The generational shift: Hundreds of thousands of single-family houses have major renovation needs

About 343,000 single-family homes are owned by people aged 73 or older, and many of these homes are expected to change hands in the coming years.

According to a new report from the Association of Realtors, between 270,000 and 318,000 single-family homes lack registered maintenance measures in various areas since 2003 or 2009.

Above all, it concerns older electrical systems, facades, VA lines and roofs. Even the kitchen and bathroom stand out. Only 13 percent of the houses in the older owner group have a registered kitchen change since 2009.

The extent of the consequences varies between different parts of the country. In areas with high housing prices, the need for renovation can become a natural part of the change of ownership.

In places with lower house prices, however, the renovation costs risk exceeding the house's market value according to the report.

For young families, the dream of a small house can be more difficult to realize if the houses have major renovation needs. One way to go, says Oskar Öholm, is to look over so that there are easier financing options for maintenance and renovation.

- The regulations disadvantage renovation objects as they are today and need to be handled differently, he says.