You’re selling your home, but no one seems to want it. You’re in a good neighborhood, there are good schools nearby, yet everyone seems to leave in disgust shortly after looking at your home. It’s priced well, so what could it possibly be?
Chances are if any of these 5 things describe your home, potential buyers are probably thinking more about setting fire to it than actually purchasing it. Check out (then immediately fix) these five things that are turning buyers away from buying your home.
You Have Brass Doorknobs, Brass Cabinet Handles, and Brass… Everything
Here’s an update you may have missed – nothing brass has been ‘cool’ since the 90s. When potential buyers look at your home and see brass adorning every piece of hardware, it looks old and outdated. Even if you’ve updated your appliances, your countertops, and have the latest and greatest eco-friendly features built into your home, brass anywhere is still going to appear off-putting to your potential buyers. Spend a little money and replace those doorknobs, handles, and other hardware with chrome or brushed nickel.
Your Appliances Are “Retro”
This might sound obvious, but it never hurts to reiterate it a thousand times. Your circa-1970s appliances aren’t retro. They’re just old, worn out, and should have been replaced years ago. No one wants to buy your house knowing they’ll immediately have to shell out even more money to equip the place with appropriate appliances made in the last 5 years. Do the right thing and replace them before putting your home on the market.
Your House is So Hip
Yes, there is such a thing as being too hip and modern. I remember a former neighbor of mine had a sleek 1980s ‘Material Girl’ style interior. Mirrors everywhere, odd black and white geometric patterns painted on every wall, and decorations made of post-modern mannequin parts. The point of this is that trends and fads change. While this may have been the height of cool in 1988, it’s just plain odd in 2014. Keep this in mind next time you attempt to decorate anything by permanently putting a bird or ironic mustache on it. How’s this going to look in 10 years?
Your House Is Suffocating in Carpet
Is your home’s natural beauty suffocating in cheap, crappy carpet? Too much carpet, or carpet that’s made of cheap material could be sabotaging your sale. Carpet can be used appropriately, however it is not appropriate to simply cover every surface with it. Breaking up flooring surfaces helps break up rooms and areas. Plus, carpet can dirty and date quickly. Higher-quality wood, ceramic, and stone flooring has a timeless and durable quality your potential buyers will enjoy for years to come.
You’ve Let Your Yard Return to Nature
Everything returns to the land from which it came, right? Wrong! If it looks like you have a nature or wetlands preservation area outside your front door, you have a serious problem, one which potential buyers don’t want to inherit. Bust out the lawnmower and gardening shears, it’s time to become one with the soil and get to landscaping. Of course, this may not apply to those who’ve taken the time to set up legitimate natural areas in their yards. If you have, then kudos to you. Just don’t expect it to be every potential buyer’s cup of tea.
Nice newsletter. Good article. Good information. Thank you. Carol
For conventional financing, borrowers with scores at 740 or anywhere above generally receive the same loan pricing (rate and cost). That being said, the better your credit the higher your chances of receiving loan approval with high debt to income (up to 50%) or high loan to value (up to 95%) which can be a major benefit when applying for a new loan. For Jumbo financing, borrowers with credit scores above 800 are generally rewarded with both better pricing and easier guidelines. There are no situations where better credit is a negative when obtaining new financing so we should all continue to strive to reach and then stay in the 800’s.
What are the advantages of a score over 800
Thank you Mike for this information. As a residential realtor the information that you provide is crucial to a successful transaction for my clients. You are indeed a pleasure to recommend to all of my clients. You are so professional, thorough, conscientious and pleasant to work with. !!
Hi Dane! Wanted to make sure I'm clear on this. Am I right in saying that on whichever remodel is done you still take a loss rather than an increase in value - the ROI will never exceed 100% of cost?