Are you selling your home? Have you had it in the market for a while without any luck? If you answered yes, there are many reasons as to why your home is not selling fast. Do you know why modern houses sell faster than old-style houses?
Luckily, with the years of real estate research, one notable thing kept coming up. Why do modern homes sell faster than other home styles? However, before we can answer, there are specific factors to consider and available right here with us.
Why Modern Houses sell Faster?
So how can you get your home to sell fast? With the help of different real estate groups, we came to the following conclusion:
Take Quality Photos
When potential buyers search for a modern family house online, the first impact is the home photos. If you can afford it, get a professional photographer to help produce your marketing materials. This means high-quality images to put your best foot forward.
You need at least six photos to sell your home fast at a better price. With good marketing, you can make a first impression on how new buyers see your home and that one of the reason that why modern houses sell faster. You want potential buyers to fall in love with your living space to dive in and buy it on a positive note.
Energy Efficiency Counts in This Day and Age
These days all the rage is about energy efficiency from the windows, fixtures to appliances you use. The best is to upgrade your features to increase the appeal creating a modern contemporary house. Install light bulbs that are energy efficient while upgrading your insulation with energy-efficient windows. Other highlights are modern home décor such as stainless steel appliances.
According to Realtor.com, stainless steel and granite are still high on the list for interior features to speed a closed deal. When it comes to selling an average home with stainless steel appliances, they sell 15% faster. If such a small difference can effect a house’s selling speed, are you still not sure why modern houses sell faster? The majority of these homes average $300,000, while ones with granite tops go for $320,000.
Have the Right Listing Price
With proper pricing, there is a misconception, as it needs to be high sometimes and lower other times. With the homeownership rate hovering near a 50-year low, no one affords to buy a small modern house. According to Realtor.com, your lower-priced residence wins most new homebuyers’ hearts. You find listings $200k to $250k sold in less than 83 days faster than any other price range.
While expensive homes priced at $2 million or $5 million take longer to sell. So do not discourage buyers with an unreasonable price. Furthermore, lowering your cost to often a buyer or agent concludes you are urgent to trade and reduce their offer price. Yet, if you have, differentiating factors from others in the neighborhood add additional costs to your price.
Buyer’s Want a Patio
87% of buyers want a patio when looking for a modern small house, according to McGrew Real Estate. In these challenging times with the virus still around people want outdoor living spaces. When marketing your home with a nice backyard, they already see themselves sitting with friends enjoying a drink. They see themselves sitting on a patio with an outdoor fire pit area and backyard wet bar.
Garage Storage Space
Another modern home accent that buyers want is garage storage space. As a would-be seller, you need to keep in mind that a modernized living space adds more dollars at a sale. With space in the garage helps keep things organized and clutter-free, especially for growing families. The area needs to be accessible and well organized. This allows new homebuyers to store their modern home furniture from the patio, tools to boxes. If you are selling your home but its taking months. Now you know why modern houses sell faster. So, you can think of building a garage as well if you have some extra space.
With exterior lighting comes displaying a perfect curb appeal to make a first impression when you sell your home. When potential buyers visit your residence for the first time, the exterior plays a crucial part, whether during the day or night.
With a well-illuminated lawn, it grabs the attention of new home buyers as they can see the place is in good shape. These include walkway lights, spotlights, to pendant lights. Furthermore, it adds to security according to Hurst Design-Build-Remodel, especially when they switch on automatically or it’s solar powered to save on the electricity bill.
Walk-In Pantry a Most-Coveted Kitchen Feature
Everyone knows how fast your kitchen becomes overcrowded, leaving no space to store essentials. Furthermore, where do you place your items when buying in bulk? With a walk-in pantry, you can keep your big things and non-perishables away from the kitchen, leaving you more space for prepping. You can have one that is 5 x 5 feet with a U-shape open shelf design, cabinets, and a countertop to keep things organized.
While this modern house feature is not a top demand, you still find first and second home buyers wanting a walk-in closet in the master bedroom. So if you still have a reach-in closet, maybe it’s time to do some revamping. Couples wish for space to share their wardrobe for their clothes and other fashionable items. However, if you have an older home with little room, this might not be possible.
