Coldwell
Banker survey finds Sellers are more willing to make changes to increase buyer
appeal; Buyers prefer updated kitchens & open floor plans to trendy media
rooms
A
recent survey of 700 Coldwell Banker Real Estate professionals across North
America revealed home buyers are motivated by lifestyle needs, with growing
families ranking as top motivator on both sides of the Canadian/U.S.
border. Meanwhile, sellers are becoming
increasingly aware of the value of presenting a home with buyers appeal, and
are becoming more willing to go the extra mile as they compete for buyers’
attention.
Sellers
More Willing to De-clutter, De-personalize and Make Repairs
Of
those Coldwell Banker professionals surveyed:
- 94 percent say their sellers are getting rid of clutter and making cosmetic updates, such as fresh paint and minor repairs. This percentage was the same for both Canadian and U.S. respondents
- 60 percent of Canadian respondents agree that clients are willing to “de-personalize” the home. This percentage was much higher in the challenging U.S. market, where 76 percent agree.
- 59 percent of North American respondents say sellers are even bringing in new home decorations or furniture to help make the home more appealing.
When
marketing your home, it’s important to help buyers imagine themselves living in
the property. De-cluttering and de-personalizing is crucial to this
process. Sellers should recognize that
while demand for homes remains strong in Canada, their home is still competing
with other listings. If a home is
presented with a minimum of clutter and distracting personal items, it will
appeal to buyers and improve the chance of a sale.
Buyer
Preferences are ‘Back to the Basics’
Sellers,
take note: when it comes to selecting a home, buyers are going back to the
basics. They value new or updated
kitchens, bathrooms and open floor plans as the most important features for a
new home.
- 33 percent of agents surveyed across North America say that a new or updated kitchen is the most important feature to homebuyers.
- 14 percent say the most important feature to homebuyers is an open floor plan, while 12 percent say it is a new or updated bathroom.
- Only 1 percent of the real estate professionals surveyed say they believe that entertainment rooms or finished basements are the most important feature.
Home
Buyers Moving for Babies and Careers
The
survey also drilled down into which life events are motivating the most people
to buy homes. According to the Coldwell
Banker Real Estate professionals surveyed, growing families is currently the
biggest lifestyle driver for home buyers in both Canada and the United
States.
70 percent of real estate professionals surveyed say a new baby or
growing family is the “most common”, or a “very common” lifestyle reason that
North American buyers search for a new home.
Other
key motivators include:
- Marriage - 59 percent.
- Divorce - 48 percent.
- Retirement - 37 percent.
While
the majority of survey responses regarding buyer motivators were similar
between Canada and United States, and although job reasons was the No. 2 reason
overall across North America, there was one marked difference. Fifty-five percent of Canadian respondents cited
job reasons vs. 69 percent of respondents in the United States, where the
economy and job market have endured recent downturns.
For
most of us, while a home is probably our largest investment, the fact remains
that people move for lifestyle reasons. Regardless
of market conditions, buying a home remains an investment in our lifestyles
where the emotional and psychological benefits can hold equal value to the pure
economic investment.
I am the GUY that will make a difference!
I specialize in selling homes in the in the Okanagan Valley including Westbank, West Kelowna, Peachland with a focus on Rose Valley, Lakeview Heights, West Kelowna Estates and Shannon Lake.
Karen Guy, REALTOR®
Coldwell Banker Horizon Realty
C 250.878.3605 O 250.768.8001
http://www.connectwithkaren.com/
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