Article: Selling Small with Big Results

zBuyer Newsletter_163_IMAGEMASTER

 

Get Big Results when you’re Selling Small

There’s a perception among many who work in or casually follow the real estate industry that bigger is always better.

It stands to reason: more square footage equals more space and a bigger home. Naturally you’re going to pay more for 10 pounds of something than you will for five pounds. But once you factor in the more complicated variables of real estate – condition of the property, age of the home, and most importantly location, location, location – square footage becomes much less of an absolute.

Talk to any agent in the Bay Area, or someone who deals in Manhattan or Brooklyn, and they’re just as likely to jump on a small space as a big one. And plenty of agents in less populated places make a good living selling smaller, more affordable homes in volume rather than seeking that single white whale to make their month or year.

So, how does a modern agent -sensitive to clients’ assumptions that bigger is better – sell a small house, or a house with a smaller-than-average room, like a kitchen or master bedroom? Here are a few pieces of advice.

Pay special attention to staging

Windermere Real Estate, out of Poulsbo, Wash., has a whole slew of ideas about making the most of small spaces. A few of our favorites:

  • “Start with the biggest, most important piece in each room (the sofa, the dining room table, the bathroom sink, etc.), then plan the rest of the space around that item.”
  • If you keep most furnishings against the walls, traffic flow will be improved, and it will make rooms feel larger.
  • A table on wheels is good for the kitchen. Use it as an island in the center of the kitchen or roll it to the side and use is as a side counter.
  • Light paint colors (especially white) will make a room look more spacious. The combination of light walls with a dark floor will magnify the effect even more. Consider painting one wall a contrasting color to create a stylish focal point.

You can read the whole article here.
Kitchens are king

SFgate.com, covering the aforementioned San Francisco Bay area, has some advice that is specific to making small kitchens look kickin’. The best piece:

Remove clutter and non-essential items from the counters. Leave the counters as empty as possible to emphasis a large prep area. Store small appliances neatly inside cabinets. Leave out a small bowl of fresh fruit, a couple bottles of gourmet cooking oils, and a few unlit candles to make the space look inviting. Arrange items in odd-numbered groupings for better composition.

Read the whole article here.
Small home, big savings

If the entire home is, er, petite, you might want to put a little extra time into writing the online (or print) description of the home. For example, accentuate the positives of a small home: Lower sale cost, easier maintenance, lower utility costs and eco-friendliness are among the selling points of less square footage.

This one is short, essential read for someone selling a small space.

From the article:

Make sure your brochure and online listings include information about the lower utility costs your house affords. Also, if your small home is on a small lot, research property taxes on larger lots so your agent can point out how much money potential buyers will save in taxes.

Good luck! And let us know if you have favorite tips for selling small spaces!