I don’t watch that much TV, but find when I do that I gravitate towards HGTV. Apparently I really enjoy real estate because even in my down time I focus on work related shows.
I like the creativity in the design programs but am more intrigued by the behaviors displayed on House Hunters or Property Virgins. I think it has to do with the fact that we help buyers in addition to sellers. I’m interested in seeing if buyers in other parts of the country are looking for similar things to those that we’re working with in the Hartford region.
The message I see coming across in the house hunting shows again and again is “We don’t want to have to do any work.” Buyers want nice curb appeal, updated kitchens and bathrooms, no wallpaper, minimal carpeting, an open floor plan, and plenty of light. Oh, and a finished basement, large backyard, quiet neighborhood, and big closets.
For some reason there is almost never any mention of mechanical systems. You know, the unsexy things like furnaces, hot water heaters, electrical systems, roofs, windows… The components of a house that cost large amounts of money to replace if they’re not in good repair, but keep your home running happily. *sigh*
The majority of buyers that we work with tend to be okay with having some work to do in a home. They understand that wallpaper is removable and can make it a weekend project or hire someone to help them. A kitchen might be from the 1990s, but it’s clean and functional, so it’s doable. They can upgrade it somewhere down the line to make it more in tune with what they’d like. If the neighborhood, room sizes and layout work those tend to be the deciding factors.
Some of our buyers do want “perfect” though. They don’t want the headache of dealing with contractors or have time to think about what they’d want in a kitchen remodel. They just want it done. I would actually say that this is the norm these days too. Just like we see on HGTV. Other agents indicate that their clients want homes that are done. Showing feedback on listings provides hints like “the kitchen needs to be remodeled” or “there is too much wallpaper” or “the floor plan wasn’t open enough.”
I wonder whether home improvement TV created the craze for perfect, or if the TV execs have modified their programming to reflect current sentiment? Eh. I feel a bit badly for sellers these days. What ever happened to the concept of sweat equity?
I think you’re right – I suspect watching these shows tends to influence buyer expectations upwards. I base this on my own experience; I watch a lot of them and I find I tend to react more negatively now to things that one might characterize as “cosmetic”. When I go to open houses for fun I am more apt to be “shocked” at what I see at times – mostly due to the shows I bet….. Or, on a more positive note, I’m also much more appreciative of the spic and span places. Sometimes I think at higher end places, the owners would be better served, from a strictly financial point of view, to put in 10k or 20k on the cosmetics if they could. What especially surprises me is listings in hartford I have seen over 450k or 500k — and the house is actually kinda dirty, with junk laying around the garage and basement, filthy carpeting on stairs, literal holes in the siding. How hard is it to pull up carpet? Of course, these places are still sitting, and sitting, and sitting. So I can’t be the only one to have noticed.
I also think, as you note – there is the “headache” aspect of home renovating, and the unpredictable expense in older houses – pull down a wall and not sure what you’ll find…..many would find this less than appealing. On the other hand, I see much more potential now in things and what could be done due to the remodel shows they put on there – if I had the money, I’d love to totally rehab a place and then docorate it off the charts. if I didn’t have to live there while it was being done…… Maybe someday.