How does a turnkey home work?

Turnkey means the home is move-in ready. Because of this, investors gravitate toward these properties because they can usually get tenants in quickly and start collecting rent. But buyers planning to live in the home can also purchase turnkey properties and move in quickly.

Does turnkey mean furnished?

No. A turnkey home can be furnished, but that isn’t a requirement. Turnkey means move-in ready with regard to the structure and condition of the home.

Are turnkey properties worth it?

It depends on your circumstances. They usually cost more, but you can still potentially turn a profit if you rent it out. And if you plan to live there, the extra cost might be worth avoiding the hassle of renovating the house while you’re living there.

Should you consider a turnkey home for your first home?

They can make great homes for first-time home buyers, but it depends on your personality. Homeowners who don’t possess DIY skills or have the inclination to undertake major renovation projects are attracted to turnkey homes. Busy professionals also find these homes appealing.