Buyer & Seller Perks In Today's MarketRight now, the housing market is full of outstanding opportunities for both buyers and sellers. Whether you’re thinking of buying your first
Details Win Home Sales
Dated: July 3 2020
Details Win Home Sales
According to the National Association of Realtors®, a majority of recent home buyers would have preferred improved and greater closet space, as well as other storage opportunities. People have lots of stuff, and they need somewhere to hide it all.
Overcome negatives with positives:
You can never have enough space!
So give them the storage to do just that! Give buyers great storage, and you’ve won their hearts.
If you can easily add new closets to your home, it is a huge bonus for you. Building a simple closet is not really all that difficult if you are even just moderate handy. If you are selling an older home where closet space is typically at a minimum, this will help!
However, putting in new closets is not always a possibility. For instance, if your rooms are already small, you might not want to take any square footage away from them.
You may not have the skills of the funds to hire someone build new space, this is when we turn to closet organizers for help. For instance:
· You can easily design your custom closet kit online with a storage solution company like Closet Maid.
Don’t stop there, after all, “storage” is not restricted to closets. Storage improvement opportunities apply to all of your cabinets, clothes closets, linen closets, and attic and basement spaces.
It is important to make sure you organize your cabinets. The same places that provide closet organizers can help you with this. Take a good look at your laundry room or in the linen closet. Adding extra shelving in these places makes a big impact.
Look for any places you can add attractive and inexpensive storage. Make sure your improvements are tasteful, and you will benefit from improved storage solutions. Buyers really love this stuff.
Use the bedroom addition trick
Who doesn’t want to add tons of extra value to a home? Here is an easy way: you can add another bedroom relatively inexpensively.
Okay, before you start laughing, take a minute to consider your options. Not every home will benefit from an extra bedroom. In special cases, it can really set your home apart from others in the market.
This does not mean you need to add square footage to your home. Simpley create space for another bedroom. Example: add a closet to an extra junk room. Voila! You have a bedroom.
That’s right. You can easily convert a den, office, spare room or conditioned attic into a third or fourth bedroom by building a closet. Before rushing off to build closets, take time to compare your home with other similar houses available in your area:
· If three bedroom homes are the norm in your neighborhood, a fourth bedroom might give you a real advantage.
· However, if buyers in your area are looking for one or two bedrooms, what good is a fourth bedroom? An additional bedroom would be a waste of money in that case.
Do some homework before you start. Find out configurations of rooms in nearby homes. Talk with an agent about buyer preferences. They can help you determine whether you would benefit from a simple bedroom addition.
Bottom line: if you need a significant boost to your home’s worth, adding another bedroom is one great way to do it.
Mechanical maintenance is a must
It is very easy to get wrapped up in the more eye-pleasing aspects of getting a home ready to sell. However, you should never overlook the upkeep of all of the more mundane aspects of your home.
Take a closer look at these mechanical features:
· electrical boxes and wiring
· natural gas lines
· central heating and air conditioning system
If these components of your home are old, outdated, or not working properly, you are lowering your home’s price significantly.
According to the National Association of Realtors®, 65% of home buyers surveyed were very concerned their new home had a working central air system. Of the 31 mechanical features inquired about in the survey, this was the most important one across the board.
It is true that people buying homes want to purchase something that reflects their aesthetic tastes and lifestyles.
However, they also want to own a home that is safe and sound. Faulty electrical systems do not provide a feeling of safety. Leaky plumbing arouses of mold infestation.
These areas are not necessarily entertaining or fun to fix, but they are extremely important. Overlook these areas in the preparation stage, and you run the risk of trouble later with inspections and appraisals.
Buyers are attracted to a house with beautifully updated cosmetic details. They also want to know they are buying a safe, secure home for their family. Take care of the many mechanical features of your home, and you’ll profit from it.
Obviously, professionals should do most of the mechanical work. Having a professional inspection is a big plus to most buyers as well:
· Have a certified plumber inspect your entire water system for leaks. Check the well and septic field if applicable.
· Hire an electrician to check your wiring.
· Call your local HVAC company, and have their technicians perform a thorough service checkup.
· Contact your natural gas supplier and have them double check the mechanics of your tank and lines.
There is an alternative option to calling and arranging all these different inspections. Certified home inspectors can usually cover all the different items related to mechanical issues and more. They will be able to identify possible trouble spots you need to address. Many buyers hire an inspector, so you may even be saving them a step.
Now, having antiquated wiring and plumbing replaced is not cheap. If you do have mechanical issues and decide to sell your home as is, it may be necessary to drop your selling price.
Turning to a professional opinion can help. Just like the extra bedroom step, it pays to know what competition you are facing. You can also choose to wait and negotiate with buyers.
Sometimes you will get lucky and find a buyer who is already interested in doing some remodeling. Sometimes you find a buyer who has certification in that area, and will buy the house for a lower price and plan to do his own work. If you are unable to update and repair, be honest, upfront, and flexible. An interested buyer will work with you.
If you can update highlight fixes you can handle. Then, note any fixes requiring professional work. Finally, note anything you wish you could fix. Start with the easiest items and work down the list.
Remember the 80/20 Rule, and focus your efforts on the updates and repairs that bring the greatest returns!
See more blogs:
For the majority of people, the purchase or sale of a home is their largest single investment. My goal is to guide you successfully and easily through the contractual, investment and emotional decisio....
Latest Blog Posts
3 Ways Home Equity Can Have a Major Impact on Your LifeThere have been a lot of headlines reporting on how homeowner equity (the difference between the current market value of your home and the