What Homes Will Peform The Best In The Next 12 Months

Recently I wrote an article exploring the current pros and cons of whether to stay and renovate your existing home or sell and buy something that is more suitable to your needs. Obviously one of the tricky aspects of building work at the moment is wait times and material costs versus a softening market where better value might be found now than there was in the previous 2 years.

This led to a question being put to me about what homes do I think will best survive any downturn. And I think the answer to that is going to be the new homes and the already renovated homes. As some properties are starting to take longer to sell and stock levels rising, we already starting to see a separation between the properties that are slower to sell with a steeper discount on their asking price, and the homes that are still sparking competition. So, if less people opt out of doing a renovation on their existing home, and want something already complete, that will add an extra layer of buyers wanting the complete product. So if more interested buyers outstrip the number of finished homes for sale, we are going to see some healthy results in that space.

Of course, to have such a home you have to pay more for it, so we are discussing the mid to high market when it comes to pricing. People will still be buying the property that needs improvement based on their spending capacity and those homes will continue to sell as well. But the larger, walk in nothing to do homes will be most insulated from the changing landscape.