When you put your home on the market, you want it to sell quickly and for a reasonable price. To ensure a successful home sale, it is crucial to understand the current market and the preferences of potential buyers. By knowing what buyers are looking for, you can tailor your approach to the home sale process and increase your chances of a successful sale. While each buyer's needs are unique, there are several things that buyers tend to look for across markets as they pursue the home of their dreams. Working with an experienced realtor who knows your local market is essential to your selling strategy. Not only can a realtor provide you with key insight about what buyers are looking for, but they can also ensure that you market your property to the best possible advantage.
1. Curb appeal
If you want to sell your home as quickly and effectively as possible, curb appeal is essential. Buyers start making their decision about a property before they even set foot through the front door. In fact, sometimes, they may decide against a property before they even have the chance to tour it, based primarily on the way it looks outside.
Curb appeal encompasses all the elements that buyers can take in from their first outside view of the house. It may mean landscaping, tidying up the garden, or making sure that the exterior of the house looks as aesthetically pleasing as possible. When you take the time to update the exterior of your home, you'll find that it's more likely to appeal to buyers, making them more likely to trust what you have to offer as they explore the inside of the property.
Many home buyers know just how much room they need to store essential possessions, and they're looking for homes with that essential storage capacity. Storage is at a premium in smaller homes, making it crucial for buyers to see ample space for their household goods. Larger homes have the advantage of more room for closets and shelving units, which automatically provide more storage space. While there isn't much you can do about the current storage capacity of your home — especially without an extensive, and often expensive, remodel — you can highlight your existing storage. When you're preparing to sell your home and start packing up, your realtor will guide you on how to make the storage space in your home look more appealing. This includes decluttering shelves and closets throughout the property to create an illusion of spaciousness.
3. Outdoor living spaces
Many of today's homebuyers are looking for ways to make the most of every inch of their properties — including the outdoors. Outdoor living spaces are perfect for entertaining, cooking, and sharing with friends and family. From a cozy porch where they can enjoy a mug of coffee in the morning or a book in the evening to patios and outdoor kitchens perfect for entertaining, buyers are looking for outdoor spaces that are integral parts of the property.
As you prepare your property for sale, consider how you can highlight your outdoor space. Adding an attractive arrangement, cleaning up the trash and detritus around the area, or highlighting your patio area can make that space perfect for interested buyers.
4. Outdoor lighting
Increasingly, buyers are looking for outdoor lighting around their spaces, not just so they can make the most of every hour outdoors but for security purposes. Take a look at your outdoor lighting. Does it cover key areas of the property? Can you easily reach the door after parking in the dark, particularly if you need to park outside? Carefully examine your outdoor lighting and consider how an upgrade can make the property more attractive to buyers.
5. Energy-efficient homes
Today's buyers are savvy about the rising cost of energy. To help offset those costs, they're looking for energy-efficient homes. They want good insulation, including energy-efficient windows and doors, to help cut down on heating and cooling costs. Furthermore, they're looking for energy-efficient appliances that will keep their costs low. If you have an older property that does not include those key attributes, it may be worth upgrading before you put it on the market. On the other hand, if your property does have those amenities, including any recently updated appliances or windows, make sure you highlight those in the information you provide about the property.
6. Smaller property trends
Buyers are increasingly looking for smaller properties, including smaller luxury properties that have the amenities they're looking for to increase quality of life but that won't strain their budgets. Even luxury home buyers are looking for smaller, more easily maintained properties. This trend is due in part to the rise in housing costs, including high mortgage rates, which can make buying a home more expensive than ever. If you have a smaller property, now is your chance to stand out! By highlighting the affordability of that property, you may find that it does not linger on the market for long. If you have a larger property, don't despair. Many buyers are still interested in larger properties with room to spread out.
7. Rural areas
Many of today's buyers are moving to rural areas and smaller towns. They recognize that the fast-paced life of the big city might not be in their best interests, and they are looking for that close-knit feel that comes from living in a community where you have the chance to get to know your neighbors. If you live in an area that is appealing to potential buyers, especially one that has seen significant growth recently, show off the best parts of your neighborhood or community as part of your listing. Talk to your realtor about community events or locations that buyers might want to know about. If you know the local school district, this could be the perfect time to share more about the benefits of sending your kids to school there.
Get ready to sell your property with Sam Palmer
If you're ready to put your property on the market and attract potential buyers with the best it has to offer, Sam Palmer is here to help. Get in touch to receive comprehensive advice about highlighting the best elements of your property and getting it in front of the right buyers, maximizing your ability to seek the selling price you desire.