In the last few years, the internet went from a luxury to a ‘full-of-knowledge’ everyday use. Thanks to this digital age, we have access to just about anything, which means property buyers are more informed than ever. Because of this, there are non-negotiables for property buyers. What does that mean? It means you won’t have any luck trying to fool a property buyer in this digital age. Here are just a few of those non-negotiables:
1. Fair Market Value
Since just about every listing is online, it is possible to compare alike listings in similar neighborhoods. It will be obvious when a seller or agent is attempting to over-price a property. Property buyers have the ability to compare, which means they are less likely to look at an overpriced property.
2. Growth Potential
A lot of things in today’s world have grown or risen, some of which are for the worst- like bonds costs, legal fees, and interest rates. All of these aspects can make a property more expensive than the asking/purchase price. That being said, property buyers are more likely to buy and retain the land long term. Buyers are looking for property that can create a future financial growth and accommodate lifestyle changes.
Most buyers have location as top priority. Whether it is being close to work, in a top-rated school district, or a specific view opportunity, location is high on the non-negotiable list. While this is something that cannot be changed, it is a key factor when it comes to marketing the property.
4. Overall Condition
A good first impression is important. For property buyers, overall condition of the property is key- they will be less inclined to purchase if they do not believe the property has strong bones.
It is important to note, as well, that it is not just about the property itself; another key factor is the amenities included. There are some minor (and some not so minor) updates that can make a huge improvement in a home and peak a buyer’s interest. One of the essential amenities include central heating and air, which property buyer’s claim are willing to pay nearly $6,000 more for. Another is an outdoor space, whether it be a porch, deck, or covered patio; most are willing to pay an extra $7,000 for this amenity. A spare room is in the top three of the most wanted. And lastly, flooring. Most buyers prefer to have a hardwood or tile floor, and are willing to pay more than a home with just carpet.
If you are updating your home, or simply selling your home, keep these non-negotiables in mind. Thanks to the internet, property buyers have access to everything, including that home down the street! If you are in need of some real estate advice, or are looking to purchase, call your real estate experts today!
In the mean time, see some of our featured properties below!