A recent survey of 1,000+ homeowners and future buyers confirmed the old adage, “Location, Location, Location.”
The result of the survey showed that the top priorities for buyers are: Ease of commuting by car: 38%, Access to health and safety services: 34%, Family-friendly neighborhood: 33%, Availability of retail stores: 32%, Access to cultural activities: 21%, Public transportation access: 19%, Nightlife and restaurant access: 18%, Golf-friendly area–access to golf courses: 6%.
This survey seems to indicate that how people spend time OUTSIDE their homes is more important than the inside. Spending endless hours on the road and paying for the gasoline it requires are unattractive these days.
What does your home have to offer?
It is great that you’ve upgraded your home, the granite and stainless steel are adding value. Sure, having a home in great condition and staged nicely are incredibly important to your marketability, but what about your location?
Here are tips for you to target your buyers better using your home’s location:
1. What type of home do you have? A small condo attracts a different buyer than a large home and each of these people have different locational needs. Think about what attracted you to this home’s location and play it up!
For example, is it ease of highway access or a short walk to the train stop? Do you love that you can walk to get groceries or that your neighborhood is full of kids and kid friendly activities?
2. Add photos, map and video of the area, not just the home. Many buyers coming through may not be familiar with the nearest bus station or closest grocery store. Point those out, enthusiastically!
3. Be specific. If something is only a five minute walk, say so. A 10 minute drive, around the corner, etc.
4. Price accordingly! You may have the prettiest home, in best condition, but if it is further away or less convenient for some reason, price lower than your competition.
For example, if your home is in a family friendly neighborhood where the value is the quiet streets and park, price lower if your home is on a busy corner. Don’t just compare prices based on the home, think location!
Remember, buyers are buying a lifestyle, not just a pile of bricks arranged nicely. If they don’t get what they need from the area, the home is meaningless. But if they love the area, they may make the home work even with a few imperfections.