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If you are considering buying an investment property in a new part of town then you likely have questions about how you can increase your chances of bringing in potential buyers. There is a lot to consider, especially if the property is in disrepair or if it has been a few years since there have been any major updates. Alyssa Strickland of Millennial-Parents.com shares these tips for how you can attract the best potential buyers. Thanks Alyssa!
Essential Repairs
In the case that your property has seen better days, it is important to look at what you should absolutely repair before putting the home on the market. You will need the house to be safe so ensure that the doors and windows are in good repair and that there are strong locks to protect the inhabitants. You should also ensure that all smoke detectors are working properly and verify that there aren’t any water leaks. A potential buyer will want to know that they do not have to make these repairs themselves once they own the house.
Modifications to Attract Buyers
While you will definitely want to make the repairs mentioned above and fix anything that is broken, you should also think about what improvements you can make to the home to bring in the most money possible. You should start by going green. Consider swapping out old appliances for more sustainable options and add low-flow showerheads and LED bulbs to help with the utility costs.
You should also put a lot of thought into the curb appeal of the home so potential buyers will have confidence that they are moving into a home of which they can be proud. Start by removing the dirty and banged-up garage door and install a new one. You should also consider adding a new coat of paint to the exterior walls or at least take a power washer to them to remove any dirt or debris. The addition of attractive landscaping normally raises the homes value more than the cost of the plantings.
Will You Manage It Yourself
If you plan to rent out the home, you will need to decide whether you plan to manage the property yourself or hire a professional property manager to lead in your stead. Since you may be new to town, it may be a good idea to hire a landlord who is from the area since they know the current demographics and they can appeal to the locals. On top of that, having a property manager is a good idea if you are working on other investment properties and you simply do not have the time necessary to dedicate to being a landlord.
Marketing Your Home
Whether you are trying to attract current residents or people relocating from other cities, you will need to put a plan together for how you hope to market your property and bring in buyers or renters. A smart choice is to create a website for your property. That is the perfect space to show high-quality images of the home and list all of the amenities that it provides.
Your website should include an eye-catching infographic that can showcase the best perks of your property or any specific details that you think a potential buyer should know. When you go this route, you can either hire a professional graphic designer or create one yourself by using an online infographic template. There are plenty of template options to choose from and you can modify them as necessary with your own specific wording, images, and background elements.
These are just a few of the methods that you can use to get potential buyers and renters interested in your property. As a realtor, I can tell you about many other tricks that you can try to attract the best offers. If you need help, get in touch with Christine at 617-999-2447.
