North Dallas Metroplex is currently a booming market in large part due to all the recent corporations like Toyota, AT&T, and State Farm moving their headquarters into Dallas and the surrounding suburbs. There is no shortage of job opportunities in the DFW. What does that mean for the buyers and sellers?
For buyers, new home builders have started breaking ground aggressively to help supply the demand. Sellers are listing their homes, and they are selling fast – sometimes within hours of coming on the market and above their asking price due to the number of people competing for the same home.
The good news is the real estate market is starting to stabilize in some areas, so buyers are not having to compete as heavily as before. Depending on where you are looking to move and your price range, there are homes to fit your needs and desires without going months and months of trying for a home.
So what should a seller do when deciding that they want to sell?
The numbers don’t lie; often a well-staged home will see faster results and higher offers than a more cluttered home. The key is getting an early start on the process. By beginning the monumental task of clearing the clutter and doing a pre-pack now, you can reduce the stress of preparing for showings and make it easier to move when your home sells.
Research the latest design trends and stage your house to match. If you have New Homes around you, go walk through their model and any that they have ready to sell. Professional stagers recommend tailoring the design style to your target demographic. For example, even if you don’t have children yourself, if you’re in a family neighborhood, style the bedrooms for a child.
Buyers have the choice if they want to try for a fixer upper or instead purchase a move-in ready home. Many HGTV shows have popularized the idea of buying and renovating the worst house on the best block. Homes that need major remodeling; however, aren’t for everyone. Sometimes a move-in ready house is a better option. Whether you’re a first-time home buyer or a seasoned investor, it’s important to understand the pros and cons of each. Homes that require updating tend to be priced lower, however many renovations can quickly add value to your home.
When you’re the one in charge of updating your home, you can customize it however you choose. Though, the planning and work involved to fix it up can significantly delay your move-in date. No matter how well you plan, major renovations are always subject to unforeseen expenses.
With a finished home, you can start moving in as soon as you get your keys. New and renovated homes are often outfitted with the latest energy-efficient options when it comes to kitchen appliances and heating and cooling systems, saving you money over time. To recoup the costs of updating, sellers often price move-in ready homes much higher.
When calculating costs of which one is better suited for your needs, be sure to include routine maintenance and potential repairs. Whichever you decide, make sure to have everything you need in place. Get pre-approved for financing and set aside your down payment. If you have to sell a home, consider waiting until after your home sells before making any offers.