Homeowners and home buyers have a huge resource for home repairs and upgrades right at their fingertips. Turn to HGTV's "Love It or List It" for home-related problem solving and creative inspiration. But once home buyers tune in, they create their own expectations of shiny, trendy homes at bargain prices. It's hard to not envy the home renovations and flips on favorite home improvement shows all season. Here's how entertainment impacts the real estate market, buyers’ expectations and purchasing decisions.
What Buyers Want
Since the state of the economy in 2008 and effects on the housing market, buyers have had the upper hand and follow housing trends, especially seen on television. The National Association of Realtors reports that housing trends for 2015 include:
- Open floor plans
- Smart home devices like Web-controlled security cameras, multiple master suites, fireplaces and fire pits
- Specialized storage like walk-in closets and super pantries
- Few interior walls and more windows to create bigger spaces with more light
These features will appeal to buyers in 2015, but there's another factor in real estate sales influencing the market.
The HGTV Effect
Real estate broker and author Brendon Desimone says buyers have easy access to all the details on all the homes for sale in an area. Details include how long homes have been listed and active comparisons on all available homes in the market. Marketing and selling homes go hand-in-hand — many buyers expect homes to be attractively staged and photographed.
Damon Scott, reporter for “Albuquerque Business First,” talked to realtor Jim Maddox and media professional Andrea Quijada about the “HGTV effect." How does HDTV and home renovation shows influence home buyers’ expectations when they are house hunting? They see all the newest home products on these series, but are faced with reality while looking at existing for-sale homes. Homes with older (but still working) appliances and homes without updates get lower offers because of skewed expectations, says Maddox.
2015 Home Selling Tips
Requirements like high-quality photos and mobile-optimized listings, emphasizes Zillow. Good photos and listings depend on cleaning and home staging. Sellers need to get their homes into selling shape with inside and out cleaning, recommends real estate columnist, talk show host and author Ilyce Glink. Pay attention to curb appeal by enhancing landscaping, updating exteriors and freshening interiors. Perfect home staging and meet the expectations of today's home buyers who want to replicate the expert projects seen on HGTV.
Complete home staging not in the budget? Sellers can do a lot themselves to prepare to sell their homes. Remove clutter to make rooms appear bigger and add fresh paint in trendy, neutral colors (especially in areas with outdated features). Paying attention to floors, windows and furniture can also prepare homes for sale, adds Barbara Ballinger of RealtorMag. Replace faded and shabby window treatments with modern new drapery. Keep in mind, stylish new window treatments don’t have to be expensive to give a room an updated look. If you need to mask worn carpets and faded furniture fabrics, create a fresh look with affordable steam cleaning, custom furniture covers and new area rugs.