Real Estate 101 What are Buyers Looking for
The current real estate market is alive and well throughout the United States. Those looking to buy a home share that the hardest part for them is finding the right property. They want a property that will fit all their needs and fall within their price range. Due to the difficulty of searching, nearly forty percent of all perspective buyers search properties online first. This allows them to see what is available in the area they want to live.
Research shows that millennials are more likely to look at houses online compared to older buyers. During a research period from 2009 to 2013, real-estate related Google searches saw an increase of over 250 percent. Websites like Zillow and Trulia provide visits with lists of all properties, houses, and condos for sale within a particular area. They also allow you to target your search based on the size, price, number of rooms, and other factors. You can look at photos of each property, as well as a map of exactly where the property is located.
Once you find some homes online that you are interested in viewing, you can contact your realtor and provide them with the address. They can arrange a showing for that home, and similar homes in the same area, so you have a selection to choose from. Real estate shopping can be stressful, but it doesn’t need to be. The more research you do independently, the more prepared you will be when looking at real estate.
So what are home buyers looking for? How can a seller use that information to increase the chances of them selling their home? First, home buyers are looking for good school districts. Research shows that a home?s value can be impacted as much as twenty percent based on the school district it is located in. While you cannot change the school district your house is located in, you can have a better understanding of how it will impact your ability to sell and come up with a sales strategy with your real estate agent.
Buyers also look at kitchens, bathrooms, and curb appeal. Research shows that home owners can get over eighty percent return on their investment for minor kitchen remodeling, so the kitchen appears updated. The return on investment for bathroom remodeling is almost ninety percent. Return on investment for curb appeal often reaches 100 percent.
Kitchen and bathroom remodeling jobs do not have to be extensive or wildly expensive. They can be as simple as updated fixtures and fresh paint. If the kitchen is very dated, new cabinet doors can go a long way. Cleanliness is also a big seller. If you aren’t able to spend a lot remodeling the bathroom, at the very least make sure it is sparkling clean when the house is being shown.
Improving the curb appeal is also relatively easy and low cost. It can include adding flowers around the front of the house, making sure the grass is green and freshly mower, and having good lighting in the front of the house.
New home buyers are also looking for a deal, and they are willing to shop the market to find that deal. For that reason, HGTV recommends selling your house at fifteen to twenty percent less than its value. This will attract more buyers because they see it as a great deal, and they will also be less likely to try to haggle with you over the price. You still want to leave yourself wiggle room on the price taking into consideration closing costs and what not.
Selling a house can be stressful, but if you are well prepared and understand the buyer expectations for your area, you can put together a plan with your agent to sell the house quickly without giving it away. Some of the most basic advice a realtor will provide is to make sure the house is clean, clutter free, and well lit for all showings. Open all the window dressings and turn on all the lights. Keeping the house clean and clutter free will provide the illusion that the house is easy to maintain and spacious.