In all my 20+ years of selling real estate in Middle Tennessee, I have been the curmudgeon when it comes to being a believer that ANY house could be “Better than new.”
How can something – ANYTHING – that’s already been “used” be “Better Than New?”
Wouldn’t “Normal wear and tear” make it less good than new?
With the appliances being “aged,” won’t they wear out faster?
How ’bout that old saying that “when you buy “used,” you’re inheriting someone else’s problems?
Today, I stand before you and declare that I am now a convert.
There IS such a thing as “Better than new,” and I’m here to tell you why I’m a new believer.
Consider the current market here in Middle Tennessee (and many other markets around the country with strong economic recover under way). In the past 8 months, sales have been BOOMING and virtually ALL of the inventory of available has dwindled to nothingness.
Logic would suggest that when the inventory disappears, Home Builders and Developers would spool up quickly and fill the void with NEW inventory. Herein lies the problem. These Builders and developers are not able to match this new demand (which is increasing in intensity due to recent news of mortgage rates on the rise) for myriad reasons. Here are a few:
- The banks aren’t ready to let go of their money to builders freely enough (yet) because these banks were left holding the bag with a LOT of failed new construction projects when the economy went South in ’07/’08.
- Many builders left the business and aren’t back in it yet (or never will be)
- WHERE WILL THEY BUILD? The recovery of resale home sales also resulted in increasing values . . . and there’s not much dirt for the builders to buy at reasonable prices thereby providing them the $ margin they need to justify pulling the trigger. The builders want to be sure they’ll be able to sell what they build – Catch 22!
- MATERIALS are in short supply and are increasing in cost because the suppliers shrunk their production facilities and laid off their employees in order to survive the economic tsunami . . . spooling up that production and hiring more employees is VERY risky . . . what if this economic lift is a false Spring?
All of these factors make for uncertainty with respect to buying a new house. There are stories aplenty of Buyers contracting a new house and facing unforeseen delays in the construction.
So . . . How can a Buyer get “New Construction” without all of these potential pit-falls and road-blocks?
If the Buyer wants a house that is TURN-KEY ready with IMMEDIATE OCCUPANCY, is there ANY of that out there?
I say: “Very little of that exists in today’s market.
- Most Home Sellers these days don’t have the luxury of being able to move out at a moment’s notice because of the speed of the market. they’ve gotta find the right house to buy (often in competitive bidding situations)
- For sure, they don’t have the time (and/or money) to deal with re-conditioning the house they are selling.
- Many resale homes sport extravagent decor (staging) which (although very eye-catching) would seldom completely mesh with the new buyer’s taste . . . so the Buyer is buying knowing changes would be necessary upon moving in.
I think I have just identified a true BETTER THAN NEW strategy that won’t fit many seller’s capabilities or willingness but has a chance at being a “game changer” for those Sellers willing to give it a go.
How ’bout . . .
- Seller moves out of the house pre-listing
- Hires a contractor to thoroughly inspect the house (Do a Punch List) to find every imaginable thing wrong with it
- Contractor fixes EVERYTHING and neutralizes ALL decor completely
- Seller offers a package of allowances for the new Buyer to have some “Selections” of color choices, flooring, and fixtures to be completed by the contractor prior to closing.
In this way, the buyer has cake and gets to eat it too 🙂
Fast occupancy and the ability to select the finishes – Just as in new construction . . . and low probability of many of the after-closing kinks of new construction houses – Any structural settling will have already happened . . . defective new systems, leaks will have already been discovered and repaired.
I just listed a house for sale this way (Click this link for the details)
All the details are DONE!
Listed at a very fair price $969,900
6 Bedrooms – 6.5 Bathrooms – 6,300 SF + @ 1,700 unfinished walk-out basement space . . . Perfect yard for a pool.
Turn-key ready for Immediate Occupancy.
and Builder is poised and ready to finish it to the Buyers specifications 🙂
You couldn’t do all of this at this price and convenience with buying new, so . . .
This truly IS “Better than new.”
Connect with for more details and/or to schedule a viewing.