You can update the closet with an organization system comprising shelving units with hanging rods. Alternatively, you can turn one of the closer rooms into one.
Eat-In Kitchen a Must Have
For second-time buyers, they must have this feature if they have kids. With space, they can enjoy breakfast, lunch, or dinner to share stories of the day. You can remove a non-load-bearing wall to add space for chairs and a table. Alternatively, if you have room, you can add a center island with bar stools as well.
Hardwood Floors for a Cleaner Look
Maintaining hardwood floors is easier and more durable compared to carpeting. If you have hardwood floors that are a couple of years old, you can replenish them to give them a spanking new look.
Modern House Style Has Them All
Whether you are in the market to buy or sell, the modern house design has all the elements mentioned and that’s why modern houses sell faster. Especially the modern farmhouse as it’s livable, according to Amanda Pendleton Zillow, a lifestyle expert. The modern architecture presents you with a casual yet rustic visual that shouts live in me.
Furthermore, it is very appealing for homebuyers with pets and kids. Beyond your farmhouse style, a mid-century modern house upgraded with contemporary features also offers you quick selling points as they have:
- Farmhouse sinks and has a faster 58-day selling rate.
- Barn doors are your golden ticket found in most modern-style houses and make your home fly off the market.
- Subway tiles in residence make it sell faster, on average 63 days compared to other styled homes.
- Exposed brick is another feature found in most modern architecture, while quartz can also make a home sell faster.
- The board and batten style on the exterior siding or the interior is seen in these homes.
- Countertops made with butcher block are widespread and found in most of the recent modern house plans.
- Even small modern homes with open shelving, stainless steel appliances, and open shelving greet you in these modern homes.
- For exterior siding or interior paneling, shiplap is made with horizontal wood planks.
- The farmhouse sinks are just as popular as its broad and deep with an apron front, while frameless showers are in high demand and found in most modern homes.
The modern-style house has other features that make it sell faster: sprinkler systems, drought-resistant landscaping, rattan, and mid-century style designs. A home with these top features all sells faster. However, including them in your listing does not mean it will make big bucks or sell automatically.
Other factors are perceiving your home’s value, but having these features does not hurt. So if you do decide to buy a modern farmhouse or mid-century modern home, it will pay off in the long run when the time comes to sell your home.
What Is the Real Estate Trends 2021
While 2020 was dreary with low mortgage rates, causing prices to boom, it created a bright spot for homeowners. The fact is that the pandemic affected all industries but, more surprisingly, the real estate market. Many people have bought homes during this time while unemployment rates and recessions linger. According to some top real estate groups, this trend is going to continue throughout 2021.
Therefore, what are the home-buying trends for 2021?
- Homes have a record-setting pace boosting home listings with 42% nationwide selling in less than two weeks. Places like San Diego found that more than 55% of homes are off listings in less than weeks, with an average of 20 days.
- For the seller, this is excellent news but very difficult for buyers as the homes are out-priced in a competitive market, causing rush decisions with buyers. However, it can slow down in 2021 because of a supply shortage. Zillow expects 6.9 million home sales.
- Another expected trend in real estate is changed budgets with higher prices. While people are buying homes, many do not stretch their budgets. The research stipulates that 63% of new homebuyers have lowered their budget of $28k due to the Covid. In contrast, 64% backed out of buying new homes. Due to low-interest rates, buyers can now buy a modern house they could not afford years ago. Home sellers can raise their prices by selling it for up to $500k and more.
- Furthermore, experts predict that the prices will increase by 5.7% in 2021.
According to Realtor.com, home prices will hit an all-time high as the buyer competition is intense. However, the inventory will make a slow comeback to give homebuyers relief. Furthermore, the housing market for 2021 will return to regular, offering buyers a better selection of home styles to choose from. Still, the prices remain high, and mortgage rates will rise.
Therefore, what is there for you to do? Should you build your home, buy a new one or sell your current modern designed home? If you are uncertain whether building one is a feasible option, check out how much it costs to create a modern home. If you are in the market to sell, why not list your home here with us, as now is the best time to get your worth of money.
Lastly, if you are in the market to buy a new home, why not check the available listings out as well.