Sandra Rinomato is the host of Property Virgins, a reality TV show on HGTV. Rinomato is a realtor who guides first-time home buyers in Canada and the U.S. She calls these specific buyers property virgins and helps them understand what it takes when buying their first home, whether it’s a stand-alone house or a townhouse or condo.
In addition to selecting and showing homes to prospective buyers, Rinomato helps educate buyers in the real estate market in the particular neighborhood where buyers are looking. By using some of the tips from Property Virgins, sellers may be able to get a leg up on this niche market of first-time home buyers and also appeal to more seasoned home buyers as well.
Location, Location, Location
According to Rinomato, location is the number one indicator of price. Although sellers have no control over the location of their home when selling it, the location is important to all buyers. Keeping this factor in mind any time someone purchases a home is key so when it’s time to sell the home, the location will be a positive, not a negative.
Things that property virgins are looking for regarding the location can include proximity to public transportation, nightlife, restaurants, bars, and shopping.
Open Concept is Key
Knocking down a wall to create an open concept layout may be a great renovation for sellers to consider when thinking about selling their homes. In older homes, small rooms were more the norm than they are today. Sellers could consider opening two small rooms, perhaps a dining room and a living room, to create one larger room that appears larger and that provides more uninterrupted square feet in general. This open layout also provides a better entertaining space, which is important to many first-time home buyers.
Make Renovations To Sell
Kitchens and bathrooms sell homes. Many property virgins are coming straight from mom and dad’s house, which can be nicer than what they are able to afford in a first home. Spending money on renovations in the kitchen and bathrooms will gain sellers more return on their investment than in other areas of a house or condo. The investment is greater but so are the returns.
Be Prepared to Pay Some or All Closing Costs
Property virgins are often strapped for cash. Sellers who are negotiable in their bottom line may attract a solid offer. Sometimes offering to pay a portion of closing costs, which first-time buyers do not always have saved, can put sellers in good placement to close the sale.
Stay Optimistic and Keep Your House in Tip Top Shape
When selling a home in this tough real estate market, it’s important for home sellers to keep their homes looking perfect or as close as possible for showings. Staying on top of small repairs, depersonalizing the home, and cleaning before each showing and open house is key to showing a house off to property virgins as the gem it is.