Selling a home today is easier than it was last year, but this article explains what buyers are looking for when purchasing a home. The article comes from https://realtytimes.com/ by PJ Wade and it has some interesting feedback on home buyers. Let's Look at some of the issues in this article.
"Buyers may dramatically under-value your house or condo or ignore it altogether. Ask local real estate professionals about the type of buyers who would be interested in the delayed gratification of paying for your "slightly dated" home's location and then undertaking extensive renovations themselves. Will they pay you top-dollar?"
Some homes need updated and the kitchens and bathrooms are what is really important in updating a home. A client of mine added a new kitchen in their home after we got a smoking deal on the purchasing the home. The home was dated and new buyers like homes that are updated. They now have a beautiful home that is updates and still has equity.
"The last renovation may seem a recent memory to sellers, but they must check the calendar. If it was more than 5 or even 10 years ago, this time lag puts sellers out of phase with millennial buyers — your home reminds them of their parents' or grandparents' place. Not a way to add value or evoke a "dream home" atmosphere."
Millennial buyers watch HGTV and all the other remodeling programs that you can think of. That is their concept of a perfect home. Colors and updates really make a huge difference in the mind of younger buyers. Your older buyers are also the same and if the home is dated they look at the rehab and what it may cost. Kitchens can cost a lot of money if your do not know where to get the best deals. HGTV and fixer upper shows really show expensive rehabs and up to date finishes, and the cost YIKES!
"The last renovation may seem a recent memory to sellers, but they must check the calendar. If it was more than 5 or even 10 years ago, this time lag puts sellers out of phase with millennial buyers — your home reminds them of their parents' or grandparents' place. Not a way to add value or evoke a "dream home" atmosphere."
It is important to know all these factors when you are selling a home. It is a sellers market, but the buyers in today's real estate market want a lot of what they see on cables home shows. Just make sure your home is ready to sell and has some important updates.
Need a Real Estate Agent that understands what buyers want please give me a try I'm Brett
216-703-5740 EXP Realty Ohio and 602-363-6551 EXP Realty in Arizona. Getting clients real estate needs done.
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Thank you