An article in RISMedia points out that even though many experts are predicting 2014 will be a seller’s market, there is no room for complacency. If you intend to list your home this spring you might be tempted to think there’s no need to do very much to get it ready for sale.
Even though inventory levels are still quite low and buyers may be competing for homes, this doesn’t mean they will be willing to compromise for anything that is less than perfect. In fact it could be quite the opposite as many buyers will be determined to get value for money when investing in what could be the most expensive purchase of their lifetime. According to experts homes that already have most of the features on would-be buyers wish lists are more likely to sell more quickly and for closer to the listing price. There’s even a chance they could sell for more than the listing price.
While features such as good insulation and energy efficient appliances are still important, today’s buyers are looking for ever more innovative features. These can include energy-efficient skylights, and intelligent controls for heating and cooling systems and for lighting. In fact skylights seem to be particularly popular as some 55% of homebuyers in a recent survey carried out by the National Association of Home Builders, replied that skylights were desirable or essential. Adding solar powered skylights can boost indoor air quality and boost energy efficiency.
In the past many people opted for the largest homes they could afford, but since the recent downturn opinions have changed. A large number of families downsized into smaller homes, and quite a few have discovered the appeal of living in a smaller and more energy efficient space, as well as having a lower mortgage. With this in mind, rooms need to be designed to maximize the space available and nowadays a compact kitchen can be perfectly salable if it includes well-planned storage.
Over the next few years many baby boomers will be looking to purchase property that will allow them to age gracefully. Features such as larger bathrooms or open floor plans that can easily be adapted to accommodate mobility challenges or vision challenges are in demand. These include ground floor bedrooms, bathrooms that can be adapted to deal with mobility issues and smaller yards that are virtually maintenance free.
Even though 2014 may be more oriented towards sellers rather than buyers, a faster sale can be achieved through knowing exactly what buyers are looking for.