Get Sellers Ready For “Buying Season” With Resurfacing Projects Now
Before you know it, we’re going to arrive at the month of April – which people in some of our colder climates can’t wait for! However, for homeowners considering putting their homes on the market during the peak time of year in spring and summer, it’s literally time to get their house in order. This includes starting cost-effective kitchen countertop and bathtub resurfacing projects that can yield big dividends in resale value.
For refinishers, the opportunity to tailor messaging to this audience of sellers is a big one in 2016 in particular. Why? We see increasing evidence from sources like realtor.com that this year will be primarily a seller’s market. Home prices should continue to rise while inventory stays at a fairly low level nationwide. Typically, that combination results in the kind of bidding war that benefits the seller.
In an effort to avoid these types of bidding wars, don’t be surprised if some home buyers try to do their home shopping earlier than expected. A motivated seller could capitalize on this by getting certain projects that are not major renovations out of the way now, providing them with improvements in the kitchen and/or bathroom. We know that both of these rooms can often be the most critical to a home’s value.
While the average home price nationwide is expected to rise 3% compared to last year’s pricing, some markets could be significantly higher such as 5% or even as much as 10%. When a home can increase by up to 10% depending on the market, the financial investment of countertop or bathtub refinishing appears incredibly reasonable.
What if a seller takes a “wait-and-see” attitude to what the housing market will bring in terms of ensuring they get the price they want for the home – especially since we haven’t seen a full recovery? A countertop or bathtub refinishing project still makes a great deal of sense here. The turnaround is far quicker than an extensive remodel and less expensive, enabling the homeowner to make a small improvement now that can pay off down the road once they ultimately decide to put the home on the market.
A lot of trends can shift between now and the end of the year, but by all indications, the seller should have plenty of leverage in early 2016. Approach this part of your audience now with messaging that stresses the urgency of preparing the home for the prime buying season right around the corner with refinishing projects that create a beautiful result.