While millennials may be driving much of the commercial real estate market, the Greenville residential market is also feeling the impact of baby boomers downsizing into smaller homes. Joan Herlong, Residential Real Estate expert, says, “You have to view your home as an investment, or else it will be a drain. High net worth individuals that want to downsize need to understand that it is imperative to have recent renovations done on their home if they want to make a profit.”
Buyers are not willing to bid on an old home then proceed with renovations if they cannot get a good deal, which in turn, means the seller will not make any profit. It is a balancing act between minimizing inconvenience and maximizing return, dependent upon each individual’s situation. People often make the mistake of not doing their homework when it comes to buying or selling, and Herlong encourages people to interview more than one agent by asking questions – which means that both the seller and the buyer are making a fully informed decision.
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Joan Herlong is not affiliated with NNP Wealth or its affiliates. The material presented is not considered an endorsement of the professionals and therefore NNP Wealth gives no assurances as to the quality of their services.
The opinions expressed here reflect the judgement of the author as of the date of the report and are subject to change without notice.