How Sellers Can Compete With Newly Built Homes

Dated: 07/14/2014

Views: 628

While it’s common for many homeowners to feel like their property is the best in the neighborhood, when it comes to selling it’s important to be realistic about the competition - especially if that competition includes newly-built homes.

It’s important to take stock of what’s going on in your neck of the woods - if you live in an area where new homes are popping up here and there, then you’re not only competing with other existing homes on the market, but also the newly-built properties. While it’s impossible to make your house younger than it is, there are some things you can do to better prepare yourself to compete with newer houses in your neighborhood.

Scope Out the Competition
Before you put your home on the market it’s a good idea to take a look at other homes in your price range that are for sale - including both resales and newly built homes. This not only gives you ideas on how to position your home and price it appropriately, but the newly-built homes in particular may also give you some design ideas.

Property condition:
Model homes in nearly perfect condition can provide you with ideas on the latest decorating trends and also help you maximize the best features of your home and minimize the least appealing features. When you begin improvements to your home beware of overspending – it’s really amazing what a fresh coat of paint in the latest neutral tones of pale grey or beige and a good decluttering can do!

Put yourself in the buyers’ frame of mind: When buyers look at potential homes they want to visualize how they would live in it, not how you’re currently living there. Because of this you’ll want to do some basic and consistent housework - keeping the dishes put away, ensuring beds are made and towels neatly hung up, etc. Basically, you want to take your personality out of the house so potential buyers can see themselves in it.
Look at your curb appeal: Model homes typically have fresh landscaping and freshly painted trim, so you should do the same types of things to your house to attract buyers. Sprucing up the exterior is one of the best I investments you can make prior to putting your home on the market. 
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Ken Blevins

Ken Blevins, Chief Executive Officer of Metrowest Real Estate Services, is a veteran in mortgage and default servicing with more than 23 years of experience in collections, foreclosure/bankruptcy, los....

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