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Does Your Home Have What Buyers Want?
A homeowner who desires a property to stand out from the competition must view everything as a business transaction. Emotional attachment to a home can impact potential buyers and make it difficult to detach from the property. Sellers who transition away from emotional connection into investment mode reap more financial rewards. Learn what potential buyers are looking for and how to make an existing property for sale more marketable.
Wish Lists
Homes sell quickly that have desirable features on a buyer's wish list. Retailers work to understand this market and corner it for profit. The same goes for selling a home. Mentioning the top features in a listing description can net a premium in how fast the home sells and the final sale price. Features such as 'barn doors' or 'subway tiles' can net as much as 13 percent more than expected and nearly 60 days faster than homes without the features. Carefully worded listings have an impact on a person's impression of a property.
Some of the following features are on the top of buyers wish lists in the current market:
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Barn doors: homes with this description net 13.4 percent more than expected. Rustic sliding doors can be found in craftsman-style homes, in bedroom closets or kitchen pantries.
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Shaker cabinets: homes featuring this item sold for 9.6 percent above expected value and 45 days faster
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Farmhouse sink: homes with the trendy but functional kitchen sink net a nearly 8 percent sales premium
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Subway tile: the added aesthetic and design feature of subway tiles catch a buyer's eye and sell for nearly 7 percent more than expected and 63 days faster.
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Quartz: typically found on kitchen or bathroom counters, listings with the word 'quartz' sold for a 6 percent sales premium while homes with 'granite' only saw a 4 percent sales price boost.
Buyers in today's market prefer turnkey homes to renovations, updates and bells and whistles. The more features to entice a potential buyer, the better.
Big Rooms
Two of the biggest spaces in a home that have potential to sell a property are the kitchen and bathrooms. If a kitchen or bathroom is outdated, modest upgrades can really add value to the home and overall appeal to potential buyers. Splash some white paint on the cabinets, freshen the look, buy some stone countertops and replace old faucets with shiny, new ones.
Buyers Market
Certain features help sell a home more quickly. Even with time at a premium, it is beneficial to hire contractors to come in and do some minor upgrades to help sell a property with features from a buyer's wish list. Subway tiles in the kitchen or bathroom, barn doors and craftsman features have a proven track record of selling homes faster. Play up the features to help sell property in today's market.
Get more advice on how to create a home that attracts buyers.
Contact one of our agents today.
