As the seller, you can control
three factors that will affect the sale of your home:
* The home's condition
* Asking price
* Marketing strategy
However, it's important to note that there are numerous
other factors that influence a buyer, and you need to
understand these consumer trends when you enter the sellers'
market. The more your home matches these qualifications, the
more competitive it will be in the marketplace. Your real
estate agent can advise you on how to best position and
market your home to overcome any perceived downsides.
Location
Unfortunately, the most influential factor in determining
your home's appeal to buyers is something you can't control:
its location. According to the National Association of
REALTORS(r), neighborhood quality is the No. 1 reason buyers
choose certain homes. The second most influential factor is
commute times to work and school.
Size
While some buyers want to simplify their lives and downsize
to a smaller home, home sizes in general have continued to
increase over the decades, nearly doubling in size since the
1950s. Smaller homes typically appeal to first-time home
buyers and "empty nesters," or couples whose children have
grown up and moved out.
Amenities
Preferences in floor plans and amenities go in and out of
fashion, and your real estate agent can inform you of the
"hot ticket" items that are selling homes in your market. If
your home lacks certain features, you can renovate to
increase its appeal, but be forewarned: That's not always
the right move. Using market conditions and activity in your
neighborhood as a gauge, your real estate agent agent can help you determine
whether the investment is likely to help or hinder your
profit margin and time on the market. |
