What do homebuyers look for in a property? If you’re looking to sell your home, knowing what a potential buyer’s top priorities are can help you move your property quickly and make it as attractive as possible to potential buyers. The following includes the most important factors for home buyers:
1. Good Schools
For those with school-age children or looking to start a family, it is imperative that they live in an area with a strong school district. Even for those buyers who don’t have children, it’s important to consider the school district if they want to be attractive to family buyers down the road.
Before investing in a property, consider looking at a site like Niche to see where the school district ranks.
2. Low Crime Rate (Safety)
A wonderful home with a bargain price may mean it is in a high-crime area. Many buyers are becoming more aware of this fact. According to the latest statistics from the DOJ, “The rate of robbery victimizations rose from 1.7 per 1,000 residents age 12 or older in 2016 to 2.3 per 1,000 in 2017. “
Most buyers, especially those with children, will be well aware of the crime statistics in an area before considering purchasing a home.
3. Proximity to Entertainment/Outdoor Activities
There is more appeal to a neighborhood when people can easily walk or reasonably drive to desirable areas, such as parks, golf courses, recreation centers, restaurants, markets, shopping outlets, etc.
It’s true that in 2019 you have little need to leave your home given the plethora of delivery options and home entertainment, but don’t discount cabin fever and human nature’s desire to socialize.
Before investing, take some time to research the local government recreation site and travel guides to see what might attract a buyer.
4. Taxes, Fees, and Dues
There are many expenses that homeowners must consider when purchasing a home. In addition to normal maintenance, there are property taxes, home insurance, and homeowner association (HOA) dues. These fees can vary. It can be a small fee paid annually for a single-family home, usually monthly fees for condos, and more. People in the market to buy a home must take all this into consideration to make sure they can afford the home.
In fact, a single-family home may cost a little more than a condo in one sense. However, when comparing the monthly fees of condos to the taxes of a single-family home, it can be more affordable.
There is also a fee that is called a reserve fund. HOA members typically pay this for long-termed maintenance and repairs, including a roof replacement, a paint job, parking lot repavement, etc.
5. The Neighbors
Who are you going to be living next to? Who must you borrow sugar from? Are they nice? Do they cut their grass? Do they throw raging parties into the night? Even though most people barely interact with their neighbors in this day and age, when you consider a purchase as big as a home, who lives next door will be of great concern.
There’s nothing wrong with, and we encourage you to do so, knocking on the doors and meeting the neighbors of a potential investment property or home you are considering. Ask them what the neighborhood is like and get a feel for what they are like before you sign the dotted line.
For more information concerning what home buyers look for and more, contact a home buying expert today. Our real estate professionals right out of the Philadelphia/NJ areas buy houses and knows about making a quick sale of properties. With us, you won’t have to worry about going through the long, traditional process of putting your house on the market and hiring a realtor. So, contact us today!