Things To Consider When Selling Your First Home

Home Home Buying Things To Consider When Selling Your First Home

Even in a seller’s market, having the right features can make all the difference when trying to sell your home. “Irresistible” features will naturally result in increased competition between buyers, allowing you to land a higher selling price and get your house sold much more quickly.

But which features will have the biggest impact?

The following highly desirable elements are sure to help your home be in high demand — and making needed upgrades to these areas could ultimately yield a significant return on investment.

1) Outdoor Patios

Interestingly, one of the most irresistible home features is actually found outside the house. Even in homes with relatively small yards, many homeowners enjoy having an outdoor area where they can entertain guests or simply enjoy a relaxing evening.

Better yet, such additions are among the most cost-effective renovations you can make.

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According to Extra Space Storage, “Outdoor living spaces are great ways to extend the living space of a home without having to make major indoor renovations. Eighty-five percent of home buyers want an outdoor patio, making it a highly desirable feature. In fact, adding a patio to your home or upgrading an existing patio can increase the value of your home and provide a return on investment of between 100-500 percent.”

2) Home Security System

Having a home security system is crucial and you should take into account when looking to list your first home. Many people seeking new homes will value a home security system or home security alternatives, especially in 2018.

So it might be time to look into ramping up your security system efforts so that you can list your home and sell it with ease.

If you are looking to protect your home with a home security system, Alarm Reviews has you covered.

3) Central Air Conditioning

Your air conditioning system may not be the most eye-catching part of the house, but for many buyers, the type of system you use can make a major difference in their purchasing decision.

A study from USA Today found “Nearly seven in 10 homeowners said they would be willing to pay more on central air conditioning … Central air conditioning was considered ‘very important’ by more than 60 percent of people in all age groups.”

Thanks to their ability to effectively deliver cool air throughout the house, central air conditioning is viewed as a must-have in hot or humid areas. Central air conditioning can increase your home value by as much as 10 percent — so it might be time to replace your window-mounted units.

4) Hardwood Floors

With their attractive look and minimal maintenance needs, hardwood floors are extremely appealing to potential home buyers. In fact, some studies have found that as many as 54 percent of buyers say they will pay more for a house with hardwood flooring.

Hardwood’s durability is a key factor in its appeal. With proper maintenance and occasional refinishing, hardwood can last for 50 years or more — carpet, on the other hand, typically needs to be replaced after 10 to 15 years.

These attributes make hardwood flooring especially attractive to buyers with pets or children.

5) Energy-Efficient Upgrades

While it’s true that an increasing number of home buyers are interested in reducing their impact on the environment, there’s another reason why energy-efficiency has become a home-buying buzzword: long-term savings.

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From reduced maintenance needs to lower utility costs, the potential for such future savings can often make buyers much more willing to pay extra now.

For example, windows are a major contributor to home heat loss, with the U.S. Department of Energy reporting that “windows are responsible for 25–30 percent of residential heating and cooling energy use.” Energy Star windows, LED lighting and other environmentally-friendly upgrades will make your home that much more appealing.

6) New Appliances

While a recently remodeled kitchen is highly attractive, new appliances are an absolute must if you wish to appeal to potential buyers. In fact, with new appliances, you may not even need to spend tens of thousands of dollars to remodel your kitchen!

Appliances that are 10 years old or older can be very unattractive to potential buyers. Reduced energy efficiency and the increased likelihood of maintenance and repairs means that many buyers feel they will need to buy replacement equipment in the near future.

Taking care of this upgrade yourself will remove this burden from buyers’ minds and increase your home value. According to Consumer Reports, stainless steel is the best option for cultivating an “updated” look.

7) Freshly Painted Front Door

You probably won’t see this item on many lists of “most-wanted” home features — but this simple maintenance task can make a huge difference in your ability to sell your house.

As Jaymi Naciri explains, “A buyer approaching your house will notice if your door isn’t pristine and may project the lack of pristine-ness onto the rest of the house. A fresh coat of paint is inexpensive but the impact is dramatic.”

First impressions are everything.

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You don’t want a potential buyer to form a negative perception of your home simply because your front door is scuffed up. Touching up your front door (as well as your siding and garage doors, when needed) will help you make a good impression so you can sell your home.

Giving Them What They Want

While every home buyer is unique, these features are either overtly or subconsciously desired by the vast majority of those in the housing market today.

As you make the needed changes to ensure your house provides what these buyers want, you’ll be better positioned to quickly sell your home at a favorable price.

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About the author

Brian Meiggs
Brian Meiggs
Brian Meiggs is a personal finance expert, and the founder of My Millennial Guide, a personal finance site helping you put more money in your pocket. He helps millennials follow the smart money in order to increase their earning potential and start building wealth for the the future. He regularly writes about side hustles, investing, and general personal finance topics aimed to help anyone earn more, pay off debt, and reach financial freedom. He has been quoted as a top personal finance blogger in major publications including Yahoo! Finance, NASDAQ, Discover, MSN Money and more.

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