In the current North Shore real estate market, one trend stands out: buyers are looking for "move-in ready" homes. Moving is already stressful, and most buyers don't want to deal with renovations after they move in. With the rising cost of materials and inflation, many people simply don’t have the money or time for updates.
A few years ago, "reno flipping"—where buyers would purchase homes, renovate them, and quickly resell for a profit—was huge. But with material costs soaring and new flipping taxes in place, it’s not as popular now. Buyers today are more focused on finding homes that are ready to live in, and they’re often willing to opt for smaller updated homes over larger ones that need work.
If you're selling an older property without recent updates, it’s important to adjust your expectations. Homes needing renovations tend to sell for less because buyers will factor in the cost and effort required to update them.
A smart strategy for homeowners is to handle one update per year. By spreading out the investment, your home will be in better shape when it’s time to sell. Stick to neutral, timeless upgrades rather than going overboard with trendy designs.
There are also some tricks and tips to make your home appear more updated without major renovations—but that’s a topic for another blog. For now, just keep in mind that small, consistent improvements can make a big difference when it comes to attracting buyers in today’s market.