The 90s home market has been a huge boon for homebuyers and sellers, but it also presents an array of issues that require buyers to make some tough decisions.
Whether it’s an interior that’s going to last longer, an exterior design that’s not the most practical, or even an interior design that will make you feel like you’re going to be stuck in a room for the rest of your life, there’s a big gap between what people think of as the perfect home and what’s actually available.
And it’s not just because the market has shifted so much over the past five years.
While we’re not able to fully pinpoint the exact number of new home listings each month, the number of homes sold in the US in May was up over the same period last year.
That’s an impressive achievement for a country that has historically struggled to keep up with demand.
In fact, a lot of the recent gains in home prices are actually due to new home sales, according to real estate research firm Zillow.
The number of sales rose 1.8% in May, and the number per capita home value rose 4.2% to $1,746.
This year, the year before, the total number of sold homes in the country was at its lowest point since 1999.
That meant that new home sellers had to do a lot more work in order to make ends meet compared to the past.
And as a result, homebuyer and seller experiences have improved over the years.
“I think that we are seeing a lot less buyer anxiety and a lot fewer seller anxiety as well,” Zillower CEO and co-founder Kevin Roth told Business Insider in an email.
The key to improving your home’s resale value is to understand what you can and can’t sell.
This is where a good understanding of what’s out there in the market comes in handy.
“There is no one best home,” Roth said.
“It depends on many factors like what is in the home, what it’s going for, what your style is, what type of person you are, etc. So you want to understand how it’s been built, how it has stood the test of time, what you could get for the money, etc.”
Zillows chief economist Chris Bock says the best place to start is to start looking at what’s in the local market and what might appeal to you.
“As a buyer you want what you like to see and feel, and you want the house to be a living room or a dining room or something that is inviting,” Bock said.
To do this, Bock suggests looking at the price, the location, and any extras that might help make the home more attractive.
“The bottom line is that you want it to be your home, and if you are looking for a home for $2 million you should definitely look at a house that sells for $7 million,” Bocks said.
The most important thing to consider is how many bedrooms you have and what type the room might be used for.
“In a two-bedroom home, you might be looking at maybe two bedrooms, three bedrooms, or four bedrooms,” Boke said.
You also want to consider if there are any exterior improvements you could make to the home.
“What you’re looking for is not just a house with a beautiful facade, but a house in which there are exterior improvements that could make it stand out from the crowd,” he said.
If the house looks like it’s on the move, then the price might be a little higher than it should be.
“But what you want is a house where it is just moving around,” he added.
This, of course, is where your buyer’s agent comes in.
“They can help you make your decisions based on what you see in the real estate market and the available offers,” Bocked said.
And if the house has a lot going on inside, then a lot will likely come down to price.
“If you are really looking for an extra bedroom, there might be an extra price tag on that one,” Bocker said.
While these factors may be deciding factors, Bocks also stressed that a lot depends on the quality of the exterior.
“You want to be able to look at the houses in your neighborhood and see what the home is about,” he explained.
If you want something that’s functional, stylish, or luxurious, then look into a property with an open kitchen and living room.
“A great kitchen with great space is one of the things that will be really helpful to me in choosing a house,” he advised.
“An open living room that is a little more luxurious is a great feature.”
And if you’re more of a minimalist, then consider a property that has a separate bathroom and/or an area for a large kitchen sink.
“Then you can have a separate living area