Making Existing Homes Competitive with New Westside Housing

Westside properties are selling fast, especially properties that have the same advantages as new builds. I’m seeing that new, small-lot homes are selling quickly, and often more quickly than existing homes. This doesn’t mean, however, that existing home sales can’t compete. However, to do so, a seller needs to understand why buyers are snatching up new Westside housing at such high rates.

New Westside Housing Meets Checklist Requirements

So, what is it about new, small-lot properties on the Westside that attract buyer’s attention? New home builders think about what millennials want in a home since they are the largest buying block. They understand that this demographic is looking for urban living without a lot of hassle. I’ve seen the same thing as I sell homes across the Westside. Knowing what they want will help you learn what you can do to your own home to make it more attractive.

Here are a few things on their wish list:

  • Open floor plans with 1700 to 2000 square feet.
  • Wood floors
  • Outside living space
  • High-end appliances
  • Contemporary design
  • Urban access close to shopping, dining, and nightlife
  • High walkability score
  • Small yards leads to less maintenance
  • Eco-conscious features

Selling Your Existing Home

Now that you understand what new homes have to offer current buyers, there are many ways to make your home competitive with the new home market with simple upgrades. Consider adding:

  • Double-paned windows
  • Tankless water heater
  • Rainwater harvesting system
  • Updated kitchen and bath
  • Wood flooring
  • Decks, patios, rooftop entertainment
  • Easy landscaping

Since homes on the Westside are so close to thriving urban centers and have great walkability scores, if you can change up your existing home to give it a few modern splashes, you will be able to compete in the market. Give me a call, and I’ll help you evaluate your home and its potential.

© 2020 The Raskin Group. 2115 Main Street Santa Monica CA 90405 (310) 867-0173    DRE# 01912796

 

Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01991628. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale or withdrawal without notice. No statement is made as to accuracy of any description. All measurements and square footages are approximate. This is not intended to solicit property already listed. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage.

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