Homebuyers Prioritize Move-In Ready Houses Despite Premium Prices

High interest rates and rising property values aren't stopping home seekers from prioritizing convenience. A new survey reveals that a majority of prospective buyers are now hunting for "turnkey" properties—homes that are move-in ready and require no immediate renovations—even if it means paying a premium at the closing table.

This shift in preference suggests that the traditional "fixer-upper" is losing its luster. For many, the prospect of managing expensive construction projects or dealing with fluctuating material costs is more daunting than taking on a larger mortgage. To make these polished homes fit their budgets, buyers are increasingly willing to compromise on other major factors, such as the total square footage of the house or its specific neighborhood.

The trend highlights a move toward predictable housing costs. By purchasing a home that is already renovated, buyers can fold their living expenses into a fixed monthly mortgage payment rather than facing the unpredictable out-of-pocket costs associated with home repairs. As the spring buying season approaches, real estate experts will be watching to see if this demand for move-in ready inventory continues to outpace the interest in older, dated properties.

This report is based on findings from HousingWire.