Does your home appeal to investors? There are certain traits investors look for in homes and specific types of homes they seek out. Whether you are a novice investor or trying to make your home appeal to investors, these are the types of homes investors look for:
Easy-to-update homes. If investors are going to put work into updating a home, they will look for listings with sturdy structures. A few minimal cosmetic changes and inexpensive updates can mean big returns for investors. But if the home requires extensive renovations, it will turn some investors away because they want to avoid a money sink.
The perfect location. Investors look for homes that are sure to sell, and finding a home in a popular location is one of the best ways to make sure the home doesn't sit on the market for too long.
Well-maintained homes. Homes that have been well-maintained mean they will need less repairs and renovations. Less time spent fixing a home up means more time devoted to turning a profit.
Rent-able properties. Some investors specifically look for properties that can be easily rented out to tenants. More tenants means more income for the investor. Many different aspects of a home can impact its potential as a future rental property including location and zoning restrictions.
Big rewards. A home for sale at a low price can mean a potential huge return on investment. With careful planning, extensive renovations can be worth the time and money. A home can be sold for many times over the original investment if the investor plans carefully enough.