Being the first to live in a property built entirely for your needs and to your expectations is an exciting idea that urges plenty of homeowners to invest in a custom-built home. However, part of that investment also means developing a home that will sell well in the future if need be. Production homebuilders design their floor plans to appeal to a wide range of buyers, whereas that’s not a concern for custom builders working with individual clients.
Worried your custom home is too custom to sell? We’ve got five tips to help make sure buyers can envision themselves living there.
What Type of Home Do I Have?
The first step is making sure your custom home is truly custom. Not a spec home, not a semi-custom home, not a new build with a predetermined floor plan that was highly customizable. A custom home is one that was built specifically to your specifications: You worked with an architect to get plans approved by city planners, the floor plan was designed specifically for you and there isn’t another home like it.
Does your home fit the bill? Good — keep reading.
How Much is My Home Worth?
For any home, not just custom homes, it’s important to accurately set your sale price. Research home sales in your community and gather tax information for the local area, or work with a real estate professional to secure a comparative market analysis. Either way, be sure you’re familiar with how other comparable homes are selling.
When you’re deciding on actual numbers, you may be inclined to list your home at a price that derives from all the countless memories you’ve had or the way the home has perfectly suited your needs. Don’t follow this urge blindly. Remember that buyers haven’t lived in your home, and there will likely be things they want to see changed. Don’t let the rose-tinted lenses of numerous holidays and peaceful mornings spent in your home push the listing price higher than is reasonable. This in particular is why it can be helpful to have the unbiased perspective of a third party.
What is on the Buyer’s Checklist?
As mentioned above, there will be things buyers want to change about your home. Have visitors consistently commented on your kitchen being too large or wondered how you have time to keep a theater, art studio, yoga room and pool clean day in and day out? Prospective buyers will likely have similar observations.
Think about the common features all homebuyers will be looking for, even if those features are overshadowed by the grander features that you’re fond of. For example, if that exceptionally large kitchen is part of an open floor plan, be sure to highlight that to potential buyers.
Walk through your home with a potential buyer’s perspective in mind and jot down notes on what aspects should be emphasized and any cosmetic changes you may need to make.
How is the Market?
The listing price of a custom home can be prohibitive for many buyers, and if have gilded walls and a miniature Hall of Mirrors in one wing, your list of potentials just got shorter. A comparative market analysis will help familiarize you with your market, but just knowing who is out there doesn’t guarantee any takers.
Because of this, it’s important to have patience. Your home might be on the market for longer than you’d like, so plan ahead to ensure you’re not trying to sell one home after you’ve been living in another for a year. And keep this is mind when you do decide to list.
Another consideration: Are the buyers you’re targeting the best targets? You may be accustomed to living minutes from a scenic beach or mountain escape year-round, but others could see your house as a contender for their new vacation home. This is another way working with a real estate agent is helpful.
Make It Theirs
Finally, in your quest to look at things from a buyer’s perspective, be sure that your staging follows the same theme. Potential buyers will want to see if they can make the home their own, so give them the opportunity to envision it as such. Display neutral, well-maintained furniture and few personal touches — enough for them to know how the room functions , but not much else.
Encouraging potential buyers to picture themselves and their families within the space will create an emotional connection, making them much more likely to purchase your home. Selling a custom home, or any home at all, is challenging but not impossible. Have other questions about the home buying or selling process? Head over to NewHomeSource and we can help.