My real estate practice includes working both with Buyers and with Sellers. I try to work equally with each type of client. I believe that understanding how each group is thinking helps me to better represent the other group.
I have been talking to listing clients lately and found myself repeating what I am seeing my buyers looking for in a new home. Just as all all real estate is local (which usually relates to price), so are the preferences shown by buyers.
Northern Virginia buyers are, as a whole, extremely well educated and informed about local real estate. Both their expectations and their standards are high--at all price points. I find that they appreciate advice, but often keep their own council as to what features and updates they must have in a new house.
Here are some of the things I have seen as important to buyers in the Northern Virginia Real Estate market:
- Granite counter-tops
- Stainless Steel appliances
- Hardwood floors and stairs
- Updated lighting fixtures
- New carpet
- Fresh, neutral (but not flat white) paint
- Crown molding
- Outdoor space (deck, patio, balcony)
- The property is in fantastic condition
This is list is not new or unique, but it should be a guide for sellers as they think about preparing their home for sale. The properties that get the most money and sell the most quickly are those that the sellers invest some time and money to update the property to local buyer standards.
If you are a buyer, don't underestimate the value of considering a home that maybe does not have these updates and one that you could put your updates into. You may find that an house without updates will take a little work and an initial investment, but you will have a home that suits your tastes and preferences.
If you are a seller, think like a buyer as you prepare to sell your home. Knowing what updates are important to a buyer will help you prioritize your home sale preparations.
Understanding how the person on the other side of a transaction is thinking will help you make good decisions as you contemplate your Northern Virginia real estate transaction.
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