The 5 Things Buyers Want in a Home and How To Maximize Your Home's Value in Response
January 12, 2022
Cary, NC — Cary continues to be one of the hottest housing markets in the Triangle, as well as the nation, and home sale appreciation continues to exceed historical highs.
If you are considering selling your home to take advantage of the market, knowing what today’s homebuyers are looking for, why Cary is so desirable, and how to maximize your sales price will produce optimum results. These are the top five things to keep in mind.
1. Location. Location. Location.
Buyers love the Cary area for a variety of reasons. For starters, tree-lined streets, delicious dining, and world-class events and entertainment are just minutes from anywhere in Cary.
Our region is growing by leaps and bounds and commercial development in Research Triangle Park and Wake County is driving significant demand for homeownership in and around Cary. Buyers from throughout the world continue to pay a premium for the short commute and proximity to the airport, the city, and the surrounding countryside.
2. Square Footage
Since spending more time at home these past two years, buyers truly value additional square footage. Dedicated work-from-home space and flex space that can be used in a variety of ways has become much more important to homebuyers.
Can a basement with an exterior entrance or a finished attic add value to your home? Yes, they can because these amenities are included in your home’s overall square footage when, otherwise, they are not.
Should you consider embarking on these home improvement projects as a means of increasing your home’s value in a potential sale? Is the juice worth the squeeze? These projects can be time-consuming and costly, yet the ultimate value added can make them worthwhile.
Buyers love a home that has been updated and finished to modern tastes. Kitchens and bathrooms with a unified design element can bank a huge return on investment. At a minimum, you may think of fresh paint as “money in a can”. A refresh to a neutral color can make a real difference in an offer price.
Buyers will pay more for a home that has been renovated and well maintained. If you have a budget for improvements, your local market expert can help you determine what needs to be done and what to prioritize for maximum return on your investment. Perhaps now is the time to consider that attic or basement project.
Everyone is looking for their piece of the property pie. While it might be difficult to increase your actual acreage, there are landscaping elements that can enhance the appearance of your property aesthetically and spatially.
Privacy screening and mature landscaping add value, and keeping shrubs and trees neatly trimmed produces a manicured effect that increases curb appeal and attracts potential buyers. Don’t underestimate the importance of what potential buyers see and feel about your property from the street.
Most home buyers have a budget and shop within it. How you price your house for sale can have a huge impact on how many offers you receive. Many sellers want to test the market to see how much their house will bring. In some cases, a counterintuitive strategy that can bring about excellent results is to price the house on the lower end of the spectrum.
The current market will correct a home price quickly and you may find yourself with a flurry of offers that push the value well beyond your wildest dreams. As always, the condition of your house and other variables will impact the strategy and pricing.
Creating a plan that results in the sale of your house for the highest possible price is achievable and will be influenced primarily by these five factors. How much is your house worth? The market will tell you quickly.
Buyers will pay more for some amenities than others. Knowing what buyers are looking for and laying out a timeline to address it, maximizing the positives and minimizing the negatives, will create a winning scenario for you.
Todd Harrison, a Broker at Todd Harrison Realty and local real estate columnist. Story by Todd Harrison, Broker at Todd Harrison Realty.
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