The most common considerations in selling and buying homes are location, condition, size, and price. Proximity to major highways, employers, and good schools impact location the most.
When selling a home, cosmetic defects should be repaired if it is practical to do so. Repair serious defects or discount the price to reflect the defect. Upgrades do enhance the value of the home but it is difficult to recover the investment made in upgrades. Generally, painting is the most cost-effective improvement to any home. Take care of serious defects. These are “Fear and Doubt” items; foundation, electrical, heating and cooling, roof. Cracks, uneven floors, ceiling stains scare buyers away. Buyers cannot see through walls, floors, and ceilings and assume the worst. These impact price and sale-ability.
Buyers have a simpler view of buying considerations. Simply said “buyers want the best choice for the budget”. If a buyer looks at enough homes they know it the right one when they see it. Location and price have already been taken into consideration before showing. Size and condition are assessed when seen. Market considerations and comparable homes are analyzed after a decision has been made to make an A formal bid from the home buyer to the home seller to purchase a home….. For buyers with cash and resources, fear and doubt conditions create opportunity.
Notice: This website contains general information about legal and financial matters. The information is not advice, and should not be treated as such. You must not rely on the information on this website as an alternative to legal or financial advice from your attorney, accountant or other professional services provider. If you have any specific questions about any legal and financial matter you should consult your attorney, accountant or other professional services provider.