‘Turnkey’ : A term used in Residential Real Estate to describe a home that is move in ready upon possesion. An example of a Turnkey home would be a newly renovated bungalow with all the appliances available. Once title has transferred it would be very easy to move into.
Is My House Turnkey?
A few easy questions to ask yourself to determine whether your house is ‘Turnkey’.
Do all your homes building systems work? Will work for the next 1 – 3 years? Your homes building systems are generally: the electrical wiring, pluming, Roof Soffits & Fascia, Furnace/AC. If these building systems are in good condition that is the first step to a Turnkey property.
Are Your homes Appliances Working? What about the flooring cabinetry & doors? Great! That makes your home Turnkey as well. It is incredibly important if you want to reach Turnkey status to ensure all your appliances work. Having floors in alright or great shape is important for Turnkey as well. At the same time all the doors and locks should be in good condition.
Is your yard in decent shape? A Turnkey house is often defined as a property that needs no work after you take possession. This applies to your garden, does it need work? People may not consider your property Turnkey if the garden, back fence or concrete pathways in your front or back yard are in tough condition.
In the end of the day. Turnkey means a house that is easy to walk into and begin living in. Which means it’s inherently subjective. You can’t please everyone! However, as a descriptor for listings, it is totally fine to use if there truly isn’t anything to do.
Thank you for reading my Real Estate Blog. If you have any other questions about Real Estate – please get in touch! I am happy to help.