When we meet with people across OKC who are ready to sell their home the first topic of conversation is typically: Pricing the house for sale…how much?
So let’s talk about what matters most when it comes to pricing, specifically what a buyer is willing to pay for a house and why. Frankly, when it comes to selling, very little else matters. If you don’t have a buyer, you don’t have a sale.
Many of our client have lived in their home a long time — some 30 years or more! Some had the home built, some raised their kids there, and many thought this would be the home they lived in until they died.
That being said, they took really good care of it. By good care, I mean they have the heating and air units serviced annually, they have manicured lawns and beautiful shrubbery, extermination contracts have been in place for years, and the exterior paint and roofing is in excellent condition. All the things that matter, right?
Not so much.
Not when it comes to today’s buyers anyway. Value systems change over time. What used to be a “forever” house is now disposable and people move about every 5-7 years (on average).
Therefore, the mechanicals being in good shape for the long haul is less important than, say, granite countertops or stainless steel appliances. The value that today’s home buyers place on the things in a home are different than they were years ago.
Pricing a House to Sell: What Matters Most to Home Buyers
Updates including:
carpet
tile
kitchen appliances
paint
countertops
trendy paint colors
an insurable roof
working (and warranted) mechanical systems
If they can’t find a house that is within their budget that includes these things, they need to be able to buy it at a price point that they can have the work done before moving in.
You see, elbow grease is no longer valued (of course there are some exceptions – but few).
When I bought my first house, I remember my grandfather saying, “What will you do to this house? There doesn’t seem to be any elbow grease required. When I bought my first house, the first thing we had to do was plug the holes so the mice wouldn’t get in!” he exclaimed.
Frankly, I think my Papa Clinton was proud of me for buying a house at age 21, but he wasn’t sure why I bought such a “nice” one. (By the way, it was a $49,000 house in Yukon that I sold 4 years later for $79,900).
If you’ve been in your own home for a while, but are now ready to make a change in your life, all of us at Buckelew Realty Group are ready and able to guide you through the entire process!
We’ll provide an honest assessment of its current condition and likely appeal to potential buyers and ensure that your Oklahoma City house is priced right for sale.
Oh…in case you are wondering, YES your home will sell even if all that HGTV stuff isn’t done. It is ALL a matter of pricing.
Contact us for a chat!
Learn more about what matters when pricing a home.
Nikki Buckelew
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