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Many Home Buyers Open to Buying, Then Rennovating

Thursday, April 25, 2019

Higher prices and limited inventory are leading buyers to fixer-uppers.

Nearly 60% of all spring home shoppers are considering a home that needs renovating, as rising home prices and limited entry-level inventory continue to be a hurdle, according to Realtor.com®'s spring home buyer survey.

More than half of home buyers considering a home that needs some TLC are willing to spend more than $20,000 on the renovation, while the vast majority—95% of them—are optimistic they will get a positive return on their renovation investment. Realtor.com® conducted the online survey through Toluna Research in March, consisting of 1,015 respondents planning to purchase a home in the next 12 months.

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Category: Housing

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City of Elk River Economic Development
13065 Orono Parkway | Elk River, MN  55330
phone 763.635.1000