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Buyers must compromise. They have a list of wants and will have to give up a few of them. So, they will look at a place that is smaller or doesn't have 2 full baths, because they may settle for that one if it meet all their other requirements.
I'll bet there is not so much as a single buyer out there in the entire country that is planning on buying a house and expanding the bathrooms. Making a bathroom larger is one of the most expensive remodeling jobs possible. If buyers have that much to spend, they will just pay an additional $10,000 and buy a house with 2 full baths. Doing it that way will save them $10,000-$20,000 and it can all be financed with the mortgage.
OP, do not do a bathroom addition. Wait for a buyer who will settle for the number of baths you've got.
I'll bet there is not so much as a single buyer out there in the entire country that...
You would lose that bet.
Quote:
If buyers have that much to spend, they will just pay an additional $10,000 and buy a house with 2 full baths. Doing it that way will save them $10,000-$20,000 and it can all be financed with the mortgage.
This assumes a lot that doesn't really exist in many areas (like overbuilt New England).
Buyers must compromise. They have a list of wants and will have to give up a few of them. So, they will look at a place that is smaller or doesn't have 2 full baths, because they may settle for that one if it meet all their other requirements.
I'm not at all suggesting the OP add a bath, but on Long Island, things like just 1.5 baths or even just a one-car garage are handicaps for sellers. Maybe that's not so in other parts of the country.
From a buyer's perspective- as many others have already suggested- the buyers that have looked at the house and then complained about the lack of bathrooms either:
a) were encouraged to look at the listing by their agent, in the hopes that it met enough of their needs to suffice b) are willing to compromise / make a sacrifice in one area of their wishlist, if the rest of the house goes above and beyond their needs c) if the house is priced right and comes under their budget, there could be the possibility of adding another bathroom
When DH & I were house hunting last year, we fell into all 3 categories above, especially 'c'. That's wonderful that there is room in your house to add a second full bathroom- however I agree with other suggestions that it would be ideal if you could get the plans drawn up and a cost estimate to give to buyers. If the buyers are able to see that they're able to get a second bathroom built easily and remain within their budget, it will definitely make your house more appealing as it removes the 'guess work'.
Good luck with your sale- and it's only early days yet! The right buyer for your house will come along soon enough Just stay optimistic!
Question: How can people who are obviously illiterate have enough money to buy a house?
Answer: I have no idea.
We had our 3-bedroom, 2500 sqft house on the market. A family with 2 parents and 4 kids came to look at it. Seriously?? What a waste of everyone's time.
We're a family with 2 parents and 4 kids and we looked at, made an offer on, and purchased a 2300 sqf. home. I didn't realize we were wasting everyone's time.
We're a family with 2 parents and 4 kids and we looked at, made an offer on, and purchased a 2300 sqf. home. I didn't realize we were wasting everyone's time.
My house is a little over 2100sqft and the previous owners raised 4 children here. The house nextdoor to us is slightly smaller at about 1900sqft (according to tax records)- they also raised 4 children there. Two houses down is smaller still- and they're raising 3 children there quite comfortably.
I don't think it really has a lot to do with the square footage of a house- but how well it's laid out. You can have a 2100sqft home laid out so awfully that it feels crowded, but thankfully all of these houses in my subdivision seem to have been designed fairly well. It feels a lot bigger than 2100sqft right now- but of course I'll reassess that when baby comes in a couple of months
The OP should definitely not discount buyers just because of their family size- even though they were the family who thought it was too small, depending on how the house was laid out, it may have still worked for them otherwise.
You have no idea if that feed back is really being truthful. Maybe they hated something else about the house, but didn't want to say it. I think most people would just rather say it didn't have enough bathrooms or was too small instead of saying something that might be perceived as nasty.
OP, has your agent shown you the math for the dangers of pricing your home too high at the onset? It really is the #1 mistake sellers make with their pricing. By the time you recoup from being "that over-priced smallish home" and mark the home down again and again, you'll be below what you thought what the low end of your range was initially.
The Devil's Advocate asks did you talk to more than one agent? If so, where did the most experienced agent recommend you start? Did any agent refuse to take on your listing at any price? There are listing agents that try to be pleasers.....they give you a range, yet when the time comes, they list the home at or over their recommendation.
You've lost two weeks out of your life. But if sales are brisk in your area and your home hasn't had any nibbles, you need to fix the problem or lose more time out of your life. In our area, if a home starts out low, there will be plenty of bids to drive up the price. Your mileage will vary, but not if you are over-priced.
Anyway, we just got a full-price offer this morning. I guess it wasn't too high for someone out there. Thank you to those who provided some helpful insight....
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Just stay optimistic!
