Give millenials what they want
Move in ready
Drop your bags
Bring your toothbrush
Insert favorite HGTV catchphrase here _____________________________
If you're looking to sell quickly - just give buyers what they want!
Back in the day (that's right, I went there), expectations were lower. The bar wasn't set so high. When you bought a new house, you could expect that, at a minimum, you would be painting walls and laying new carpeting. Today, we might update that to read sanding and refinishing wood floors.
Every real estate agent knows that a beautifully finished home will be snapped up immediately. Those serious buyers who have kept an eye on neighborhood inventory will instantly make an offer on a home in mint condition. No one seems to have the time, resources or desire anymore to take on extensive renovation projects. Unlike HGTV, repairs are not completed in half an hour.
But if you have a home that needs work, at least offer it for a fair price. After all, it's not just the cost of the updates but the headaches, as well. My recent home renovation left me without access to the kitchen and other rooms for several weeks. My family made do with takeout, sandwiches, salads and the occasional restaurant. It may sound like fun but it gets old. Try restricting man's best friend from the not-quite-dry new flooring and experience the sensation of shaving years off your life.
If it's been a couple of decades since you've poured money into your home, do not expect that it will reap top dollar. It will not.
Your house will sit on the market and become stale. Buyers will pass it by. Let's face it. Everyone is looking for a good buy. Everyone wants to feel like they've received value for their money. You can't have it both ways.
So, if you're able (and these are the operative words), give buyers the updated home they're clamoring for. In the long run, your transaction will be faster, smoother and yield a higher profit.
Of course, age, health, and resources may make it impossible for you to compete with all the remodeled homes for sale on the market. In that case, be realistic about your price.
Local newspapers have reported a disconnect between what buyers want and what mature sellers are offering. The mindset of, "it was good enough for me" doesn't quite translate with millenials who notoriously do not settle for less than they desire.
If you're up for a home improvement project, an ultra-modern kitchen will continue to be the most sought after, bringing in a high return on investment, and followed closely by baths.
It makes perfect sense as mealtime is the core of the family.
Food is love. Lifelong memories are made in the kitchen.
Make it a space to be proud of.
No matter how you spend your day, come home to this
Long Island Real Estate Needs?
Reach me @516.395.8376
Long Beach is a diverse community that is never short on entertainment. Interested in moving to Long Beach?
Don't hesitate to call me and we can begin our tour.
CHARLES RUTENBERG REALTY INC. ***** 516-575-7500 *****
ABOUT THE AUTHOR: Graduate REALTOR Institute
Jill Sackler, NYS Real Estate Broker Associate based on Long Island's South Shore
Specializing in Lifecycle Real Estate Transitions
©Jill Sackler 2010