Selling Your New Construction HomeAugust 17, 2018
When you moved into your home, it was brand new! Built just for you! No one else had ever lived there prior to your family. You have enjoyed your “new construction home” for many years but now it’s time to sell and list it on the market as a “resale” home. Moving forward in a proactive and organized manner is the key to the highest value in resale.
Where to do you start when selling what was brand new to you, but will be resale to the next family? Finish up your “honey do list” to freshen up the house before listing. Consider a fresh coat of paint where needed, evaluate and address the front entrance curb appeal, including landscaping and trim, and remove unnecessary furniture, home decor, clothing for a less cluttered appearance. HVAC filters and grates should be cleaned, porches swept of all spider webs, make your home look well-maintained and almost brand new again!
In addition to a great first impression, providing a list of positive features that your family has enjoyed in the home is also a helpful from a sales perspective. Be sure to include upgrades that were included with the original build or were an additional expense when you purchased the home from the builder. Also incorporate any upgrades or updates that you have made since your purchase. Another very important item to address is all remaining home warranty information. This list offers a buyer increased confidence about your home. In turn, this can enhances the selling value when your home is listed on the resale market.
If your builder offered you a new construction, builder’s warranty covering structural items at the time of purchase, it would be helpful to have that file available to review the remaining terms of that program. Often times the remaining portion of a 10-year structural warranty is still in place. Since a home warranty is on the home, it transfers automatically to the new owner for the remaining years of the original term. If the original sale did not include a builder’s home warranty, the only remaining coverage would be the number of years remaining that the state implied warranty is in effect.
A HomePRO Systems & Appliance Home Warranty is available during ownership of your home after the builder’s warranty coverage is fulfilled and can be renewed annually. Often called a “resale home warranty”, this is a cost effective way to give coverage to all of your appliances and systems in your home. A small deductible is paid per occurrence, with the home warranty company handling the remaining repair or replacement coverage. Even though structural warranties are no long available with resale homes, systems and appliance warranties give you additional coverage during the listing period and then can be purchased for your new buyer. Listing coverage while selling your home is limited, but still provides confidence to all parties involved in the sale, in the event of a systems failure.
Many questions will come to mind when you are interviewing Real Estate Professionals to sell your new construction home. Keep in mind, the more transparent you are, the more information you share, and have available for your agent now, the stronger selling points they will be able to use to get you home on and off the market. By having your home look as clean, fresh and uncluttered as possible, sharing all of the valuable features it has to offer, and including a home warranty, you are setting yourself up for a successful transaction.