A recent survey reveals that a significant portion of Americans are planning to enter the housing market in the coming year. With limited inventory and high demand, buyers need to be strategic in their search. This article explores the advantages and challenges of purchasing turnkey homes, building new residences, and renovating fixer-uppers, providing essential tips for navigating the competitive real estate landscape.
Navigating Limited Inventory: Focus on What Matters Most
In a market with scarce listings, prioritizing essential features becomes crucial. Buyers should define their non-negotiables—such as location, number of bedrooms, and key amenities—and remain flexible about other aspects. The competition is fierce, with over six potential buyers per available home. Understanding these dynamics can help prospective homeowners make informed decisions.
The housing market has seen a decline in sales, with only 4.06 million existing homes sold in 2024—the lowest since 1995. Despite this, 15% of Americans plan to buy a home in the next 12 months, totaling approximately 39 million people. Real estate broker Jenna Stauffer advises focusing on critical elements while being adaptable in less important areas. For instance, condition flexibility can open up more options. In 2024, 23% of buyers compromised on home condition, considering both fixer-uppers and new constructions.
Evaluating Turnkey Homes, New Constructions, and Fixer-Uppers
Each type of property offers unique benefits and drawbacks. Turnkey homes provide immediate move-in convenience and broader financing options but come with intense competition and higher prices. New constructions offer customization and fewer competitors but may face delays. Fixer-uppers present cost-saving opportunities and personalization potential but require substantial effort and investment.
Turnkey homes are ready-to-move-in properties that streamline the buying process. However, they often attract multiple offers, leading to bidding wars. To secure such a home, buyers must act swiftly, have preapproved mortgages, and be prepared to negotiate. In contrast, building a new home allows for personalized design choices and potentially lower competition. Yet, construction timelines can be unpredictable due to material or labor issues. Renovating a fixer-upper can offer financial advantages and customization, but it demands thorough planning and budgeting. Prospective buyers should consult professionals to assess renovation costs and feasibility, ensuring they fully understand the commitment involved.
The debate over the inclusion of government spending in Gross Domestic Product (GDP) calculations has gained momentum following recent comments by Commerce Secretary Howard Lutnick. In a televised interview, Lutnick suggested separating government expenditures from GDP to enhance transparency. This move aims to provide a clearer picture of economic health by distinguishing between private and public sector contributions. Proponents argue that this separation would lead to a more accurate reflection of true economic value, emphasizing that not all government spending translates into tangible benefits for citizens. By isolating these figures, policymakers can better assess the efficiency and effectiveness of public funds.
However, critics warn that such a change could complicate the interpretation of GDP as a key economic indicator. Historically, government spending has been integral to GDP because it influences various economic activities, including consumer spending, business investment, and overall growth. For instance, federal investments in infrastructure, social security, and research have long-term positive impacts on the economy. Reducing or eliminating these expenditures could result in significant layoffs among federal employees, potentially leading to reduced consumer spending and broader economic repercussions. Musk's Department of Government Efficiency, which advocates for downsizing federal agencies, highlights concerns about wasted inefficiency but overlooks the broader societal benefits generated by government programs.
The discussion around GDP measurement underscores the importance of balanced fiscal policies that promote sustainable economic growth. While reducing inefficiencies is crucial, it is equally important to recognize the role of government spending in supporting essential services and driving innovation. A nuanced approach that evaluates both the costs and benefits of public expenditures can help create a more resilient and prosperous economy. Ultimately, fostering transparency and accountability in how we measure economic progress will ensure that policies are grounded in data-driven insights, benefiting all stakeholders involved.
Investment firm GQG Partners has announced a significant leadership change, with the upcoming retirement of its Chief Financial Officer, Melodie Zakaluk. Effective January 1, 2026, Zakaluk will step down from her role after nearly a decade of dedicated service. The company plans to ensure a seamless transition by having Zakaluk remain in her position until the end of this year. Her contributions have been pivotal in shaping GQG's growth from a startup to a globally recognized listed company.
Zakaluk joined GQG Partners in 2016 as the Chief Financial Officer, bringing with her extensive experience from previous leadership positions at prominent investment firms in Seattle. Over the past nine years, she has played an instrumental role in guiding the company through various stages of development. From overseeing financial strategies to supporting the firm's successful initial public offering (IPO), her expertise has been invaluable. Zakaluk's tenure has seen GQG evolve into a robust and respected entity within the investment community.
The CEO of GQG Partners, Tim Carver, expressed deep appreciation for Zakaluk's commitment and hard work. He highlighted her significant contributions during the company's formative years and beyond. Carver noted that Zakaluk's dedication and acumen have been crucial at every stage of the company's journey, particularly during its transformation from a startup to a publicly traded enterprise. Her leadership has not only strengthened the firm's financial foundation but also bolstered its reputation in the global market.
A successor to Zakaluk has yet to be named, but GQG is committed to conducting a thorough search to find someone who can carry forward the legacy she has established. As the company prepares for this transition, it remains focused on maintaining its momentum and continuing to deliver value to its stakeholders. Zakaluk's departure marks the end of an era for GQG, while also setting the stage for new leadership to guide the firm into the future.