While the ongoing coronavirus epidemic has thrown the economy into disarray and many sectors are struggling to regain their footing and adjust, one part of the population is doing very well: real estate brokers and house sellers, who are struggling to keep up with brisk demand for properties.
While it may appear paradoxical amid economic turmoil, a variety of variables have resulted in a genuine seller’s market, following a minor drop. Small and starting houses in the suburbs and smaller cities are in great demand as purchasers flee congested metro centers under social distancing directives, according to anecdotal evidence. A shortage of existing houses — housing inventory was 27 percent lower than last year — and a halt in new home building for COVID-related reasons have pushed prices higher in response to the increased demand.
Traditionally low mortgage rates and an economy that appears to be recovering, at least for the time being, are also enticing potential purchasers; those with the means will pay a premium for a house that meets their evolving demands. Many individuals have had more than enough time to take in the inadequacies of their present digs after a few months of stay-at-home orders and social distance, anxiety about the forthcoming school year, and many others working from home with no end in sight.
Pay special attention to outside areas
People love to be outside in Las Cruces and El Paso since the weather is beautiful almost all year. Because outside areas are in high demand, we advise homes for sale in Las Cruces NM sellers to make their backyard where people will want to spend time.
If you don’t have the funds to install an outside pool or completely deck it up — which we don’t suggest because you won’t be able to recoup your investment — clean it up. Get some sod or seed if your lawn is spotty. Fill up the bare rock places and remove the weeds. Adding a few plants can also help – make it seem welcoming. After all, nothing beats a little elbow grease.
Near that lovely backyard, sellers may take advantage of everything Mother Nature has to offer along the border: in Las Cruces, the panoramas of the Organ Mountains; in El Paso, the wide ranges of the Franklin Mountains and the enormous, glittering sea of lights that is the El Paso-Juarez Borderplex. Always maximize vistas and provide expansive windows to take in the scenery. In other words, people purchase views.
Flooring may provide a strong return on investment
Another area where sellers of Las Cruces homes for sale might get a significant return on their investment is flooring.
The Southwest is a tile-obsessed region. The more oversized tiles, as well as the wood appearance, are now widespread. One thing we’ve noticed is that as you get beyond $200K to $250K in pricing, the wood appearance tile isn’t as popular as it is at a lesser price point.
If you choose tile, we recommend that vendors utilize various sizes, prefer natural wood, rectangular, or big square tile. Choose wood, tile, or a luxurious carpet for the bedrooms.
Consider increasing the size of your garage to accommodate trucks
Speaking of garages, sellers of homes for sale Carlsbad NM can extend a garage to accommodate a giant truck – a staple of Southwestern life. As things are now, most vehicles must be parked in the driveway, where they are vulnerable to hail damage from storms or stealth robberies from criminals. Compared to other areas of the home, garage space is very inexpensive to construct and should not contribute much to the cost.
Prepared sellers may also consider purchasing a backup generator for their house in case of a disaster. And besides, what good is a brand-new freezer full of rotten food in the event of a power outage or other emergency?
Renovate the bathroom and kitchen
With many restaurants shuttered and the remaining ones operating at a reduced capacity, and takeaway and delivery fast losing their luster after months of confinement, many people are finding themselves spending more time in the kitchen – preferably cooking, but sometimes simply nibbling from the fridge. Sellers could browse about and consider a remodeled kitchen while looking for the ideal snack to get the most bang for their home renovation dollars.
The bathroom and kitchen receive the most attention and thought. If the houses for sale in Carlsbad NM property are out-of-date or dilapidated in these two rooms, the purchaser will estimate the cost of repairs if they decide to buy.
Please don’t overdo it for the sake of your neighborhood
The most important thing to remember when undertaking improvements to increase the value of your homes for sale in Edgewood NM is that you don’t want to overdo it for your area. If everyone else in your area has granite countertops but you, or at least half of them, that’s a fantastic idea for an improvement, but if you’re the only one who has it, you won’t get your money refunded.
What are our other top home renovation recommendations for sellers to make the most of their investment? Begin by painting!
Maintain a basic and cheerful appearance. White, beige, or highly light grey is unquestionably the best option. If you choose white or grey, we recommend using daylight light bulbs. Also, if you’re not sure what hue to go with, check your flooring and match it to that.
Buyers desire greater room and home workplaces
Home offices, greater privacy, more space, and adaptable outdoor areas are among the amenities buyers feel vital as they acclimate to spending more time at the property; aside from these, there are several more accessible, low-cost upgrades sellers can make to ensure they receive full money for their home.
In Conclusion
The trick is all in the details.
There are also small, insignificant things that can go a long way. Painting your front entrance blue or red, adding potted plants, removing any flaking paint, and replacing doorknobs and fittings can all help.
Don’t give your house an identity crisis, no matter what!
Make a point of sticking to your chosen style. You may have decided to renovate several sections of your property, but if it doesn’t flow, you won’t be able to recoup your investment. When you pick a style, such as the Mediterranean, rustic, midcentury, modern, or classic, stick to it throughout the house. When selecting a hue, keep the tone consistent throughout. This is a common blunder that real estate agents notice.
