The last few years, I have been keeping busy with purchasing resale properties, fixing them up to be livable again and putting them back on the market for families to buy. One of the many things that has transpired in this foreclosure mania is we have a large amount of resale housing possibilities with trashed interiors and many that are not habitable.
For those in the new home industry, resale has never been so easy to overcome. Some of you out there don’t have resale as competition but I know others out there that tell me resale is definitely competition. Well I am here to tell you, especially now, resale is not any competition for you…so listen up.
Most of the new home pricing and resale pricing I am observing appears to be pretty close right now. So it’s easy to make a flyer up to show if someone bought a resale home, the costs it would take to improve the kitchen, the bathrooms, the roofing, the flooring, the exterior, the interior, the lighting, the electricity…the possibilities are endless.
With current energy requirements most new housing just kills resale. An effective way to see this is to take a picture of two bills. An average bill from what your clients experience as a regular bill and a copy of a bill from a resale home. Put them on your ipad and slip swipe from one to another to prove your point.
Many newer floor plans are designed for how we live today, not fifty years ago. This is an easy selling feature for resale. Today’s floor plans utilize family living areas and don’t waste space. They feel more open and airy and not so boxy and confined as older plans.
This is an easy one. Take your Iphone or Ipad out and view a few open houses. Shoot the kitchen; shoot the bathrooms, living areas and exteriors. Then take pictures of your new kitchens, bathrooms, living areas and exteriors. Don’t forget Master suites which are huge selling features for most people. Then next time you get someone who is looking at resale as well, simple show them Ipad pictures swiping back and forth between old and new. Your Dialog: “You want this kitchen (old) or this kitchen (new) It will cost you about $30,000.00 to remodel this kitchen to look like this one. And you probably will never get the open floor plan you will find with new.” It’s an easy way to drive this point home and you can do this with the kitchen, baths, master, living area!
And speaking from experience, as one who is in the middle of remodeling resale homes, the job is never ending and comes with lots of hard work and unexpected surprises that you never had in your original budget. Think of it as buying an old car and dumping a bunch of money into changing the interior, painting it to make it look new again but it’s still the bones of an old car. Or the better choice, just buy the new car and get the new engineering, energy efficiency along with the interior, safety features and the new smell! It’s just a better choice for most people.
Happy Selling this weekend!