Today we’ll be reviewing a few essential tips to help traditional sellers compete with the new construction properties on our market.
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Given the popularity of new construction properties, how do traditional home sellers compete? Actually, there are several ways to make sure your listing stands an equal chance on the market and we’ll be discussing a few such tips today.
First, walk through your property and examine it with an objective eye. Does your paint need to be freshened up? Are your carpets in good shape? Asking yourself questions like these will help guide you through any necessary updates your property may need. You may even want to consider staging.
Also, don’t forget to check your curb appeal. The exterior of your home and the landscaping that surrounds it should make your property look appealing and inviting.
After you’ve followed this first step, consider how the location of your property will factor into your sale. To compete against a new construction home, you’ll need to be able to show buyers why your property’s location is better than that of a new construction home. Thankfully, this shouldn’t be too difficult, as most resale home sites in our area were built in prime locations. The “better dirt” sold first, so to speak, whereas today’s builders are tending to build farther east and farther south than those before them. In other words: Many existing communities have more desirable locations.
Considering who built your home, and then leveraging any positive information about that builder, may also benefit you during the listing process. At some point, every property started out as a new construction home. If your home was built under a higher standard, use this fact to your advantage when competing with today’s new construction properties.
Next, when considering what your property has to offer over a current new construction home, you should also talk to your agent about what drew you to purchase it to begin with. After all, these reasons may be the same ones that motivate your home’s next buyer to make an offer as well.
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At some point, every property started out
as a new construction home.
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as a new construction home.
When your agent knows what features and amenities you love most about your home, they will be able to create a more comprehensive description of it when presenting it to buyers. Of course, you’ve likely made some improvements and upgrades since moving in, so be sure to make note of these as well.
Make a definitive list of all the ways you’ve improved the home, taking care to include the value added by each of these improvements. Buyers will get a better idea of your home’s true worth when it’s laid out this way. Our team has gotten top dollar for our sellers using this tip alone. Oftentimes, buyers are shocked to see the price difference between a high-quality resale home and a new construction property with similar features.
With all of this in mind, the way you present your home to the market will be just as important as your property itself. For example, using professional photography, including drone footage, will be essential to how your home performs on the market.
By leveraging this and the other tips we’ve shared today, you will be more than capable of competing with any new construction home.
If you have any other questions, would like more information, or are curious how our team helps you compete with home builders in our area, feel free to give us a call or send us an email. We look forward to hearing from you soon.
