1. Low Inventory = High Profit Potential
With bidding wars raging, the profit potential for smart pre-listing updates is sky-high. Low-interests mortgages may make purchasing a home possible for more buyers, but it doesn’t change the needs of those buyers. Today’s buyers, particularly millennials, who make up 53% of recent borrowers, prefer properties that won’t require renovations. Even small improvements, like fresh painting or moderate kitchen updates, will deliver a huge return on investment for sellers. After mostly minor renovations, this home renovated by Curbio sold in 6 days for $63,000 over asking. With the renovation cost coming in just under $20,000, the homeowners received an ROI of 538% and a profit of $105,000.