When you hear about curb appeal, you’ll probably think about the ways that low-budget renovations can boost the value of your home. By spending less on the stuff that will increase your profit, you’ll end up with more money in the bank account should you decide to sell. In short, curb appeal is essential for sellers.
However, you shouldn’t let this lull you into a false sense of security. Yes, sellers must think long and hard about the ways to get the most money from a sale, yet buyers aren’t exempt from the conversation either. The way a house or commercial building appears from the outside can start a chain reaction that may make or break your investment.
Don’t get it twisted – a piece of real estate is one of the biggest investments a person can make. With that in mind, here are the reasons why you should focus on curb appeal.
It’s A Negotiating Tactic
Studies have found that a high level of curb appeal can boost the value of a property by as much as 7%. Considering that the average home is above the $100,000 in today’s market, that’s a cool $7,000 put on top of the asking price. For buyers, this is problematic since you need to secure a property for the lowest possible price.
The good news is that curb appeal is part of the negotiation process. Just as sellers can demand more money, you can lower your bid if you don’t like what you see. After all, the lack of appeal on the exterior means you have to spend more to bring it up to standard. Therefore, you can say that you’ll offer 7% less.
Seen as a freshly mowed lawn and a tin of paint will add freshness and glossy elements, it’s not as if you’ll spend the same amount as you save. The key is to compare the house to the rest of the neighborhood for extra leverage.
Curb Appeal Plays With Your Head
It’s true what people say. If you don’t get a good feeling about a place when you roll up outside, you’re less likely to make an offer. Once you can’t immediately imagine yourself living there, it loses its shine and your enthusiasm drops.
Sadly, many buyers turn down excellent investment opportunities because of their gut. The thing is, you run the risk of the outside of the property blinkering your vision. Several homes for sale have fantastic potential and are available at an affordable price. You shouldn’t dismiss them out of hand just because of a handful of cosmetic features. Also, it’s about the inside of the house. As long the exterior is structurally sound, you can tweak it in time.
Yes, curb appeals play a significant part in the decision-making process. Still, you should ask yourself whether it’s really that big of a deal or you’re listening to the wrong opinions.
Is It Smoke And Mirrors?
It’s worth pointing out that tons of moral sellers are principled and want the best deal for both parties. Of course, it only takes one bad apple to turn things sour. Considering the numbers involved, you’ve got to be on your guard. As such, it’s vital that you contemplate a basic question: “what’s behind the mask?”
Curb appeal is a mask that covers the flaws. After all, if your head is focused on the beautiful garden and facades, you won’t spot the elements that the seller wants to gloss over. Sure, they don’t have to be terminal, like subsidence, yet failing to understand the condition of the property puts you at a disadvantage.
For example, the listing price reflects the quality. If you can prove that the standard isn’t up to scratch, you can successfully table a lower bid.
You Prefer A Blank Slate
As nice as curb appeal is, it makes your life harder as the buyer. Why? It’s because you don’t want to live in the shadow of another family. You need a house that you can transform into a home, and curb appeal makes it tough.
You’ve got to remove the fancy features and begin from the bottom rung of the ladder. Considering that it will cost you money, as well as time and energy, it won’t tick all the right boxes. Therefore, the smart move is to make an offer for a property that is clean-yet-bare. Then, you won’t have to waste resources stamping your authority on the place.
Regardless of whether you’re buying or selling, curb appeal matters a lot!