We have already covered several great tips when buying or selling real estate: read and keep a copy of any signed contracts, and have the property inspected by a professional home inspector. Today we will talk about LOCATION, LOCATION, LOCATION! The neighborhood in which a home is located is just as important as the home itself (Georgia Association of REALTORS, Inc., 2016). We will see what the Georgia Association of REALTORS recommends when deciding in which neighborhood to live, and I have also posted some tips from Dave Ramsey for sellers to follow when selling in a not-so-great neighborhood.
“Inspect the neighborhood in which the home is located. Buyers should familiarize themselves with the neighborhood in which the homes they are considering buying are located to determine if there are any objectionable conditions nearby. If buyers go far enough away from any home, they will eventually discover some neighborhood condition they wish were not there. What those conditions are and how far away they need to be from a house before they are no longer a concern is a decision that only the buyer can make. For example, a nearby grocery store may be a convenience for some buyers and a disruptive commercial use for others. Buyers can also contact local governmental planning officials to determine what changes, if any, are anticipated in a neighborhood over time. (Georgia Association of REALTORS, 2016)
Okay, so that is great for buyers to consider, but what about the seller that is trying to move out of the neighborhood? What can you do to sell the property when you no longer like the location? Dave Ramsey, noted financial wizard, in his article 27 Tips You Should Know to Get Your Home Sold Fast and for Top Dollar, has several great suggestions to help us answer these questions. First, “keep the reason(s) you are selling to yourself. By keeping this to yourself you don't provide ammunition to your prospective buyers. When asked, simply say that your housing needs have changed. Remember, the reason(s) you are selling is only for you to know (Ramsey).” Second, “appearances do matter- make them count! Appearance is so critical that it would be unwise to ignore this when selling your home. The look and "feel" of your home will generate a greater emotional response than any other factor. Prospective buyers react to what they see, hear, feel, and smell even though you may have priced your home to sell…Scrub, scour, tidy up, straighten, get rid of the clutter, declare war on dust, repair squeaks, the light switch that doesn't work, and the tiny crack in the bathroom mirror because these can be deal-killers and you'll never know what turns buyers off (Ramsey).” Don’t forget curb appeal is included in the appearances category! One last tip Ramsey mentions is “be honest and be a smart seller- disclose everything. Smart sellers are proactive in disclosing all known defects to their buyers in writing. This can reduce liability and prevent law suits later on.” Being honest about defects or eye-sore surroundings allows the buyer to be prepared ahead of seeing your property and does not come as a surprise that turns the buyer off. Even if your home is not in the best location following these tips may just make the difference in selling your property.
Ramsey, Dave, 27 Tips You Should Know to Get Your Home Sold Fast and for Top Dollar, https://www.daveramsey.com/media/pdf/realestatecenter_27_tips_fast_home_selling.pdf