Richfield House Hunt: Buyers Rank Affordability as Top Priority

What’s number one on first-time buyers’ must-have list when they go house hunting?

A national survey found that affordability was at the top of the list, with move-in readiness coming in close behind.

While fixer-uppers can sell for considerably less—the worse shape the home, the lower the price—only seven percent of new buyers are considering buying a home that needs work. This trend is an abrupt change from the last few years when first-time buyers were competing for homes that needed "just a little cosmetic work."

This trend fits well into the Richfield market. Although there are still a number of bank-owned and short-sale homes selling in the city, buyers can find a number of pristine, yet affordable homes without breaking a sweat.

Buying a fixer-upper may help build equity, but the trend is moving toward buying and staying put. Prices are low enough, even with traditional sales, that many buyers can find the house of their dreams without having to redo a kitchen or lift a paintbrush. Only one of the following homes on the market in Richfield could use a little face lift; four are move in ready:

House No. 1: 7419 Pillsbury Ave. S.

Listed by: Edina Realty

Price: $125,000 Taxes: $2,211

Description: One and one-half story, single-family home; two bedrooms, one bath and 1,141 finished square feet. This home is perfect for the first-time buyer offering real charm. The bath and beautiful, sunny working kitchen have been updated and there’s a room that would work well as an office—or convert it into a third bedroom. This home includes a formal dining room and a lower-level family room. The upper level has original built-ins and a window seat. There’s a patio in the tree-shaded backyard. The and are within walking distance.

House No. 2: 7526 Columbus Ave. S.

Listed by: Edina Realty

Price: $156,500 Taxes: $2,454

Description: One-story, single-family home; three bedrooms, one bath and 1,387 finished square feet. This classic Richfield rambler has new carpet, fresh paint, beautiful hardwood floors and a cedar closet in the lower level. The electrical system was updated just six years ago. The backyard is perfect for entertaining, with a large cement patio and a huge yard with a garden filled with day lilies, blackberry bushes and other perennials. This home also includes a four-season porch, a lower-level workshop and a large family room. A home warranty included.

House No. 3: 6500 Girard Ave. S.

Listed by: Edina Realty

Price: $167,500 Taxes: $2,877

Description: Two-story, single-family home; four bedrooms, two baths and 2,256 finished square feet. This large home needs your personal touch and decorating talents. There’s lots of promise in this home including two wood burning fireplaces, hardwood floors (under carpets), built-ins, lots of windows, large closets, a formal dining room and an eat-in kitchen. This home has tons or potential at a great price. This could be your equity builder.

House No. 4: 6639 Logan Ave. S.

Listed by: Re/Max Results

Price: $199,900 Taxes: $2,728

Description: One and one-half story, single-family home; three bedrooms, two baths and 2,002 finished square feet. Immaculate and ready to move in. The kitchen has been beautifully remodeled with stainless appliances and granite countertops, the large master bedroom (19' x 15') has a private three-quarter bath, there are two fireplaces (one gas and one wood burning) and there are gleaming oak floors throughout the house. There are walk-out French doors to the deck and the patio, perfect for three seasons of the year.

House No. 5: 7037 Oakland Ave. S.

Listed by: Re/Max Results

Price: $284,900 Taxes: $4,404

Description: Four or more split-level, single-family home; four bedrooms, three baths and 2,520 finished square feet. Not your typical Richfield home, this 1995 gem has granite kitchen countertops and oak cabinets, vaulted ceilings, a whirlpool bath, a heated three-car garage, egress windows in the finished lower level and a family room fireplace. Walk out the kitchen to the deck and the large backyard. A rare opportunity. Contract for deed is available for the right buyer.