If You Don't Want To, What Makes You Think Your Buyer Will?

By
Home Stager with Hampton ReDesign, Home Staging and Redesign

There's always a lot of debate about whether to upgrade your home before selling it or sell as is.

Will you make your money back?
Will you make money on your upgrade?
Will the buyers like your choices?

In the past, as a seller, you could get away with giving an allowance for repairs, new carpet, new paint or a new roof for example. But now the average home buyer may not be prepared to update or repair.

According to NAR
The average age of the first time home buyer is 31.
The average age of all home buyers is 42
First time buyers account for about 40% of home buyers.

This gives you a snapshot into who might buy your home. Chances are they are in their 30s and are both working in order to afford their new home.

Generation X is juggling both career, family and finances. Time for repairs, remodeling and cleaning may be limited. Gen X couple

Leaving repairs and minor updates to the buyers discretion isn't always a good plan. Assuming buyers KNOW how much it will cost them to change out carpet or counter tops, still leaves the X factor of how much they will deduct for the trouble of doing it.

Leaving your home for the next person to clean and update is a red flag to first time home buyers, who have little time to process the cost and less time to make the effort.

If you don't want to clean your own home and make minor updates and repairs, be prepared for buyers to feel the same way. The offers you get may be lowball.

Yes you can reduce the price but it always make sense to sell your home as if you were buying it. Clean, updated and ready to move into!

Posted by

Tessa Skeens

Interior Design, Real Estate Staging and Marketing Support 

M 817-891-9563  

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Will Nesbitt 06/10/2014 04:05 AM
Topic:
Home Selling
Location:
Colorado Arapahoe County
Groups:
Realtors®
Stage It Forward...
Home Staging
Real Estate Staging Association
Tags:
generation x
average age of the first time home buyer
upgrade your home before selling it or sell as is
allowance for repairs

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Rainer
106,853
Rob Marken
Bend River Realty - Bend, OR
25+ years experience in Bend

Great point!  Many buyers are not willing to make repairs and would prefer to purchase a "move in ready" home.  Sometimes making a few changes ahead of time can really help sell a home. 

Jun 10, 2014 01:34 AM #1
Rainmaker
3,413,465
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Tessa,  You are right on target with your blog, most buyers are having a hard enough time scaping money for down payment.  Hope all is fine with you.

Jun 10, 2014 02:13 AM #2
Rainmaker
120,864
Tessa Skeens
Hampton ReDesign, Home Staging and Redesign - Grand Junction, CO
Staging For Realtors, Builders & Investors

Thanks Rob, I agree. No one has time (except investors) to fix up a home after buying. Move in ready is the way to go!

 

Jun 10, 2014 10:32 AM #3
Rainmaker
120,864
Tessa Skeens
Hampton ReDesign, Home Staging and Redesign - Grand Junction, CO
Staging For Realtors, Builders & Investors

Hi Will!  You're right on. With home prices up, buyers want to get all the value they can out of their purchase without paying more once they close.

Hope all is well with you and you're enjoying our return to sunshine.

Jun 10, 2014 10:34 AM #4
Rainmaker
4,323,703
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Tessa, great post, and the homes already remodeled are the ones getting the highest and quickest offers!

Jun 11, 2014 12:12 AM #5
Rainmaker
120,864
Tessa Skeens
Hampton ReDesign, Home Staging and Redesign - Grand Junction, CO
Staging For Realtors, Builders & Investors

Hi Joan, that's what it's all about. Everyone getting the most bang for their buck!

Jun 11, 2014 02:48 AM #6
Rainmaker
955,312
Kwee Huset
Kwee Huset Realty - Venice, FL
Venice Florida Homes For Sale

Hi Tessa, at present most of the buyers in our area are looking for move in ready properties. BTW just stopping by to say " Hi" after reading Debbie Laity's Saturday Subscriber Finds 59

Jul 14, 2014 11:29 AM #7
Rainmaker
120,864
Tessa Skeens
Hampton ReDesign, Home Staging and Redesign - Grand Junction, CO
Staging For Realtors, Builders & Investors

Hi Kwee, thanks for stopping by! It's rare when a buyer who is not an investor wants a less than move in ready home. Especially when they are paying top dollar.

Jul 15, 2014 02:32 AM #8
Rainmaker
58,657
Beth Bromund
Coldwell Banker Weir Manuel - Rochester, MI
REALTOR (248) 651-3500

This is still as relevant today is it was when you wrote it - the only difference being now it's Millenials who are in that demographic.

Jan 18, 2017 09:15 AM #9
Rainmaker
120,864
Tessa Skeens
Hampton ReDesign, Home Staging and Redesign - Grand Junction, CO
Staging For Realtors, Builders & Investors

Thanks Beth - good luck with your business!

Jan 18, 2017 01:11 PM #10
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Rainmaker
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Tessa Skeens

Staging For Realtors, Builders & Investors
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