Competing Against New Construction

Before listing your home for sale it’s essential to understand your competition. 

New construction is having a major impact on the housing market in many parts of Delaware. If you are planning to sell your home, you need to know your competition and it is no longer just the house next door; it’s the new construction homes in new communities springing up everywhere. 

understand competing new construction can affect your home

How does your home compare to new? 

Most homeowners aren’t aware of what is trending with home buyers. Before you list your home for sale, ask your listing agent to take you to see homes your home will compete with and discuss how your home compares. Visit the new home sales offices and see what your potential buyers are seeing. Take notice of the hot trends showing up in model home after model home. 

What can you do to make your home appeal to those buyers?

Every market is different which is why you need the local expertise of a good listing agent with a plan to market your home effectively. 

This RIS Media article makes some good suggestions and gives you an idea of what it will take to compete in the real estate market today.

The “Offers Secret” is Preparation

Let’s make your home more appealing because that is music to any seller’s ears.

  • Get the pre-inspection. When a seller pays for a pre-inspection the seller is given an inside look to anything needing attention or repair before the home is placed on the market. 
  • Do a home systems inspection and deep clean. Schedule to have your heating and air conditioning system inspected and cleaned plus have the septic system pumped. Knowing these types of tasks are recently completed and in good working order puts buyers at ease.  
  • Purchase a home warranty. Generally, a home warranty is a one-year policy providing coverage for your home while it’s on the market and after the closing. Warranties can become a deciding factor when a buyer is waffling between two homes they like. 
  • Now may be the time for a renovation. If your older home is a bit small and would appeal to a broader range of buyers with a renovation or expansion it’s a savvy move to speak with an architect to draw up some renderings. The seller would pay for the drawings which will plant seeds for buyers and what they could do with this home. Having renovation plans ready to view helps buyers see themselves living in the home with these suggested changes. It helps buyers think outside the box for what an older home can become. As an added bonus the seller could inquire about the costs for permits and have this information available for anyone visiting the home—a small, time-saving step buyers will appreciate. While gathering permit information, a seller may additionally want to collect some resource information regarding applying for a renovation loan.
  • Make a good first impression by using a professional home stager. There’s only one first impression so make your home shine with professional home staging. The home stager knows the tricks to showcase a room’s best features plus are neutral about removing the personal items to make the room appealing to buyers. 
  • Curb appeal makes them get out of their vehicle. A clean, tidy, well-groomed landscape and entrance is inviting and draws buyers in. Pay attention to how the outside of your home looks. Repair and replace any faded or peeling paint. Brighten up your entrance with potted plants and a door decoration to match the season. 

It’s rare for a home to not need some updates before it’s listed. One of the key decisions is around making renovations. After making updates some homeowners do choose to stay. But it’s wise to make plans with your future options in mind. There may be a date in the time ahead when it’s necessary and you’re ready to shift. Then the question becomes “Will we be able to age well in this home?” Remember we’re here for you to answer questions, point you towards resources, and work with you. Our experienced team understands what it takes to compete with the home competition to make your home stand out. Let’s talk soon.