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Why Investing In Turnkey Properties Is a Viable Option

Why Investing In Turnkey Properties Is a Viable Option

Turnkey properties have become increasingly popular in recent years. Turnkey homes are types of properties that are furnished and landscaped by the investor(s), only to sell them later at a better price. Generally, anyone can own a turnkey property as a source of investment, from real estate agencies to turnkey investors, and even people who are continuously on the move.

Labeled as ‘ready to move in’ properties, turnkey homes do not require any renovation or repair work. This is because all the systems and structures in the home are maintained and worked on to improve the aesthetics of the property. Many people today are still skeptical regarding the viability of turnkey properties. Here, we will help you realize why investing in turnkey properties can prove to be fruitful for your ongoing and long term needs.

Immediate Relocation

Since turnkey properties are ready to move in, all you have to do is make the down payment, take the keys to your new home, and you’re ready to move in. This helps you save considerable time, money, and effort down the line that would otherwise go in finding a home, renovating it, and then moving in. Turnkey properties are generally available throughout the United States, but you can find some good ones in markets where new housing schemes and development projects are taking place.

Convenient Mortgage

Banks love turnkey properties as they view them as great propositions. By having an average FICO credit score, you can easily secure a loan for any turnkey home. On another note, since turnkey properties are already complete, banks love investing in them as they can easily be rented out and have great resale value with all the add-ons. That said, if your FICO credit score is below average, or you have defaulted on any of your previous mortgages, then a bank can rightfully reject your mortgage appeal.

Streamlined Paperwork

If you are purchasing a turnkey home from an investor, then you can directly deal with them and the bank as the investor will have all the paperwork ready. If you are purchasing a turnkey home from a real estate agency, even better! The agency will handle all the associated paperwork and legalities to give you quick and convenient turnaround on the exchange of keys and ownership.

Great Value

 

There are four factors that decide whether a property is good enough or not – age, condition, price, and location. If all these factors are present in a turnkey property that you are willing to buy, then you shouldn’t hesitate in signing the dotted lines. More and more investors and homeowners are now realizing the importance of turnkey homes, which is why you can see an increasing number of properties being developed for visual appeal and comfort. In case you want to sell your home in the future, you can always do so for a great price. If you don’t buy the idea of selling, you can always choose to rent out your property.

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