Looking to sell your home in 2019? The real estate market is constantly changing, and while the last few years have been kind to sellers, the tide could be about to turn. With preparation, you can sell your home for a good price at any time.
But what do you need to know about selling your home in 2019? Who are the home-seekers perusing the market, what do they want and how can you deliver? Read on, and we’ll discuss these questions and more.
Get Ahead of the Game
It’s a good idea to be aware of market forecasts for 2019, both those with a wide scope and the localized ones. In general, house prices are expected to show a slight increase of around 1.7% across the country on average, as the market slows down and stabilizes due to higher interest rates. This is likely to result in more people looking to sell to a shrinking pool of buyers, making the need to stand out more important than ever.
Thoroughly research your local market before pricing and listing your property to ensure your home is desirable. It’s good to be prepared to sell and to have everything in place to ensure the transaction can go ahead without delay, as buyers attempt to avoid higher interest rates over the next few months.
Get an early valuation and ensure you have all the necessary paperwork. Deeds and insurance documents can take weeks to release, so it’s a good idea to get the ball rolling as soon as you can.
Understanding your target market is essential, and in 2019 in excess of 45% of buyers are expected to be millennials. Of course, this may not be the case in your area, so be sure to do your research. Generally speaking, urban areas, in particular, are expected to see higher levels of millennial buyers than in previous years.
This will impact how and where you promote your listing, and what you do to your home in preparation for selling it. Most millennials rely on online listing portals when house hunting, and expect high-quality listings that show them everything they need to know before they even consider making contact.
When making improvements to your home prior to sale, bear in mind that younger buyers may be more open to bolder colour schemes, but will also be more likely to want to renovate and put their own stamp on the place. With this in mind, it might be best to forgo that kitchen renovation and just ensure everything is clean and clutter-free, allowing buyers to let their imaginations run wild.
Use a Virtual Tour
If you want your listing to stand out in 2019, a virtual tour is almost essential. A younger market who have grown up using the Internet for anything from banking and working to gaming and socializing will inevitably turn to it when house hunting. A virtual tour will allow potential buyers to get a good look inside your home, and give them a better understanding of how the space works.
This allows them to be sure they’re interested in making an offer on your home before they come and see it in the flesh. As a bonus, a virtual tour can filter out those who wouldn’t know they didn’t like your home until they had spent 30 minutes walking around it, saving you time and stress by avoiding having to keep preparing the house for visits.
Become More Energy Efficient
As proof of climate change mounts up, the call to become ever more energy efficient has never been more relevant. Paired with lower utility bills, this makes energy efficient homes increasingly popular. Get rated, and when making upgrades to appliances and utilities, seek out the most energy-efficient models.
Think about how you can improve your energy efficiency with renovations. For example, replacing the insulation in the attic can drastically reduce heat loss, while switching to energy-saving sensor-driven light bulbs can slash electricity bills. This adds value to your home, as buyers see the long-term benefits of your upgrades.
Smartphone usage is spreading to almost all industries, and real estate is no different. More and more buyers use their phones to browse real estate listings throughout the day, so it’s important to ensure your listing looks amazing on a mobile.
Seek out real estate agents that can ensure good mobile access and visibility. In this way, your listing can reach a much wider, and possibly more relevant audience.
Selling your home in 2019 might seem more challenging than in previous years, but new technology and a changing market can also make it easier to reach more potential buyers. Keep ahead of the game, and use the tools at your disposal to ensure your sale runs smoothly.