With such high-interest rates pricing some buyers out of the market, any good real estate agent knows that fixer-uppers will just sit in today’s market. But it is not just homes that are clearly in despair or in need of a lot of repairs that are not selling.
According to Curbio’s 2022 Home Improvement Report, 77% of buyers today won’t even consider buying a home that isn’t move-in ready. On top of that, 67% of potential buyers surveyed said they would only buy a home with updated features or layouts. Buyers do not want to (or cannot afford to) pour more money into a home they just bought, so they want modern, move-in-ready homes instead. These buyer desires go far beyond a seller’s basic home maintenance.
Sellers don’t want to make updates
One big issue is that sellers do not want to make the home improvement updates necessary to meet these buyers’ needs. When sellers were asked why they didn’t make updates or repairs to their homes before selling, 43% claimed their house was modern and didn’t need any updates. While the sellers may believe their house is just fine, buyers often disagree.
Even if the sellers thought their home needed it, many still won’t do these home improvement projects. According to the survey, 90% of home sellers said they didn’t want to spend the time, money, and stress on home updates before their house hit the market. There are so many hurdles in the traditional home
improvement process, that most sellers would rather avoid these projects altogether than risk being inconvenienced. What they may not understand is just how much deferring these updates could cost them in time, money, and stress in the long run.
Help sellers help themselves
Every listing needs something. Even new builds will not get a perfect score at home inspections and that doesn’t even include all the added cosmetic desires from today’s buyers. For those sellers who do not want to do any major projects, simple changes like landscaping, decluttering, interior painting, or staging can go a huge way in helping the home get market-ready. Instead of watching a listing stall or continuing to drop the asking price (neither one is going to make the seller happy), agents need to get their sellers on board with at least some basic updates.
In some cases, sellers just need some education. Showing them the stats on what buyers are looking for versus just telling them buyers want updated homes can reinforce the need to make changes. Another part of getting homeowners to agree to pre-sale updates is to help them overcome the perceived hurdles standing in their way. Money is often a major hurdle since many homeowners do not have the cash on hand to make the updates required. A pre-sale home improvement service without any upfront fees can put their mind at ease. Finally, a turnkey concierge service can take the stress out of these home improvement projects by taking care of everything behind the scenes.
Curbio is this solution. With a streamlined process, no upfront fees, and a project manager for every listing, Curbio is the go-to contractor partner for hassle-free home improvements.
