Today I’m discussing first-time homebuyer dilemmas and how you can solve them. We’ve never seen a supply so low and demand so strong in our market, and we’ve had challenges with first-time homebuyers. One of the biggest mistakes sellers make is assuming that a first-time homebuyer will think the market is so great and will pay lots of money. If you’re thinking this way, you’re leaving money on the table, spending more time on the market than you should, and not creating an opportunity that would give you more options and a better price and terms.
If you’re a first-time homebuyer, the biggest challenge is typically having enough money for a down payment and also for home upgrades. It’s a challenge when you’d like to get into a home but don’t have the money for repairs. If you’re a seller and you can solve that problem, you’re not only going to make your money back, but your home will sell faster.
Statistics show that 64% of buyers will pay more money for a move-in-ready home. Consider making small improvements. Sometimes a big-ticket item is truly a maintenance or safety issue that needs to be repaired.
If you’re a buyer, this also goes for you. If there are items that need to be improved, just remember to pick one project a year. Don’t think you have to do everything at once. Take it one piece at a time.
We can help evaluate and solve these issues. If you need any help looking for options, advice, or answers, reach out to us. We’re here to help you.