What does a turn key house mean?
A turnkey property is a fully renovated home or apartment building that an investor can purchase and immediately rent out. A turnkey home is often a property purchased from a company that specializes in the restoration of older properties.
What is the meaning turnkey?
Definition of turnkey (Entry 1 of 2) : built, supplied, or installed complete and ready to operate a turnkey nuclear plant a turnkey computer system also : of or relating to a turnkey building or installation a turnkey contract turnkey vendors.
What does a turn key house include?
What is Turnkey meant to mean? When a builder advertises a turnkey home, they mean the price they are advertising includes absolute everything that you and your family need to turn the key and move in once the home is complete.
Are turnkey homes worth it?
Turn key homes are popular for home buyers and investors who have no time, ability or interest in setting up the home themselves. If you’re looking for an easy source of passive income, turn key homes can be a great opportunity to earn returns without much effort.
What is the difference between turnkey and move-in ready?
The term “turnkey house” has two basic definitions in the real estate world: Generally, turnkey is a descriptive word indicating a house is “move-in ready.” True turnkey houses are in excellent structural and cosmetic condition, meaning you don’t need to spend money or time on repairs or design updates.
What is another word for turnkey?
In this page you can discover 13 synonyms, antonyms, idiomatic expressions, and related words for turnkey, like: turn-key, end-to-end, jailer, pre-integrated, prison-guard, warden, warder, gaoler, multi-utility, bespoke and free.
Does turnkey mean furnished?
Turnkey property does not typically mean furnished, but some turnkey properties might be furnished. It typically says in the property description whether it is furnished or not. If you are touring a turnkey property and fall in love with the furnishings and the property, however, talk to your real estate agent.
What does turnkey finish mean?
Put simply, a turnkey house is a finished home that’s ready for you to move into. To achieve this, you’ll work with an integrated team of design and build experts to develop the concept of what you wish to build, deciding precisely how you’d love to live.
What is the opposite of turnkey?
Key Takeaways Turnkey is a word that can be used to describe a solution, a business, or a property. A turnkey solution is the opposite of a custom-built solution.
How does Turn Key Homes work?
Instead of worrying about buying a parcel of land and then finding a builder, a fixed price house and land packages means that the property developer and builder work together to take care of both steps for you. A turnkey home takes this ease one step further.