In this unprecedented time in the world, people all over the U.S. have dealt with things never imaginable up until now. From total lockdowns of cities and states, to huge layoffs and people struggling to eat and pay bills, this economy has really taken a huge hit in the past year of this pandemic. The idea of building a new house during these trying times has really been put on the back burner by lots of people. In the real estate world, buying and fixing up homes has become a much more popular option. Realtors like Shalom Lamm, belives that there are various reasons why this trend has grown and become more popular. This article will discuss some of these issues.
Time has really become something that people have factored into buying houses that need to be fixed up. Like buying a home in Ocala, FL, the first thing you want to do is find a Ocala roofing contractor to help you with the inspection. During the past few months of this pandemic where the whole country went through an economic shut down, the large home repair retailers like home depot and Lowes have seen huge amounts of revenue generated. People who have been at home much longer than they would have ever thought have begun home improvement projects. The exact same is true in fixing up houses instead of building new homes. People can foresee the large amounts of extra time they have available plus the lower cost of fixing up an older home. With all of this extra time, it has become a very popular trend to buy and fix up a home in the current state of the U.S. economy.
Another key factor in the trend of fixing up older homes is purely the cost difference of fixing up a home versus building a new one. When potential buyers look to build a new home they are going to be faced with the task of paying a very high price per square foot for a new home. On the other hand, buying an older home and fixing it up can allow home buyers to purchase a much larger home at a much lower price per square foot. The money that home buyers would use in a down payment and lot purchase on a new home, is now being used at the large home depot and lowes stores to fix up these older homes. This fact plus the extra time available for lots of people has really created an explosion of fixer upper home sales in the United States in the last year.
Time and money are clearly the two biggest reasons creating a huge upward trend of older home sales in the country. The big retailer stores such as home depot and lowes have experienced massive revenue because of this trend, and home renovation projects as well. When this pandemic finally ends and life as we know it can resume back to normal, it will sure a great thing for people to take a step back and realize how important our way of life is, and how precious things are we normally take for granted, according to Shalom Lamm.