One thing that can help you as a real estate investor is to understand what homebuyers want in a house. This knowledge can help you close more deals because you'll provide your clients with what they need.
Homebuyers want to purchase a home that will fulfil their needs and desires. They want a home that is comfortable, stylish, and affordable. Understanding these details as a real estate investor can be so helpful in your career.
This blog explains what homebuyers want and what real estate investors need to do to make their property more appealing. We also have multiple blogs on seller and buyer guides. You can also get help finding an agent, whether selling or buying a home.
Keep reading to understand your buyer.
What's in the Homebuyer's Mind?
1. Location
Location is everything in real estate. Homebuyers are willing to pay a premium for a property located in a desirable area. Proximity to good schools, public transportation, and amenities are all important factors that homebuyers consider when choosing a property. In some cases, the location of a property can be more important than the property itself.
In addition, a good location also contributes to a faster sale of your property, and it also translates to a good return on investment.
2. Size
Homebuyers want a home that is the right size for their needs. They don't want a home that is too small or too large. When homebuyers are looking for a home, they will often consider the size of the home. The size of the home is among the most important factors that homebuyers consider when they are looking for a new home.
If you are investing in residential real estate, your property's size and design matters to your clients. Therefore, choose an architect that will design your home more appealingly. In addition, ensure that your contractor understands the use of your property. That will ensure they consider the size of the different rooms in the house.
3. Amenities
Homebuyers today are looking for homes that offer more than the basics. They want homes that come equipped with features and amenities that will make their lives more comfortable and convenient.
Some of the most popular amenities that homebuyers are looking for include:
Central air conditioning
If you are an investor in Kenya's coastal region, consider this amenity because every buyer would like their home to have a conditioning unit due to the hot climate.
Energy-efficient appliances
Everyone takes the chance they get to save some money. Therefore, most homebuyers like houses with energy-efficient appliances. For instance, you can consider installing solar water heaters in the bathrooms instead of electric water heaters. That will help them lower the cost of electricity in their new home.
Hardwood floors
Because most tiles are slippery, homebuyers have come to love wooden floors more. In addition, it's easier to clean, and they look more stylish.
A home office
With more people working from home these days, a home office is becoming a must-have for many homebuyers.
A backyard
Homebuyers with children or pets often want a home with a backyard so that their kids or pets can have a place to play. Therefore, consider that when constructing your property.
In addition, your property can have parking because many homebuyers usually own cars.
4. Price
Every homebuyer wants to know the cost of the new home they find. The price is important because everyone has a budget to consider. Most people usually save money for a mortgage down payment before sending an offer to the seller.
Therefore, once the buyer knows the price, they already know what they need to save before starting the home-buying process. In addition, the price will also let the buyer determine the amount they will pay for the monthly mortgage instalments.
However, the price of your home should not be too high because that can scare buyers away. Instead, follow a home pricing criterion to help you sell fast and still gain your returns.
Conclusion
After understanding the homebuyer's mind, you can invest knowing that it will be easy to sell your property later. However, you should understand the buyer's intent before building a residential house. That way, you will not have to change the structure later to accommodate new-generation homebuyers.
We can help you find reliable real estate agents who will help you sell your home faster. The process is simple and straightforward, and you can start finding an agent now.
Frequently Asked Questions
1. What do homebuyers want from real estate agents?
Homebuyers love to work with a truthful and loyal real estate agent. No one ever wishes to lose their money to the wrong people. That's why homebuyers search for agents with a clear record of successful selling. They also want an agent who will not mislead them into the wrong property due to personal gains.
2. What are the biggest selling points of houses?
Consider the location as the main point in selling a house. However, there are more factors like the home area's size and available amenities. You can also use extra points as a backyard for installing a kitchen garden and cattle rearing.
3. How can I improve my property's value?
The best way to improve your home's value is to renovate and furnish the house with current features like wood floors or tiles, ceilings, or solar energy. You can always ensure that your property is in good condition before listing it for sale.
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