New Orleans Home Selling
We get asked for a lot of New Orleans home selling advice. People are particularly interested in learning more about preparing properties for sale. But the most important consideration is to consider is not a what, it’s a who. As in, who is most likely to buy your home?
Knowing your target buyer will help you decide what are the most cost effective repairs and upgrades to make before putting your house on the market.
Is your property in a condition that would most likely appeal to an investor or a do-it-yourselfer? Then you’ll want to weigh whether or not making *any* repairs or improvements would be cost effective. There’s no sense in spending money on things that will probably be removed during renovations. Instead, limit your budget to any structural or major mechanical fixes that are necessary to get it sold (hint: that might mean not doing a single thing other than pricing it right).
Target: First Time Buyer
Is your home in a price range that appeals to mostly first time home buyers? You’ll need to be sure that all of your appliances are working, the house is structurally sound and there are no glaring maintenance issues such as peeling paint, rotted wood or cracked windows.
Target: Move Up Buyer
Do you live in a neighborhood that’s too expensive for first time buyers? Your target buyer might be someone who is selling another home in order to move up into a larger property. These home shoppers have a better idea of what they want in a home because they are already owners. That doesn’t mean you can put off repairs. Move up buyers are often the pickiest when it comes to property condition, so put your best foot forward from the beginning. And consider doing a pre-inspection before you go on the market.
Target: Second Home Buyer
Is your neighborhood a tourist attraction? Or close to all of the touristy places and things to do? Your target buyer might be someone searching for a weekend getaway or a warm place to escape winter. They are a totally different buyer than an owner occupant, because they will probably use the property as a short term or corporate rental when they aren’t in the city. Convenience is paramount to these owners since they often don’t have a sphere of influence in NOLA to call on for repairs and maintenance. That’s one of the reasons that condos are so popular with vacation home buyers and why your property needs to be turn-key and move in ready. Leaving it furnished can absolutely be a selling point.
Need more advice on selling your New Orleans home? Call us today at 504-327-5303 and one of our experienced New Orleans real estate agents will be happy to help.