Fixer Upper vs. Turnkey

An age old debate when buying property …

As we continue to highlight our renovation projects in our social media channels, we realize it's important to balance off the debate with some reasons why turnkey properties should be considered, as well as fixer uppers, by sharing what our clients have taught us.

We have clients who are interested in using their properties as soon as possible such as an imminent relocation for Golden Visa or D7 application or wanting to start collecting rental income right away.

There are also folks who really love a certain neighbourhood, part of the country or like the charm and authenticity of the property and is fine spending a bit more to have the property updated into a livable current state.

There are also many of our clients who are looking for the obvious, less hassle. As we know, regardless of who manages the renovation, there will always be a certain amount of decisions that needs to be made.

When we manage the renovation projects for you, we do aim to minimize headaches and stress, but in order for us to realize your vision, there will be decisions that only you can make. If that is not appealing for you, turnkey is the way to go.

So when faced with a purchasing decision, here are a few things to consider when deciding between a fixer upper or turnkey property:

• Your current phase of life: types of responsibilities that will compete with the project such as work and family

• The current market sentiment: whether it's a buyer's market or seller's market

• Your aptitude and skills: how much sweat equity can you contribute, or would you have to contract out all the work needed

• Availability of funding: the ability to access different types of financial aid may determine the type of property

Até já,

Mia and Rafael