The spring real estate market is heating up!
With inventory at an all-time low throughout most of the country, rising rent prices and lack of new construction, the tide has turned to a seller’s market. But don't despair, buyers.
Whether you’re looking to buy or sell, Aubrey has a load of tips for you as you venture into the real estate market.
When you’re at an open house or viewing a home, what should you look for?
Pay attention to whether the home is clean and orderly. If they didn’t make the bed, what makes you think they’ve done maintenance on the heating and air conditioning?
Also check out how many other people are there, if it’s an open house. If you like the home, they likely do as well — so you’ll want to make a move quickly.
What are the red flags a buyer should look for?
See if the basement smells musty — this could indicate water leaks that haven't been properly repaired.
Also look for evidence of a ceiling repair, which would also point to a prior leak.
What are the good features a buyer should look for?
Keep an eye out for new mechanical systems, like heating and air conditioning, which will help you avoid putting money into upgrades in the near future. Also, if the roof is new or in good repair, that’s another cost you won’t have to worry about any time soon.
Price your home right
Don't overestimate your position just because it's a seller's market. The homeowner is responsible for the price, but they often argue with the real estate agent. It's no longer smart to set the price high expecting the buyer wants to negotiate a lower price. Real estate buyers are smarter now from all the information that's on the internet, and they know how much a house is worth.
Upgrade walls and floors
Walls and floors have the most impact on the sale of a home. This is the one thing you should upgrade when selling. Paint the walls, and it's even less expensive if you can do it yourself. Upgrade to wood floors, or upgrade to new carpet. In general, you can expect to spend $10,000 to get ready to sell your house. You need to spend money to make money.
Make mid-level kitchen and bath upgrades
have a high return on investment as well this means Whirlpool or GE, not Wolf or Viking. Not marble, but white tile. These are a better return on investment. You want to get the Buick not the Mercedes, too low or too high is not good.
Have a white fridge, a white stove and a stainless dishwasher? It's like having a red Ferrari with gray door. It looks like it's been wrecked and who wants to buy that? Get new, matching appliances. Not doing this could cost the sale.
Keep it light
Heavy/dark window treatments tend to make houses look smaller and more cave like. Removing them is a must.