If you’re considering selling your house, it’s crucial to understand that there are buyers willing to pay top dollar in today’s market, but they prefer homes that are move-in ready. According to a recent press release from Redfin:
“Buyers are still out there and they’re willing to pay today’s high prices, but only if the house is in really good shape. They don’t want to spend extra money on paint or new appliances.”
This makes sense considering the high cost of homes today. Buyers may stretch their budgets to purchase a home and may not have extra funds for renovations after moving in. Therefore, if your home is outdated or needs repairs, potential buyers might overlook it or make lower offers than expected.
Currently, there are many homes in need of upgrades. Millions of homes are entering their prime remodeling years, typically between 20 and 39 years old. Perhaps your home falls into this category. According to John Burns Research and Consulting (JBRC), the number of homes in their prime remodel years is substantial and growing.
If your home fits this profile, strategically updating it can significantly enhance its appeal to buyers and expedite its sale. However, deciding where to invest your time and money can be challenging.
Why You Should Work with a Real Estate Agent
By partnering with a local real estate agent, you can strategically plan improvements that offer the best return on investment. Not all upgrades are equally beneficial. As Bankrate advises:
“Before investing in costly upgrades, ensure they provide a high return on investment. For instance, installing new granite countertops may not make financial sense if the potential profit is marginal or negative.”
Additionally, a reputable real estate agent understands local market preferences and buyer expectations. As noted by Bankrate:
“. . . a good real estate agent will know what local buyers expect and can help you decide what needs doing and what doesn’t.”
Your agent will have insight into what features are in demand locally and can advise you on cost-effective improvements that will maximize your home’s appeal and value.
Bottom Line
Enhancing your home for a faster sale requires strategic updates and professional guidance. Collaborate with me, Teresa Hill, a local real estate expert, to understand market demands and make informed decisions that enhance your home’s marketability and sale potential.
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