If buyers want new construction ...
how do you sell your "used" home.
With unit sales slowing and new construction still plentiful in the Charleston real estate market, it seems that lots of buyers want new construction. I've had a lot of inquiries from potential buyers since the first of the year and while I haven't necessarily counted the inquiries, the trend seems to lean heavily in favor of new construction.
There is certainly a large inventory of preowned homes on the market and I would bet that a number of sellers would also like to sell their "used" home and buy new. While the builders would like to sell their homes to new and move up buyers, who is going to buy their current home for sale and how does the seller compete with new construction.
First and most obvious is price and here is where it gets a little tricky. The builders are offering discounts, incentives, free upgrades, gifts with purchase, breaks on financing and anything and everything in their arsenal to sell homes, especially sitting inventory.
A new home has generally sold for a little more than a preowned home in the same neighborhood. But the preowned home has additional advantages for the buyer including painting, window treatments, fencing and more established landscaping that a new home buyer will have to buy after moving into the home. Buyers generally don't consider that when shopping for a new home, they only want the lowest possible price. So bottom line, price your house below competitive new construction.
Second, make it look pretty. If you don't think it matters, visit some new construction communities one weekend and take a look at the decorating in the model homes. They look great and buyers feel very comfortable and can visualize themselves moving in. Of course, it's a disappointment after closing to finally open the door to your new home and see all white walls and the lack of beautiful furnishings. But you have to sell your home so you must compete with the builders in attracting the buyers.
It's been said many times but get rid of the clutter. You're planning to move anyway so box it up and cart it out to a self storage place. Clothes in your closet that you haven't worn in the last year just won't be worn in the next so give them to charity and make your closets appear to be much roomier.
If one of your new years resolutions was to lose weight so you can fit into those clothes you haven't worn lately, forgetaboutit, give the clothes away and if you succeed at losing weight, buy some new ones as a reward.
Finally, really clean your house. And fix any little things that you've put off repairing. You are competing with new homes that are immaculate and likely won't have any problems or concerns for the buyer.
There is a lot of inventory on the market competing for the attention of potential buyers. Do what you need to do to have your home selected instead of sitting unloved and unwanted.