers may remain hesitant until broader economic signals stabilize, while motivated sellers continue to drive up inventory. Whether prices hold, soften, or climb will likely depend on which side makes the next move. In a market this fluid, having a trusted real estate expert on your side makes all the difference. For guidance tailored to your goals this season, connect with your Windermere advisor today.

Click here to read more.

Sellers • May 13, 2025

A Step-by-Step Guide to a Smooth and Successful Sale

by Don Koonce

Navigating everything involved with selling your home can seem intimidating. Breaking the process down step by step will keep you organized and ready to work with your agent toward a successful home sale.

1. Choose an Agent

A lot goes into choosing the right agent. If you’re unsure where to start, get referrals from trusted friends, family, and neighbors. Although the ultimate goal is the sale, think about your compatibility outside of the transaction. Their ability to connect with you on a human level through the ups and downs of a home sale is just as important as their expertise and knowledge of the market.

Pro tip: Look for someone who communicates the way you do—whether that’s testing, emailing, or good old-fashioned phone calls. Feeling heard and understood can make all the difference in building trust and making the process more enjoyable.

2. Set a Timeline

Depending on your local housing market conditions, your timeline for selling your home may vary. However, a timeline is valuable in that it will keep you organized throughout the selling process and allows you to adjust if circumstances change. Your agent will work with you to build the ideal timeline, one that reflects your personal goals, the local marketplace, and any milestones you may be working around. Having a clear plan reduces stress and ensures everyone is on the same page.

3. What is Your Home Worth?

The key to selling quickly is correctly pricing your home from the first day it hits the market. In particular, overpricing can lead to serious complications in the selling process. Your agent can provide you with a Comparative Market Analysis (CMA) to better determine the best price of your home. CMAs provide information on comparable home sales in your area, both pending and sold, within the past six months.

While an agent will always have the best information, you can also explore your home’s potential value with our real-time automated value estimate tool before connecting with your agent. Our seller page features home values and market information about what buyers are looking for in your area.

4. Repair & Upgrade

Now it’s time to get to work on the house! This is the perfect time to tackle any and all outstanding projects or repairs. Create a list separating which repairs can be done yourself and which need professional attention. This is also a great opportunity to consider a pre-sale home inspection to identify structural and mechanical issues or outdated features that could benefit from attention. Even small updates can go a long way—especially those that boost energy efficiency or add smart home appeal.

5. Make the Best First Impression

Creating a strong first impression can have a lasting impact on buyers, so roll up your sleeves and prepare to check off that to-do-list. Start by cleaning up the garden and lawn, clearing out gutters, and adding color to your flower beds. Apply a fresh coat of paint anywhere you spot peeling or cracked paint. A great way to make an impact is by staging your home, with the goal of making each room feel as spacious and welcoming as possible. Professional photography and even a little social media buzz can make your home stand out from the start.

6. Show Your Home

Discuss virtual home tour options with your agent and other ways to generate maximum buyer interest. Consider 3D tours, virtual staging, or even drone footage if your property has outdoor highlights. These features can help your home stand out online and attract more attention, especially as many buyers now begin their home search digitally. For in-person showings, it’s best that you leave the premises so the buyer can freely ask their agent questions and visualize the home as their own.

7. Offers & Negotiation

If you are in a seller’s market—defined by low inventory and high buyer competition—it is likely that you will receive offers at – or above – asking price. You can respond to an offer by a) accepting the offer, b) making a counteroffer, or c) rejecting the offer. Counteroffers should always be made in writing and provide a short window of time for the potential buyer to respond. If you are selling in a buyer’s market, you may have to be more open to negotiation. Discuss negotiation strategies with your agent to work toward a satisfying final price.

8. Prepare for Closing Costs

There are costs throughout the selling process, and as the close date approaches, that remains true. Be sure to budget for your real estate agent’s commission, and other common seller’s costs like title insurance, recording fees, and government transfer tax, among others.

