The housing recovery has “transformed the mind-set of many buyers and sellers who grew accustomed to the buyers’ market we saw for years,” says Rick Davidson, CEO of Century 21. “Buyer confidence is building back up and demand is strong… sellers are now in a more favorable position.”
Eight-five percent of 365 home buyers recently surveyed by the real estate brokerage said they are willing to make compromises when buying a home in order to get a transaction complete.
Tighter inventories of for-sale homes have prompted more buyers to get less picky and to realize that they’ll face competing offers when trying to purchase a home. But this doesn’t mean that you won’t have to ensure that your home is in great condition. Work with local contactors and 24/7 Plumbing Services providers if your home needs immediate repairs before listing it for sale.
The Century 21 survey found that 42 percent of home buyers surveyed said they’ve submitted an offer on a home in the past six months but only 11 percent of their offers have been accepted.
Home shoppers are realizing they may need to compromise more to secure the house they want. For example, more than half of the buyers surveyed indicated they’d be flexible on the closing date, while 31 percent stated they’d purchase a home “as-is.” Additionally, 29 percent expressed a willingness to offer more cash than they originally planned to close on a deal. However, prospective buyers should prioritize essential factors like basement waterproofing, even in an “as-is” home. Ensuring a dry and protected basement can prevent costly repairs down the line and significantly enhance the property’s value, making it a crucial consideration in the buying process.
Home buyers also say they’re willing to budge on their wishlists. The items they’re most willing to give up: an in-ground pool, a finished basement, and an updated kitchen or walk-in closets, according to the survey. However, to maximize the value of your home, you may consider working on some home repairs and upgrades. For instance, a pool construction project can make your home more appealing to families with kids. This Texas pool company has lots of positive reviews from their previous clients. Outdoor living spaces with a paved patio installation may also be preferred by most families. Then, visit insulated patios for the best patio kits you can purchase online.
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