It’s important to note that there are numerous other factors that will influence a buyer, and you need to understand these consumer trends when you enter the sellers’ market. It’s important that you keep your home competitive while on the market. Your real estate agent or broker can advise you on how to best position and market your home to overcome any perceived downsides.
The most influential factor in determining your home’s appeal to buyers is something you can’t control: its location. According to the National Association of REALTORS, the neighborhood quality is the No. 1 reason buyers will choose certain homes. The second most influential factor is commute times to work and school.
Keep in mind that there will be some buyers who wish to downsize or who will want a smaller home, but over the years, homes have continued to increase in size, almost double of what it was in the 1950s. Smaller homes typically appeal to first-time home buyers and couples whose children have grown up and moved out.
Peoples preferences in floor plans and amenities continue to go in and out of fashion, and your real estate agent or broker can help you and familiarize you of the “hot ticket” items that are selling homes in your area and market. If you home is missing or lacks a particular feature, you can renovate the house to increase its appeal, however, you want to make sure that the investment you will have to make will actually help, no hinder, your profit margin in the end. I as your REALTOR can use the current market conditions and activity in the neighborhood to determine the best way to go.