At AMI Lenders in Houston, we have been helping real estate investors in many ways other than by providing them with private money mortgages. Over the years, one of these ways has been to answer questions related to real estate. One question we keep being asked year after year is: What aspects could help someone sell a house faster?
Let us say that -all things being equal- two things are fundamental to selling a house faster than others in the same area: (1) location, location, location, and (2) discounted price. Now, setting these two considerations aside for a moment, the answer we have come to provide our friends and clients has two sets of answers: one which includes enduring aspects and one in which factors shift as homebuyers’ tastes and needs shift (or evolve).
Enduring aspects for selling a house faster.
Most realtors provide their clients with tips and advice on making their for-sale house more alluring to prospective buyers. Some of these tips have not changed for decades. Thus, we have labeled them for this blog entry "enduring aspects” of faster home selling.
- Clean everything. Few things in house hunting are worse than coming into a messy home. Apart from the disorder, it gives the prospective buyer a sense of unease that they might be missing a detail that will eventually be costly to repair.
- Make sure natural light comes in (you might need to clean the windowpanes and/or trim some branches). People naturally follow the light, so make sure there is plenty.
- Spruce up the exterior (curb appeal matters). Make sure there are no apparent signs of neglect, and even better, you want the prospective buyer to be enticed to come in and see the rest of the house.
- Consider investing in a professional photographer with real estate experience.
- Make necessary updates (we have written about this in previous articles and talked about it in video posts, for example, https://www.youtube.com/watch?v=Co6YktbH324&t=100s).
Recent aspects for selling a house faster.
Much has been written about house hunting during and after the Covid-19 pandemic. Basically, a new way of living and working evolved as a result of the widespread risk of falling ill to the new virus. So, it was logical to expect that tastes and expectations would evolve into what it is that makes a house attractive.
Regarding the "post-pandemic" house buyer, Zillow recently published interesting results showing which types of amenities “help sell a house for more” than similar homes without them. Based on our decades-long experience financing house ownership through private money loans, we have extrapolated these results to mean that a house with said characteristics will not only tend to sell for more but will also tend to sell faster.
The Zillow study is an interesting use of data science: they looked at 271 features and design terms mentioned in listing descriptions across nearly 2 million home sales in 2022. Some of their key findings reflect those "post-pandemic" aspects of what today's buyers value more in a house for sale.
Among the Zillow key findings:
- Very much in line with what we have seen happening in the Houston local market, chef-friendly amenities, such as steam ovens, pizza ovens, and professional-grade appliances, can increase a house's value by as much as 5.3% more than similar homes without them.
- More modern statement features such as terrazzo, and a room or part of a home where a woman or man may indulge in home-office work, hobbies, and interests without being distracted by other family members can contribute to an estimated 2.5% sale premium. Sellers recently listed these rooms as "she-sheds."
- Practical features which help houses sell faster than expected include doorbell cameras, heat pumps, and fenced backyards.
As Amanda Pendleton, Zillow's home trends expert, stated: "Post-pandemic homebuyers who had plenty of time for self-reflection now have a greater sense of what they want and need in a home."
Summary
If you are in the market for a house, you can choose between alternatives when offering to buy one: a home that meets all the newer trends or a place that can be refurbished before you move in to meet your needs. In any case, make sure the one you choose meets your budget and expectations.
At AMI Lenders, one of Houston's most reliable private commercial mortgage lenders, we study, analyze and understand real estate trends. Given our decades-long experience, we could become your financial ally when looking to purchase a house. We fund our loans and can move as fast as the law allows. Borrowers in Houston will also have difficulty finding lower rates for hard money or private loans than we offer. We want our customers to succeed and take advantage of the financial opportunities provided in real estate investments. Visit our website today and apply for a private money loan backed by real estate. En AMI Lenders hablamos español, no dudes en buscarnos.
