Selling a Resale Home in a New Construction Community
Did you purchase a new construction home in the last few years only to realize it’s not the perfect fit for you? Now, you’re looking to sell, but there’s a catch – you’re competing with the builder and their tempting incentives. How can you make your home stand out in a dominated in a community dominated by new constructions and all their perks? Let’s explore some effective strategies.
Understanding the Challenge:
You’ve made the decision to sell, but now you face the competition of the builder and their enticing incentives. How do you position your resale home as an attractive alternative in the market? Let’s break it down.
Competing with Builder Incentives:
New construction homes come with their own appeal – the freshness of a home no one has lived in, the freedom to choose design options, and builder incentives like assistance with closing costs, lower interest rates, or funding towards design choices. To compete, you need to offer something equally enticing.
Preparing Your Home:
First things first, your home needs to be in prime selling condition. This includes cleaning, staging, and investing in professional photos. However, standing out goes beyond these basics.
Strategic Open Houses:
Given the constant construction in the community, open houses can be a powerful tool. Observe the traffic patterns around the model homes, note peak days and times, and plan your open houses accordingly. Use directional signs in the neighborhood and a brochure box on the for-sale post to highlight your home’s unique features.
Curb Appeal Matters:
The exterior of your home is a critical factor, especially when potential buyers are driving by to visit the builder’s model. Enhance your curb appeal with simple yet impactful additions like potted plants, a well-designed walkway, or a cozy seating area on the front porch.
Emphasizing Immediate Availability:
Your home may not be brand new, but emphasize the advantage of immediate availability. Add a rider to your sign that says, “Why wait for a home to be built when you can move in now?” This simple message can resonate with buyers looking for a quick move-in option.
Warranty Assurance and Incentives:
Even if your home is only a year or two old, highlight any remaining builder warranties and consider offering an additional one-year home warranty for anything not covered. Creative incentives can make your home more appealing.
Competitive Pricing:
One of the most crucial factors is pricing. Research the market thoroughly by analyzing new construction home prices. Your realtor can assist in running comps, calculating lot premiums, base prices, and average upgrade percentages to determine a competitive and attractive price range.
Tailoring Your Strategy:
Each housing market is unique, and your strategy should be tailored to the specific challenges of your community. Consult with your realtor to develop a creative and effective plan to make your home stand out.