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Thanks Lindy. Yes, it's bad and only going to get worse. With all the new stuff planned for my part of Madison, there's no good solution....pay now or pay later. I don't see the resale market improving until ALL of West Madison city is built out & that's gonna be YEARS. Our neighborhood will attract people who don't want an HOA (and we are moving partially bc we do want one). And it's JCHS zoned, and affordable by Madison standards. So maybe that will help.
Is your lot significantly bigger and better? Do you have nice window treatments? How about a fabulously landscaped yard? Those are the things that might sway someone to your home vs a new one, but not likely to get a higher price than new.
I agree with this- you want to emphasize everything you've done to your home that the buyer of new construction will have to pay for out of pocket with a new build. Go through your house and make a list of all the additions and upgrades you've put in. Aside from landscaping (and mention it's mature growth) and window treatment, did you put in a closet system, extra shelving, pull out shelving or any other built ins in the kitchen or elsewhere? What about a deck outside? I'm not saying you list everything in a listing, but you can make sure big ticket items are featured in the photos and you can make sure your realtor has the list so they can talk it up.
You want to compete not just on price but on value for price, which means all the extras that will come with your house that would cost thousands more to add to that new construction.
I agree with this- you want to emphasize everything you've done to your home that the buyer of new construction will have to pay for out of pocket with a new build. Go through your house and make a list of all the additions and upgrades you've put in. Aside from landscaping (and mention it's mature growth) and window treatment, did you put in a closet system, extra shelving, pull out shelving or any other built ins in the kitchen or elsewhere? What about a deck outside? I'm not saying you list everything in a listing, but you can make sure big ticket items are featured in the photos and you can make sure your realtor has the list so they can talk it up.
You want to compete not just on price but on value for price, which means all the extras that will come with your house that would cost thousands more to add to that new construction.
Yes, we have some nice-sized trees and flowering shrubs...."mature" by neighborhood standards. Our lot is somewhere between .34-.39 acres. The new construction lots are around .20 acres. We added nice stamped concrete landscape border around all our front yard beds...that was about $1,000. We have a leaded glass front door & Anderson storm door. 2" wood blinds in most rooms. Custom drapes with black-out lining in the west-facing bedroom (gets sun ALL afternoon and would be too hot in summer without them. We have a 72" cultured marble jetted tub in the master, as opposed to the tiny oval soaker tubs in new construction. We have a cultured marble shower with glass door, as opposed to fiberglass insert. We have the 3 car garage (as opposed to 2 car), plus a large parking court/turnaround area, which is impossible to get wtih the new construction on small lots. All our bedrooms have walk-in closets, not just the master. Master closet is huge....like 8x14 and has multiple rows of hang-up racks plus a stack of shelves in the center that sort of separates the his & her sides. This wasn't a custom system, but something DH opted for when he built, so it was an upgrade. Master bedroom is huge...15x19. Most of the new construction masters are 13x15 or 14x16. Our master bath, is overall a lot larger with a big linen closet and separate toilet closet.
Those are the things that separate our house, and the ones in the "original" section of the neighborhood, from the newer big-builder construction. That and the fact that this builder is known for building a decent house at a very affordable price, but definitely a fairly low-frills product. His houses sell very well with people who are relo'd here and might not be here for the long-term. (large military & govt job base here locally) Those buyers tend to like a newer home, a "known" commodity, and not so much into the finer points that make one house preferable over another. I don't think that will be our home-buyer. I think our house will be attractive to someone local who wants to move into our award-winning school district at an affordable price, and appreciates the "little things" our house has that the newer ones do not.
Spend some more money on landscaping and make your "curve" appeal awesome.
It is an area where builders are weak.
might also put in some rod iron accents and repaint my dinning room.
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