If your house is a ranch, someone probably wants to buy theirs. If your house is a big center hall colonial, fewer buyers want it.
Yes – today’s buyers, 42% of them, want a ranch. They want their new ranch home to have three bedrooms, two baths, an updated kitchen and a garage. They also want a large back yard with plenty of privacy. And they want to live in a good school district. This information comes from a survey by Realtor.com that tells us what today’s buyers are looking for in their new home.
Now – is this a fair description of your home? If it is and you want to sell, you should start looking for your new home now, because as soon as your house hits the market, you’ll have lots of buyers coming through the door.
But there are also some things that the buyers do not want. What are they, you ask? Well they aren’t looking for a house with a man cave. And they don’t want solar panels on the roof. Does your house have a guest house or a mother in law suite? Sorry to be the bearer of bad news, but they don’t want either of these.
Today’s buyers are motivated to purchase a new home because they have to fulfill their family’s needs. Major changes in their lives such as marriage, a growing family or getting ready to start a family are the driving forces behind their wishes. Hence the large backyards and the desire for a good school district.
The buyers over 45 have different motivations though. They seem to be looking to downsize. Face it – the kids are off to college and won’t be coming back. This means it’s time to get into a smaller house and begin planning for retirement.
Armed with the information I’ve given, when you’re ready to sell your existing home you can use this information to highlight the areas of your home that today’s buyers are looking for.