What Does "Turnkey" Mean?

1. What Does Turnkey Mean?

 

Turnkey Real Estate is a term that indicates that you are ready to move into the house immediately. This means that all appliances are working properly and that there are no structural or electrical problems at home. Unlike fixtures, which require a lot of repairs when purchased, there is no need to renovate, repair and update the house before buying it. In most cases, ready-to-occupy housing is an ideal option for home buyers because they don't need to be repainted.

 

 

 

 

 

 

 

 

 

2. What is Turnkey When Buying a House?

 

Turnkey properties are generally in good condition, so they don't need to be repaired or remodeled, like old windows or houses with roofs. However, before completing your purchase of all real estate, you should always have a home inspection, even if your home is in a turnkey state. Even in recently renovated homes, home inspectors can identify old, defective electrical wiring or structural problems that ordinary home buyers can't detect.

 

 

 

 

 

 

 

 

 

 

3. Do I Really Need to Find Turnkey Property?

 

Turnkey property can be found, but it can be avoided intentionally. For example, you might find a vintage house that takes time, but you can carefully restore your house to suit your purpose. Such houses will not be classified as turnkey properties. Or you can decide to buy a new house that is under construction but is not yet complete. This is because you can buy this house at a lower price and complete the construction to your liking.

 

On the other hand, if your job involves moving to another company in another country and looking for a new office, turnkey property may be ideal because you don't have to spend time renovating the new office. Similarly, you may simply not have the time or desire to repair a wide range of properties, or you may want to buy a house that you can easily move into without having to do a lot of work on the property before moving in. It's a typical personal decision based on your willingness to do projects like budget, schedule, and home renovation.

 

No matter which path you choose, the first step is to find a home at Redfin or other listing companies and save your search so that you can receive updates immediately when your home comes to the market in that area. This gives you a sense of how many houses you have left and what kind of houses you're going to sell quickly, so you can eventually find the house you want.