On our blog for investors, I recently wrote about our company’s perspective on “gentrification,” which is when people buy up homes in a community and fix them up to entice people outside the community to purchase them. Usually, the prices are so high that people who originally lived there could not afford them, which drives people out of neighborhoods where they have memories, family, and cultural ties.
We’ve had people who are interested in selling us their house express concern that we might turn their house into some trendy place for “yuppie hipsters” who come in and paint their doors weird colors and put xeriscaping in their yards (or something like that).
Well, that’s not our goal, though some real estate investment companies use that as their business model (probably not calling people yuppie hipsters, more like aspirationally affluent or something). What we enjoy doing is taking a house that’s not been maintained particularly well or has other issues, fixing the problems, painting it a nice, clean color, and putting in new appliances and other fixtures that work. It is quite possible to do this on a budget that enables us to resell the house at a price that current residents could afford.
What are your thoughts on this? And, if this helps you be more comfortable talking to us about selling your current property that needs a lot of work, please phone us at 512-807-8777 or fill out the form below.