Selling Your House For What It’s Worth In Uncertain Economy
Selling a house can be intimidating…
Despite the higher interest rates, the market is showing that there will be an increase in buyers looking for newly built homes this year. Since there aren’t enough new homes or manpower to supply what is needed, the result will be a rise in price for newly built homes.
So, what does this mean for sellers?
The high prices of newly built homes will be the sellers saving grace; the buyers will be looking for alternatives. The caveat to this is there will be a lot of competition due to the fact there is only a slight increase of buyers to the market this year.
To ensure you’re not one of the sellers who will be boxed out, make sure you hire a realtor who knows the ins and outs of the market. An outstanding realtor will know the demographic’s of your area and market directly to the people whom it interests.
In addition to a great realtor, make sure you invest in a home stager. According to the HSR survey, 85% of staged homes sold for at least 6-25% more than non-staged homes!
Who are the buyers?
Drum roll, please…
45% of home buyers are the internet savvy millennials!
There are a couple of things you’ll want to keep in mind while selling to millennials.
They know the internet! This is where they do their research and find the bulk of the information which will help them to decide a home to buy.
With that said, you want to beef up your online presence to draw buyers in so they’ll want to visit your home first.
This is where a professional stager would benefit you. An OPO professional knows how to set up furnishings and decor creating beautiful online photos, as well as open house walkthroughs that are bound to impress.
Another thing about most millennials is that they tend to like usable, uncluttered spaces. This means you’ll want to clear out all of the extra items in your home to really show off all of the storage spaces which your home provides.
OPO can also provide professional organizing to help you cut the clutter and utilize your storage areas optimally. With an organizer and stager hand in hand, you’ll have no competition with other sellers; your home will be sold before you know it!
Tips for preparing your home…
There are some cosmetic changes which will get you a return on investment and help you stand out from your competition.
- Replacing caulk and re-grouting, replacing the toilet, mirror, and fixtures in the bathroom (102% ROI)
- Ensure that you spend the extra bucks on energy efficient appliances. If you end up replacing any, this is important to the millennial buyers
- When completing any kitchen renovations, use under the counter appliances if possible, this newer trend allows for more counter space
- Repaint or reface cabinets
- The right choice on flooring could add 2.5% value to your home
- Utilizing natural light to choose the right paint colors
- Updating fixtures to accommodate the flow of the house
Don’t forget the curb appeal…
- Greige, gray, or navy blue front doors are hot right now
- A few flowers and some landscaping will add a ton of character
- Stone veneer on the bottom 1/3 of the facade has a 94.9% recoup
- Replacing the garage door will almost pay for itself with a 97.5% ROI
Selling a house can be overwhelming, an OPO representative will make selling your home an easy transition to the next chapter of your life.
Give us a call today to find out more, (443) 812-1806.