4 Money-Saving Non-Essentials for Buyer Clients Unnerved by Rising Mortgage Rates
As a buyer agent, the last thing you want is for your client to get cold feet due to rising mortgage rates. While you can’t control the numbers, you can offer valuable advice and recommendations to keep the deal on track. Here are four money-saving non-essentials to consider:
A Finished Basement
A finished basement is a nice-to-have, but it’s not a must-have. An unfinished basement can lower the sticker price, and it’s not crazy expensive to turn it into a DIY project. Plus, the ROI makes it one of the best home-improvement projects.
Caption: A finished basement is a nice-to-have, but it’s not a must-have.
Full Baths
While multiple full baths are a luxury, they’re not a necessity. A half bath can be converted into a full bath, and although it’s pricey, the cost comes back when the house is sold.
Caption: A half bath can be converted into a full bath.
A Large Yard
Unless your client is planning to host football games in their backyard, a huge yard isn’t imperative. A smaller lot means a lower price and lower maintenance costs. A house on a smaller lot in a pricier town will also hold its value more than one with endless acreage in a remote area.
Caption: A smaller yard means a lower price and lower maintenance costs.
Home Updates
Most buyers want a plug-and-play home, but it works in their favor when it comes to updated appliances, bathrooms, and such. Plenty of homes for sale won’t be state-of-the-art, and their prices will reflect that. Over time, new owners can make whatever changes and improvements they desire.
Caption: A home that needs updates can be a great opportunity for buyers.
By considering these money-saving non-essentials, you can help your clients stay on track and find their dream home despite rising mortgage rates.
