Since you’re looking at homes for sale, chances are that you’re doing so online. It’s interesting to note that during the period of 2009 through 2013, Google searches for real estate increased by 253%. Millennial home buyers, for example, tend to search online for condos and houses for sale more often than other age groups. Recent data shows that this is the case with 99% of Millennial home buyers. When taking all home buyers into consideration, 44% also began their search for real estate online.
Finding the right property can often be challenging. A recent survey showed that this was the case with 52% of recent home buyers. Furthermore, they indicated that finding the right property was the most difficult aspect of purchasing a home. When prospective home buyers work closely with realtors, however, this process can be be less challenging.
Housing prices obviously vary throughout the United States. The nation-wide average selling price for a home in March of 2016 was $186,000. Government census data shows that by March of 2017, the median price of a home was $321,700, and the average price was $384,400. In August, however, the median price was $300,200, and the average price was $368,100.
A school district’s quality can make a significant difference in the value of homes within a specific area. As a result, a home’s value may be affected by up to 20%. This particularly applies to homes that are located in school districts that have schools with high rankings. There are, of course, other factors that contribute to a home’s selling price, such as whether or not it has great curb appeal and other desirable features.
When prospective home buyers have an existing home they plan to sell prior to purchasing a new home, their realtor may encourage them to take care of a few minor remodels. If the house doesn’t have landscaping, or the landscaping isn’t as attractive as it could be, realtors will also recommend that home sellers make a concerted effort to enhance their house’s curb appeal.
Minor kitchen remodels, for example, can potentially bring an 82.7% return on investment. When a house only has one bathroom, homeowners that add on a second or third will usually be able to receive an 86.4% return on their investment. Enhancing curb appeal with landscaping and other additions, such as outdoor living spaces, will usually being a return on investment of 100%. It’s important to note that most realtors will encourage home sellers to address these and other projects as well as stage their homes for open houses.
When individuals and families live in the United States’ top 100 cities, it can often be less expensive to buy rather than rent a home. According to 2016 data, it can actually be 38% less expensive to buy. It’s possible that many prospective home buyers may not be aware of this.
Since realtors are aware of current listings and have access to important information about the the communities within which these homes are located, they are a welcome resource for home buyers. A real estate agent can also provide prospective buyers and sellers with other valuable resources. Even though many people may begin their search for homes online, working with a realtor can streamline this process considerably. Chances are that these buyers will be able to find just the right property in a fraction of the time.
