Does Your House Attract An Audience
A few tweaks and upgrades can send the right buyers through your front door.
Some locations attract families with school-age children, and some are much more retirement friendly. But what if the house you want to sell doesn't mesh with the average buyer? It's true that every buyer wants something a little different in a house. But if you're marketing to a particular group, it pays to know what they need in the next home of their dreams.
Here are a few ideas for updating your home to make it more marketable to the local crowd.
Families with Children Need Everything
If your house sits in a terrific school district, you definitely want it to appeal to families that have children. There's no short list of things that these families typically want, says Realtor.com, and it all boils down to convenience and space.
The most marketable homes have a few bathrooms and a least one bathtub, especially if there are small children, and an ample laundry area where a large household full of clothing and linens can be tamed. Closets are critical, and so are plenty of electrical outlets. If there's a pool, it should have a proper safety fence surrounding it.
If the garage is small, that might be a problem. But a storage system in the garage for toys and sports equipment makes it more appealing.
Younger buyers are definitely swayed by kitchens and bathrooms.
Millennials are Forward Thinking
The youngest crowd of home buyers also has definite ideas about the perfect home. One thing that doesn't appear to make a difference is whether or not the house needs work. The group is split between those who don't want to swing a hammer and those who relish the idea of sweat equity.
That said, updated kitchens and bathrooms are big sellers to the millennial group. They want these modern rooms, but the cost of doing it themselves might be off-putting after saving for a mortgage downpayment. The better kitchens and baths look, the better your chances of appealing to this market. Dining rooms don't seem to matter much at all to millennials, but home offices do.
Selling to millennials requires great staging, and lots of information available online. Staging has become the norm after years of HGTV rooms, so it's worth it to hire a professional stager. Bankrate says nearly all of these buyers spend time searching through home listings online.
Retirees Might Just Surprise You
If you think that most retirees are looking for a tidy little, unfussy spot to settle into an easy chair, you might be surprised. While some buyers in this group do, indeed, want something simple, many have no intention of becoming a stereotypical retiree.
Only about 10 percent of retired home buyers make (or want) any sort of accessibility alterations such as ramps or wider hallways. That's according to Next Avenue. But they do want a home office, and CNBC says that a main-floor master bedroom is a plus.
Assisted Living Today recommends lever-style doorknobs and grab bars in the shower, if you want to make some updates. And a step-in shower for the master bath that is not part of a bathtub configuration is also a good idea.
Location, location, location' has long been the battle cry of real estate professionals. But the perfect location means something different depending on who you ask, and those people have their own specific needs in a house.
If your home is prime real estate for growing families, it's all about space and convenience. For millennials, a good-looking house with kitchen and bath updates could make the sale. And if your area attracts retirees, a convenient master bedroom and bath are your primary concerns.
One thing that spans every group of home buyers is energy efficiency. A new HVAC system, efficient windows, and any other energy-saving updates are well received.
The big takeaway is that while each group has its own desires, you shouldn't get in over your head just to make the house more marketable. Too many upgrades, and you'll spend a lot without getting much back in return. Opt for the biggest bang for the smallest buck wherever possible.
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