The real estate market is competitive. Buyers are looking to get the best deal and purchase a house at rock bottom prices. Home sellers are trying to get as much money back from their investment and sell at the high prices. In this situation, someone wins and someone loses.
Below are three ways for home sellers to generate interest in a house and get the price they want.
This is a newer concept that is becoming popular on the real estate scene. Home sellers should take note: homebuyers are willing to pay more for a house that already has updated technology or smart features. These smart features can be as simple as an automated thermostat and as costly as solar panels. A few upgrades to make an older house comparable to newly built houses will have buyers excited.
The appeal for buyers is in avoiding the cost of installing these smart features once they move in. More features in a house mean fewer updates right away. It also helps to keep older houses in the running if many new properties have been constructed nearby.
That being said, smart features are not something that homebuyers actually vocalize as a “want.” They are almost never on someone’s must-have list. However, smart features are almost always something buyers look for. It is like free sample day at the grocery store: few people go just for the free samples but they are really excited if they happen to be shopping at the right time.
Most smart features are focused on allowing families to have a more automated household that saves them money and keeps them safe. This is appealing to any homeowner. Popular features that do not cost a lot for home sellers to install are automated thermostats, smart locks, and smart lighting.
Most home sellers are concerned about their return on investment. Investments in smart features can help a buyer rationalize paying more for a home. This does not mean that the house is now worth thousands more but a slight increase in price could be manageable.
More buyers are willing to offer closer to the asking price for a house with smart features. They may even haggle less in fear of losing the property to someone else. Overall, home sellers are likely to see a higher offer if their home has these features installed.
Buyers are smart. They understand that the value of the house is not more because there are a few smart features. However, they also know that there was money, time, and labor put into updating the house. With this understanding, they are a little more flexible in their offer and are willing to increase their offer to match what the seller desires.
Just having smart features may not seal the deal with interested buyers. However, the amount of savings that can be had from these features is a great advertisement tool. Every buyer wants to know that their house is going to save them money. Having these smart features can help decrease bills and even expenses. This is worth a lot to buyers.
Advertise the MERV rating of the furnace if it is high. This rating measures how much dust or pollutants are circulating in the home. The better the MERV rating the purer the air will be. Homeowners will have no need for an air purifier and will enjoy breathing fresh clean air.
A furnace will also have an AFUE rating. This rating has to do with the efficiency in fuel that the furnace consumes. With a better AFUE rating the furnace will not take as much to run and therefore the utilities will be greatly decreased. Any feature that is going to increase their quality of life or decrease their utilities is worth mentioning.
A home that has smart features is worth more in the eyes of a buyer. While these smart features do not have to be as extravagant as solar panels, buyers still understand the savings they can get from an automatic heating system. Investing in smart features will help home sellers get the maximum profit from selling a home and keep a buyer happy.