Selling an Urban Loft
Tips on How to Market and Sell Your Downtown Loft
When you think of city living…quaint boutiques, chic eateries and late nights out on the town come to mind. But when it’s time to migrate to the suburbs, not only do you have to put your party life behind you, but you have to figure out how to attract buyers to the kind of lifestyle that brought you downtown in the first place.
You’re in luck because urban living is en vogue once again. Maybe the lure of city lights and cheaper gas prices have brought suburbanites back to the city. You’ll have an easier time selling your loft if you price it right and play up those downtown attractions:
Your sales flyer should list all the attractions nearby. Whether you’re selling on your own or through a realtor, make sure that all sales information includes a list of restaurants, bars, markets and other attractions within a five mile radius. Remember, buyers are looking for a way of life as much as a place to live. They need to know that the corner coffee shop has the best cappuccinos in the city…Or that the downtown playhouse two blocks away has a rendition of Romeo And Juliet that people stand in line for hours to see.
Make your loft open and inviting. That’s why people are attracted to loft living in the first place. Accentuate the soaring ceilings and wide open spaces with fresh paint and contemporary lighting. Most lofts are converted warehouses. And when potential buyers walk inside, they expect to find a minimalist decorating style. That means get rid of clutter and any traditional furniture you have around. Think stainless steel, bright colors and simple window treatments. Your potential buyers could be young singles, middle-aged empty-nesters, or displaced suburbanites. You probably won’t find a soccer mom with her brood of six walking up two flights of stairs to see your loft. So you need to replace those cookie tins hanging on the wall with modern art, and substitute stuffy chairs with large bean bags and modern throw rugs. The art can be framed posters and you can buy cute contemporary rugs and chairs at discount stores.
Renovate the kitchen and bath. You’ve heard that improving a kitchen or bath will bring you the most return on investment. That’s especially true with a loft, because there usually isn’t a lot of privacy in those large open areas. And buyers will look at the master bath as a quiet refuge. Often the kitchen is the only real "room" in a loft, so it tends to be the place people gather most. You don’t have to spend a lot of money, just make sure the counters don’t have scratches, the appliances are gleaming and the back splash is sparkling. If you decide to invest money, state-of-the-art appliances and ceramic floors will give you the most bang for the buck. And if your loft is listed for more than $500,000 people will expect granite countertops.
Loft living isn’t for everyone, but if gas prices continue to climb and that four bedroom ranch in the suburbs continues to be out of reach, city living might make a huge comeback.
Related Suite 101 Articles:
What you need to know before you buy a condo.
Tips on purchasing that fixer-upper.
