Fixer Upper or Turn Key? What Kauai Sellers and Buyers Need to Know

When a property is for sale that is either a fixer upper or the renovations are dated, I find sellers and buyers looking at this very differently.     

I’ve heard sellers say the buyer is just going to do their own renovation anyways, if I did any improvements to the property the buyer might just wind up ripping it all out.   

The buyer might not have the money to do any renovations so they need to decide what they can live with. Or if it’s a vacation rental the buyer is thinking “I’ve never owned a second home, I don’t know who to call to fix this up and I won’t be able to rent it out while it’s being renovated.” When a buyer is purchasing a property that is thousands of miles, and a plane ride away from them, it’s sometimes a stretch for them to start off with a renovation. 

 For a seller they may not have the funds to do work on the property. If they do, it needs to be a seller’s market to get all, or even a partial part of that investment back.  

What to do is answered by the market itself, “Is it a seller or buyer’s market?”  

In a seller’s market, properties that need a complete renovation sell quickly because buyers are seeing properties flying off the market and when everybody is tripping over each other to buy they do too and will figure out the renovation later.   

But if it’s a buyer’s market and they have some inventory to choose from they will pay more for a property that is turn key.   

Is it a buyers or seller’s market for your price point, or neighborhood, or condominium complex? There is no one size fits all for that question but a good real estate agent that is not afraid to be truthful with you, and who knows the market, can help you with that.  

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Aloha!  

Lynda Gill RS Lic. 63088  

Hawai’i Life Real Estate Brokers 808.346.0056  

LyndaGill@HawaiiLife.com