The housing market is a monstrous industry in the United States with 5,250,000 existing homes being sold in 2015 along with 510,000 newly constructed homes. Since the burst of the house market bubble, some people with excess savings to invest tried their hand at purchasing and fixing up houses to turn a profit. Today selling a house by owner is a novel practice made possible thanks to the internet, of course this accessibility means that others will be doing the same thing thus increasing the competition. With so many houses on the market, real estate investors who specialize in flipping houses need a way to sell house quick to move on to another project; here are three ways that house hunter flip to sell house quick.
Choosing an Ideal House
Location has far more to do with whether or not one can sell house quick than one may think. Up to 78% of surveyed home buyers in the National Association of Realtor’s 2013 Community Preference Survey Responded that neighborhood quality is more important than home size and that 57% would forego a home with a larger yard in favor of a shorter commute. For those looking to start flipping homes for a profit, consider the needs of a home by analyzing its environment: will the basement need to be waterproofed to prevent flooding; should added security features like a steel door be installed to make the home safer in a bad neighborhood; can new windows help to minimize energy losses? By considering these factors before buying a home, house hunters are able to get an idea of what kind of expenses a house will need to turn it into a home, thus maximizing their potential for profit.
Home Improvement Projects to Add Value and Appeal
New home buyers are looking for three things when buying a new home: value, safety, and curb appeal. Investing in new furnaces, central air, kitchen appliances, new windows, doors, and other installations can all add value to and make a home more desirable. Recent home buyers who purchased new homes said their primary motivation was to avoid costly renovations and issues with plumbing and electricity; these buyers are willing to pay more for that peace of mind. By installing advanced security systems including remote video camera access and other features, home sellers can help increase the appeal of a home for young families — other features that should be considered based on location can include steel doors and windows, storm resistant glass windows, or a completely waterproofed basement. The curb appeal of your home will be the first impression and carries a lot of weight when it comes to new home buyers. Ensuring that your yard is landscaped and outdated features like roofs, siding, and driveways are fixed up can go a long way to sell house quick.
Since nearly half of recent home buyers looked towards the internet to view properties for sale, those who are able to master the art of online real estate advertising have a greater chance to sell house fast. Many home sellers consider hiring a professional real estate photographer to balance lighting that is sure to make all those home renovation projects really stand out. Research suggests that 87% of buyers find photos to be an extremely influential element when looking at homes for sale; ensuring that your home looks its best can let the property literally speak for itself. Reaching out through other online means such as social media sites, blogs, and advertising sites can help get the word out further. Selling your home fast may not be the best idea for those looking to get the most out of their home however; it takes an average of at least six months for a home to receive a satisfactory offer that is likely below the asking price. Partnering with a realtor is another way to network and get inside information on the housing market — realtors can provide recommendations on improvement projects to make a home more desirable and increase its value.