9. Home Inspection

Buyer offers are usually contingent upon a professional home inspection. Ask your agent for a home inspection checklist, so you know what the inspector is looking for ahead of time. They typically inspect the home’s foundation, structure, roof, plumbing and electrical systems, floors, windows, doors, and more for signs of damage and weathering. Some buyers now opt for additional specialized inspections—like sewer scopes or radon testing—so it’s helpful to be prepared in advance for what might come up.

10. Closing Time

Congratulations! Your home is sold, but there are still some final steps before the deal is done. This is the time to ask the buyer to release any contingencies, sign the title, and close escrow before handing over the keys. Consult your real estate agent for any questions about legal documentation and settlement costs.

Whether you’re just starting to think about selling or ready to take on the next step, a Windermere agent is here to guide you. Click the button below to connect today.

Sellers • May 8, 2025

Selling Your Home: 5 Common Myths

by Don Koonce

Selling your home is a crash course in real estate education. You’ll learn how to work with your real estate agent to find a buyer and sell at the right price. As you prepare to sell, it’s important to remember that that not everything you’ve heard is true. There are several common myths that can lead to costly mistakes in the selling process. Knowing the truth behind them will clarify your selling journey and help you align your expectations.

Selling Your Home: 5 Common Myths

1. Home Value Calculators Are 100% Accurate

Online Automated Valuation Models (AVMs) are a great starting point for understanding how much your home could be worth. However, they are merely a first step in determining home value; to say they are 100% accurate is a myth. When it comes to pricing your home, you need to rely on your real estate agent’s Comparative Market Analysis (CMA), which uses vast amounts of historical and current data on real estate listings to arrive at an accurate and competitive figure.

To get an estimate of how much your home is worth, try our Home Worth Calculator here:

2. Selling FSBO Will Save You Money

Selling a home requires an intimate knowledge of the housing industry and how to solve the complex situations that arise throughout a real estate transaction. Despite this, some sellers will go it alone and attempt to sell their property without being represented by an agent.

Selling For Sale by Owner (FSBO) is a risky proposition. It requires the seller to bear added liability, fills their schedule with various marketing and promotional responsibilities, and can leave money on the table by inaccurately pricing the property, causing it to sit on the market for too long. The potential costs of selling a home on your own far outweigh the commission real estate agents earn on a home sale.

3. You Must Remodel to Sell Your Home

The question you’ll face when preparing to sell your home is whether to sell as is or remodel. The answer usually lies somewhere in between, but it depends on your situation and what kinds of home upgrades are driving buyer interest locally. When making improvements to your home, lean toward high ROI remodeling projects to get the best bang for your buck, and avoid trendy projects that can delay listing your home. If you’re considering major upscale renovations, talk to your agent about which projects buyers in your area are looking for.

A Caucasian heterosexual couple are discussing a home remodeling project with a Latin American contractor as they prepare to sell their home. They look over paperwork on a wooden dining room table.

Image Source: Getty Images – Image Credit: andresr

4. Never Accept the First Offer

You’ve likely heard tell that the first buyer’s offer is nothing more than a springboard to up your asking price and to never accept it. In this case, “never” should be approached with caution. In reality, the best offer for your home is one that you and your agent have discussed that aligns with your goals. If a matching offer happens to be the first one that comes your way, so be it. The market can shift at any time, so you never know what may happen if you leave an offer on the table. And if the buyer backs out of the deal, you and your agent will find a path forward.

Common Real Estate Contingencies

5. Home Staging Doesn’t Make a Big Difference

Staging your home is so much more than a cosmetic touchup; it has been proven to help sell homes faster and at a higher price than non-staged homes.¹Staging ensures that your home has universal appeal, which attracts the widest possible pool of potential buyers. When buyers are able to easily imagine living in your home, they become more connected to the property. You should stage your home regardless of your local market conditions, but it can be especially helpful in competitive markets with limited inventory where even the slightest edge can make all the difference for sellers.

