Sellers look at a home, first to see what they like about it, and second what they will need to change to make it “their home”. Preference items differ from items needing repair or replacement. If the house is recently painted and has new carpet it is better off than a home needing carpet and paint, even if the colors are not to the buyers liking. In this situation, the buyers will usually not deduct the cost of paint and carpet from the price of the home. Some sellers try to dodge the “old carpet and paint” issue with a paint and carpet allowance included in the listing information. The harsh reality is, if someone is looking at a home in need of paint at carpet they are already mentally deducting it from the price they will offer. In most cases the price they are thinking of to paint and carpet is usually higher than the actual cost of these items.
Hopefully this helps clarify the different lenses buyers and sellers look at homes through. When trying to sell a home it is important to remove as many obstacles as possible to make the purchase easy for the buyer. A home that is clean, updated, and looking it’s best, will bring the quickest offer. Buyers look at homes in price ranges. This means that when you list your home you will be in competition with other homes in your price range. It is a good idea to become familiar with your competition. Look at your competition online and see how your home stacks up. It might even be helpful to visit the homes in your price range. It is also important to look at similar priced homes outside of your neighborhood. Many buyers are more interested in the price than a specific location.
This blog post was shared by Kevin Richey.
View Kevin’s website HERE.