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Retail home buyers make up the majority of home buyers out there. Which is actually starting to show a decrease within the past three decades for first time home buyers. These are buyers looking for a house in perfect move in condition. They will buy it and live there for 10+ years or until they become effected by “empty nest syndrome”.
Retail home buyers in a market like Denver, Colorado, you probably don’t think about this too often but when selling to a family that is going to live in the property for a while, chances are they don’t have the time or money to start a new project. Unless you’re in the real estate business I’m guessing you do not read disclosures often. Okay okay, how many times are we going to hear, “my neighbor sold their house in Denver $20,000 above asking!”, but what area was the house in? More important, what condition was the house in? That was definitely a top of the line LG Duo Washer and Dryer that came with it.
Foundation issues scare a lot of real estate investors, let alone scaring a family looking for a nice place to be safe in. Nobody ever brags about the foundation but everyone knows it’s most important. If your house has cracks in the basement, garage and parts of the ceiling this will be one of the first things your buyer may not get approved for the appraisal on.
Or in real estate terminology,The Water Furnace and Heating Ventilation and Air Conditioning. This is another critical factor in a house. It’s not like it’s a matter of it being a Goodman or a Trane, it’s a matter of comfort and livability. If neither of these are working and the buyer asks them to be replaced, it would be worth your time in doing so other wise you may get 20 more buyers down the line saying the same thing. Your HVAC just may need a cleaning as well.
One of the biggest hot spots for an FHA Appraiser to find a fault in. Unless you want to be using an Outhouse which doesn’t seem most ideal in our society, (imagine what the neighbors would think), then you may want to get a sewer scope well in advance before even listing the house for sale. The average cost of a sewer inspection can range from $250-800 depending on what you need.
The roof is another one of those very crucial parts in building a house, otherwise you’d just have 4 walls and with Colorado snow we know that wouldn’t work. Make sure there are no missing or curling shingles. You could have a leak if there are. This will cause more damage than just having to replace the roof. If the roof is in good same and fairly new, making sure the gutters are clean will probably be a retail buyer’s biggest concern.
There are many other factors that may come into place when selling your home to “retail home buyers”. Additions you made the to home, non-conforming bedrooms, car port vs a garage. Everyone has their own preference for what they want in their home but everyone can agree they want full functionality in what makes a house.
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