Now that you know some of the most common myths in the selling process, get to know its truths. Connect with a local Windermere agent to get the process started:

1: National Association of REALTORS® – Why Home Staging Inspires the Best Prices in Any Housing Market

Featured Image Source: Getty Images – Image Credit: Renata Angerami

Buyers • May 6, 2025

Turnkey vs. Fixer-Upper: Pros and Cons

by Don Koonce

The beauty of real estate is that different properties satisfy different needs. Although single-family homes are great for putting down roots, that may not be your motivation for purchasing your next home. If you’re looking to buy a property with the intent of renting it, both turnkey and fixer-upper listings will cross your path during your home search. The main difference between the two is the condition of the property when you buy it. The right one for you depends on your needs as a homeowner and your goals as a landlord.

What is a turnkey property?

Turnkey properties are move-in ready from day one, which means they’re ready for you to rent them out immediately. Whether it’s a new construction home or a recently remodeled listing, these properties are in tip-top shape when they hit the market. Companies that specialize in renovating and selling these properties may also offer property management services, which may appeal to you if you’re looking for a more hands-off approach to managing your investment property.

What does fixer-upper mean in real estate?

Compared to turnkey listings, fixer-uppers are on the opposite end of the investment property spectrum. Buying a fixer-upper means you’re purchasing a home that needs repairs, remodeling, and some major TLC before it’s ready to rent out. These properties are diamonds in the rough; you’re betting on your ability to make high ROI home upgrades that will attract future renters and put money in your pocket.

As an example of turnkey vs. fixer-upper homes, a heterosexual Caucasian couple are remodeling their fixer-upper property. They are re-painting the interior to prepare the property for renters.

Image Source: Getty Images – Image Credit: StefaNikolic

Turnkey vs. Fixer-Upper: Pros and Cons

Turnkey Pros

Because they are move-in ready, turnkey listings have the potential to generate cash flow right away. Without any pending renovations in your way, you can open up the property to renters as soon as you take possession. They’re primed and ready to place in the hands of a property management company, which means you’ll get passive income without having to deal with day-to-day operational tasks. You can also ask the listing agent for permission to use their photos, which can help your rental stand out amongst the competition in your area.

Turnkey Cons

So, what’s the catch? These benefits all come at a cost; turnkey properties typically cost more than fixer-uppers. You’ll pay a premium for the pristine condition and the buttoned-up appearance of these properties, so it’s important to have a strategy to save money for your home purchase. Also, handing off property management duties to a third party means you’ll have less control over the renting process. For more information on whether hiring a property management company is right for you, read the following blog post:

Managing Your Investment Property: DIY vs. Hiring a Professional

Fixer-Upper Pros

Searching for homes in less-than-pristine condition can give you a leg up as a buyer. Fixer-upper homes tend to have less competition from buyers than turnkey properties, since not everyone is willing to take on a major remodeling project. Talk to your agent about how to make the best offer. Given their lessened condition, you can oftentimes get a great deal on these homes with the right strategy. And the best part is, your remodeling efforts will increase the home’s value over time. The more effort you put in, the more the property will be worth, which means higher ROI potential.

Fixer-Upper Cons

Here’s the downside with fixer-uppers: tapping into their potential requires pouring money into the property. Exactly how much you can expect to spend on a fixer-upper varies by location, the size of the home, and the scope of repairs and renovations needed. Tackling some remodeling projects DIY can save you money, but if certain projects require more skilled hands, it may be best to hire a professional. And for all your planning, it’s impossible to predict the future. Projects may go over budget, material costs may rise, and the market may look completely different when you’re ready to rent out your property than it did when you bought it. For more information on buying a fixer-upper and the special financing options available to you, read the following blog post:

Buying a Fixer-Upper

Your real estate agent is your greatest asset in helping you determine which property type is right for you. Connect with a local Windermere agent to see which turnkey and fixer-upper properties are available in your area:

Featured Image Source: Getty Images – Image Credit: hikesterson