According to the property portal Prime Location, searches for furnished homes for sale increased by 51% in 2016, proving that buyers are more and more interested in practicality.
Ready-to-move-in homes apparently don’t just appeal to first-time buyers who don’t own any furniture, but they also interest investors, second-home owners and people who choose to downsize too.
This trend can be explained in different ways depending on the different categories of buyers searching for fully furnished properties.
First-time buyers for example, may like the appeal of instantly getting the look they aspire to without having to shop around trying hard to recreate a certain feel or a certain design on their own. Investors and second-home owners on the other hand, may be time-poor people who are simply looking for a turnkey home to show off to friends and family, while people who are downsizing may simply want to move into the next stage of their lives with a fresh start.
House builders, who do not normally sell their properties furnished, are seeing the rise in this trend as they’ve witnessed the demand for the fully-kitted show homes they furnish to promote their schemes stably increase.
In this case, if a show home is bought as soon as the development is launched, a “sales and leaseback” agreement is put in place, which means the builder gives the buyer a guaranteed return for the period in which the house remains on show, and when it’s all over, simply hands them the keys to the home. This kind of practice is especially beneficial to investors, who first see a return on their purchase, and then find themselves with a fully furnished home to let at the end of the viewing period.