There are many factors that influence a buyer’s decision to buy a particular home. It is not feasible for sellers to meet all the requirements of prospective buyers but, there are some common things that are considered basic requirements and are expected. If you are unsure of how to steal a buyer’s heart or what investments can help you make a quick sale, compiled here are some frequently asked questions (FAQs) about home selling. Answers to these can help solve some of your dilemmas.
1. What key home improvements influence a home buyer’s decision?
Does the roof need replaced? Is the plumbing working? Do the walls need repainted? These are just some of the questions you need to ask yourself. There are so many repair options to consider, but the answer depends on individual preference. Most home buyers want a house that doesn’t need tons of repair work.
The first two things to consider are the yard and exterior, including the entry. These two places are seen first and are the most important because they are a potential buyer’s first impression. Keeping the yard mowed, trimming the hedges, touching up paint, and replacing broken doors are important. In most cases the state of the roof is not considered by the buyer, unless the inspector informs them of problems. It is then possible to negotiate getting the repair done or offer an allowance for it. Keep in mind that hanging or missing shingles, overgrown hedges, and chipped paint lead a buyer to feel that the home has been neglected. You don’t want that. After all, you want them to be willing to come into the house.
Once a potential buyer is inside, they see halls and rooms. Wall coloring can sometimes turn people off. A basic white or neutral color is preferred by most buyers. A renovated bathroom can also give a positive impression, if it is done well. Make sure that there are no plumbing issues, loud noises coming from the furnace, broken appliances, damaged walls, etc. Most of these items are easy to have fixed and can make all the difference.
It has been seen that most sellers like to opt for repairs when they have money and time to spend, or they leave it to the buyers. However, if they do make repairs it becomes advantageous for them because in buyer’s perspective, the home that is easy to move-in is more appealing than the one needing lot of repairs.
2. Is selling a home with furniture a good idea for vendors and should a home be shown furnished?
The answer to this question depends on the preference of the seller. However, it does help to include furniture when the floor plan is unusual. For standard floor plan homes it is fine not to provide furniture. Some sellers may not want to move their furniture. If this is the case, they can always offer the buyer’s first choice on what they are interested in. Final negotiations can then be written into a purchase contract.
In most cases, a property with furniture allows buyers to visualize how their own furniture will look in the space. Most new housing developments come with furnished models to help buyers visualize and know what floor plan works for them. Clutter may divert a buyer’s attention from the actual spaces in the home, so it is better to only use essential furniture and offset that with elegant decorations. Besides, too much furniture can make a house appear small.
3. Does any new construction near my property affect my property value?
When it is about new construction in the neighborhood, it can attract a prospective buyer or affect your property value. Most buyers prefer new homes as this gives them the opportunity to customize. For instance, they can select paint color and settings according to their liking. However, if your property is of same size and square footage, pricing it slightly less than the new construction can bring the ball to your side of the court.
4. Does the property’s location affect its value?
Yes, property location can affect the value of a home. A home located next to a big factory, a garbage disposal site, a commuter railway, or a busy highway may not sell for as much as one located on a quiet, slightly travelled street. When a buyer is looking for a home, they take several items into account. These items can be beyond a sellers control and can cause them to have to reduce the price of a property. Below are a few items:
- Crime rate in the neighborhood
- Closeness to shopping outlets
- School ratings
- Noise levels
- Traffic on the street
- Parking availability
- Noise levels
- Neighboring houses and how they are kept
Courtesy of http://www.propertycluster.com/