What Luxury Means to Homebuyers in Philadelphia
The housing market in Philly has been red-hot for sellers nearly a year, and many experts expect the trend to continue for at least a few more months. Because Philly has historic charm and character - and because the city is much more affordable than Washington D.C., Boston and New York - buyers are flocking to the City of Brotherly Love and snapping up available properties fast.
However, that doesn’t mean sellers can skate by without making their homes attractive to buyers. If you want a serious offer on your luxury Philly home, here are some tricks for selling in 60 days or less.
Time It Right
No matter how perfect your home seems, it could take some time for you to find a buyer if you don’t time your sale properly. In Philadelphia, spring is the big home-selling season, and homes listed in early May always sell the fastest. Some real estate agents argue that the earlier a home hits the market, the better; because so many properties become available in spring, placing your home on the market in February or March gives it more opportunity to find a buyer or else find flaws that are turning buyers away. However, if you are quick to fix what’s wrong and put a fine polish on your property, you should be able list in April or May and close before August.
Timing is also important in terms of price. Right now, the real estate market is hot, which means prices are soaring. Still, you should talk with your real estate agent to understand how the properties in your area of Philly are performing. You might want to hold off putting your home on the market if a comparable home is about to sell for $600,000, because that sale will raise the value of your property. Then again, you should be careful to price your home fairly, or else your home could sit on the market for too long, which in itself turns buyers away.
Fix What’s Wrong
To buyers in Philly, “luxury” is essentially synonymous with “flawless.” You shouldn’t expect to win many offers when there are holes in the drywall, leaky faucets and chips in the countertops. Philly buyers are rarely after fixer-uppers, so you should spend time (and money) repairing every fault in your home. For most repairs, you should seek out professional help to avoid worsening the problem with a slapdash finish. Fortunately, you can find well-priced Philly faucet repair services and other expert fixers with quick online searches.
Make Everything Shine
Once the structure is looking as it should, you can turn your attention to putting a fine shine on your property. Buyers don’t want to step into your home; they want to be able to envision their own lives in your property, which means you need to stage the place as if they could live there. The first step you need to take is to remove personal elements, like pictures of your family and mementos. It’s also wise to use a stager to either rearrange your furniture or supply new decorative pieces to give your home more polish. Finally, you should hire a professional cleaning service to keep your home spick and span while buyers are touring the place, so they aren’t turned off by dirt or odd smells.
Add a Variety of Amenities
Finally, the amenities of luxury homes vary in Philly depending on the location. You should know better than anyone that fashions change depending on the neighborhood, so you should pay close attention to the trends and styles in your area when you are preparing to sell.
There are to main luxury areas of Philly - Fishtown and Rittenhouse Square - and they couldn’t be more different. If your property is located in Fishtown, you should focus on decorating with cool colors and maximizing space where you can. Buyers in this area like to see sustainable elements, like green choices in flooring and roofing, as well as smart technology like security cameras, speakers and thermostats.
Meanwhile, Rittenhouse Square is focused on history and ritz. While a warm color palette is all but essential, many homeowners in this area make the mistake of hiding their property’s heritage. You should emphasize the historical elements of the home while adding modern features, like an elevator, a cutting-edge kitchen, and a well-groomed garden.