RALEIGH, N.C. (WNCN) The housing market is crazy right now: homes are being sold before they even officially go up for sale.
When homes do hit the market, they’re being sold for thousands of dollars above asking price.
Some people at the Fairgrounds Southern Ideal Home Show on Saturday in Raleigh were looking for ways to revamp their homes, without purchasing a new property, instead.
“We have a lot of projects around our house,” Sam Whitmayer-Weathers, another attendee, who is trying to wrap up projects, explained.
For different reasons, people strolled through aisles of vendors showcasing new windows, new doors, new bathrooms, and new backyard getaways, all checking out the new designs and getting inspired.
“(People) go into the kitchen every day and think, ‘why do I have to live like this, I can make it better’,” Whitmayer-Weathers said.
But buying a new home right now, is difficult. Many people are opting to fix up what they already have.
“The trouble is the inventory is down, there’s not enough lots to build new houses,” Whitmayer-Weathers said. “Maybe we can enjoy a new bathroom next.”
Costin said due to the prices of products and the low inventory, he thinks renovating should be in people’s best interest.
“It’s a good idea to renovate. The prices are so high right now (to buy),” Avery Costin, an event attendee said..
Some families said they are also hoping to enjoy their labors for the next few years.
“I think there are a lot of people here today who are tired of looking at the same condition every day and they feel like this is a way to get a new house without moving,” Whitmayer-Weathers said.
But even with choosing to renovate, others are using the pandemic downtime as an opportunity to strategize instead of just make housing changes.
“I’m trying to repair my house and sell sometime in early spring,” Costin said. “I want the maximum amount of return on my property.”