In my adventures in real estate, I’ve seen a lot of baby boomers—especially on the North Shore—who have been in their home for 20, 30, or as many as 40 years. Obviously, that means they also haven’t bought a home since then, and given that the market is rarely static, everything about it has changed: what buyers are looking for in a home and how they do it, in particular.
When you do decide to sell, let’s talk about who will buy your home demographically-speaking. Probably, it’ll be someone relatively close to your children’s age—maybe between 28 and 43 years old.
For that reason, think about how your children operate and their current lifestyle. Are they working? Are they busy? Do they have children of their own? How do they communicate? It won’t take you long to realize that, yes, the market has gone through some profound changes since you last entered as a homebuyer.
Today’s buyers are extremely savvy and in-tune with current conditions. They’re more active than ever before—perusing Zillow, Trulia, and Realtor sites like mine—and communicating via social media. Because of that, they won’t be easily fooled into believing that your home is worth considerably more than your neighbor’s, and the increased sharing of information has a lot to do with that.
To get right to the point, buyers are looking at your listing’s pictures online and moving on if they don’t like what they see. In other words, your pictures must be good. But beyond that, your product must be good as well.
With that in mind, it’s important to first get a complete picture of your home’s market value. To help you get started, our team offers an automated assessment here that will produce a rough estimate of what your home is worth.
Then, get in touch with your real estate professional. I’d be more than happy to visit you and your property three to five years before you plan to put your home on the market and advise you on what preparations you’ll need to make in the meantime.
Thirdly, you’ll need to create a custom marketing strategy. It’s super simple: Go to our website and we’ll set up a strategy based on neighboring, similar properties.
Although it often goes unconsidered, you have to plan for all possibilities. No matter how skilled your agent is, none of us can predict what the market has in store. We do know that the market will pay what your home is worth, so you must be willing to adapt and understand that you might not be able to achieve the sale price you set out to achieve. Communicate with everyone who’s part of the process and be honest with your agent if your valuation is lower than expected. We’ll see what we can do to help you sell at the desired price, but you need to trust your agent and the resources available to you.
Fifth and finally, start looking now! The sooner you get your home search underway, the better. Simply send me an email to Info@SpaniakTeam.com and we can get a temporary search going. Housing for empty-nesters in the North Shore is in short supply, so let’s put in the work now to get you in the home that’s right for you.
If you have any questions or would some help getting the process started, please call or text me at 847-379-8813 or send me an email at Info@SpaniakTeam.com. I hope to hear from you soon!