As a seller, you should know what buyers look for in a property. It will help you stage your property in the best possible means to appeal to the buyer.
This blog explains what real estate buyers consider before making a purchase decision. Indeed, you don't want to miss a potential buyer due to a slight investment mistake.
We give investors like you free tips on starting and managing a real estate business. In addition, you can create an account with us for free to list your property on our site.
Keep reading to know the secrets of selling a property.
6 Things that Buyers Look For in a Property
1. Location
When buyers are looking for a property, one of the most important factors they consider is the location. The location of a property can make or break a deal, and it is one of the most important factors to consider when buying a property.
One of the most important things buyers look for in a location is safety. If the area has security issues, buyers will not consider buying the property. They want to feel safe in their new home and know their family will also be safe.
Buyers also consider the available schools in the area. If the schools are not good performers, buyers will not want to move their family into the area. They want their children to get a good education and ensure they attend a school that will challenge them and helps them grow.
Buyers also consider the commute distance to their places of work. If the commute is too long, buyers will not like the area. They also consider the distance to the main highway where they can access quick transport. They want to get to work quickly and easily.
2. Size
Everyone buys a home according to their family size and what they want to do. Therefore, they can only accept a home that fulfils their needs. Furthermore, no one would like a house with small spaces.
As a result, you should build a spacious house to accommodate a wide variety of buyers. The size of the property also affects its price. The bigger the house, the more you'll sell it. If a buyer is looking for a specific size, they may be willing to pay more for it.
When marketing your properties, ensure you quote the sizes of the homes alongside the price. For instance, say whether it has one, two, or three bedrooms.
3. Age
Everyone loves new properties, but old ones can also be a good choice if you furnish them with up-to-date features. Most buyers consider buying a house that is less than three years old. At Least they will be sure to encounter zero to few hidden problems on the property.
However, that doesn't mean that it will be challenging if you like to resell your house. You should furnish and make it sellable. Ensure you repaint and repair the broken floors, boards, and ceilings. That will make the home more appealing and get a potential buyer soon enough.
4. Condition
Buyers look at the property's condition before buying it. The property's condition is necessary because buyers want to ensure they will not deal with major problems later. Therefore, it's a good idea to renovate your property and ensure it's in good condition before listing it for sale.
Furthermore, a home in lousy condition jeopardises the cost of the property. No buyer will be willing to buy a home in bad condition at a higher price. They will burgain with the property's condition as the main point. However, if you cannot furnish the houses, you can reduce some amount from the selling price, which the buyer can use to renovate the home.
5. Amenities
When considering a property, buyers often look for specific amenities that will make their life more comfortable. Therefore, when investing in real estate in Kenya, consider choosing a location that will satisfy your client's needs.
For instance, choose a good location with a low crime rate and high response from security officers in case of anything. You can consider areas near police stations as they have lower crime rates.
In addition, a place with plenty of water and electricity is the dream of everyone. So, don't leave that on your list when choosing a good investment location. A place with good schools is also a good investment area as it's one thing a buyer looks for in a property.
6. Price
As much as the property's condition, size, and location determine its prices, buyers will be willing to pay what helps them. Every buyer wants to settle in a perfect house but will not pay more than the quality deserves.
For instance, you cannot sell a one-bedroom house as a two or three-bedroom home. Buyers will look for the price quote, then assess if the price fits the house's quality. If it's too expensive, you will lose a potential buyer.
Therefore, you should learn how to pierce your property accurately, so you don't oversell or undercut.
Conclusion
If you invest intending to help your client first, you will always get leads for your other properties. The buyer's checklist mentioned above should guide you when investing in income property. They will help you get clients as quickly as possible, thriving in your property business.
Comment below on how you feel about the insights in this blog. We will be glad to hear your views and still improve to make your experience better. We usually reply to comments and follow-ups.
Happy investing!
Frequently Asked Questions
What attracts buyers to a house?
A buyer's first impression of a property starts from the price tag. The price you quote gives the buyer curiosity to know more. Then after clicking, they will also like a house with big and spacious rooms.
What makes it easy to sell a house?
A house in good condition and in a favourable location will be easier to sell. No matter the price tag, most people who understand properties will be willing to buy the house.
What increases the value of a house fastest?
The quality of a house and the developments in the area determines the value increment of a home. If you renovate your house with trending features, you'll increase its value.
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