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Leading Real Estate Companies of the World® and Preferred Properties

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We truly are both local and global. Our global reach in over 70 countries allows us to offer unparalleled marketing and expertise, while our strong local ties ensure that our clients receive personalized, attentive service. We blend the best of both worlds for exceptional results with a human touch.

Preferred Properties, is not just local.

Through our affiliation with Leading Real Estate Companies of the World® we are globally connected to over 550 of the world’s best brokerage firms. Last year, our invitation-only network, LeadingRE, was responsible for $353 billion in annual home sales volume among the top 500 U.S. real estate firms — more than any other network, national company, or franchise. These numbers solidify our commitment to excellence and our ability to deliver exceptional results for our clients. Let me show you how our Network compares to some of our competitors who you might be considering working with. 

We Market Your Property the World

As our global footprint shrinks, we know that buyers can come from anywhere in the world. As part of my marketing efforts, I will market your property to the highest possible number of potential buyers worldwide seamlessly through my affiliation with Leading Real Estate Companies of the World®. This relationship of mine provides me access to over 134,000 real estate professionals in over 70 countries. Through our listing portals, we expose your property to agent and their buyers.”

As a locally branded firm, we have an in-depth understanding of local market dynamics, trends, and regulations, allowing us to provide tailored advice and insights specific to your area. Additionally, we have established connections and relationships within the community, which can be invaluable when buying or selling a home. Our real estate network is comprised of the very best locally and regionally branded professionals in the United States. With a focus on local markets and a broad national/ global view, as a sales associate affiliated with LeadingRE, we can ensure the best personal attention while providing access to quality real estate connections on a larger scale. This combination allows us to offer comprehensive support tailored to your specific needs, whether you’re buying or selling a home.

Follow us online for up-to-date information

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December 2024 Asheville Real Estate Market Update
Key Statistics:
Average Sales Price: Increased by 1.8% year-over-year to $522,723 in the Asheville region.
New Listings: Up 13.0% from December 2023, signaling more options for buyers.
Closed Sales: Decreased slightly, down 4.9%.
Days on Market: Homes took 62 days on average to sell, up 47.6%.
Inventory: Active listings grew, with months of supply increasing by 25.0%.
Asheville’s real estate market continues to see price growth and expanded inventory, making it a promising time for both buyers and sellers.
Let Preferred Properties of Asheville guide you through your next move! 828-258-2953 or www.preferredprop.com
Stay in the know with the latest updates on the Western North Carolina and Asheville housing market! Whether you're buying, selling, or just curious about real estate trends, we share valuable insights, market statistics, and expert advice to help you make informed decisions.

Follow us online for up-to-date information on home prices, inventory, market conditions, and tips for navigating the unique Western North Carolina market. With our deep local expertise, we're here to keep you ahead of the curve in one of the most desirable regions in the Southeast.

Don't miss out—stay connected and informed!

#AshevilleRealEstate #MarketUpdate #PreferredPropertiesAsheville #AshevilleNC #Asheville

Facts: Historic Homes and Architecture of Asheville

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Are you visiting Asheville, NC for the holidays?
Did you know that Asheville is renowned for its historic homes that reflect a diverse architectural heritage and the city's cultural evolution? Here are some fascinating facts about Asheville's architectural history.

Diverse Architectural Styles
Asheville's historic neighborhoods feature a wide array of architectural styles, including Victorian, Arts and Crafts, Colonial Revival, Tudor Revival, and Mid-Century Modern.
The Grove Park Historic District is particularly famous for its Arts and Crafts-style homes, many of which were influenced by the work of architect Richard Sharp Smith.
Biltmore Village Connection (Currently being re-built after Helene Flooding)
Biltmore Village, developed by George W. Vanderbilt in the late 19th century, was originally built to house workers for the Biltmore Estate. Many of its homes were designed by Richard Morris Hunt, blending Tudor Revival and Arts and Crafts styles.
Thomas Wolfe's Birthplace
The Thomas Wolfe Memorial, also known as the "Old Kentucky Home," is a historic house that inspired Wolfe's famous novel, Look Homeward, Angel. This 29-room Queen Anne-style boarding house was run by Wolfe’s mother in the early 20th century.
Montford Historic District
The Montford Historic District is one of Asheville’s most famous neighborhoods, listed on the National Register of Historic Places.
It showcases homes built between the late 19th and early 20th centuries, blending Queen Anne, Colonial Revival, and Arts and Crafts styles.
Unique Construction Materials
Many homes in Asheville incorporate local materials, such as river rock and timber, which were readily available in the region. This is particularly evident in Arts and Crafts-style homes.
The Influence of the Arts and Crafts Movement
Asheville became a hub for the Arts and Crafts movement in the early 20th century, influenced by the establishment of the Biltmore Industries by Eleanor Vance and Charlotte Yale.
This movement emphasized craftsmanship and harmony with nature, which is reflected in many historic homes in the area.
Preservation Efforts
Asheville has a strong commitment to preserving its historic homes and neighborhoods. The Historic Resources Commission of Asheville and Buncombe County oversees preservation efforts and helps maintain the city’s architectural legacy.
Hidden Gems
The Smith-McDowell House, Asheville’s oldest surviving house (circa 1840), is now a museum showcasing local history and the lives of its early inhabitants.
Grove Arcade’s Ties to Residential History
Although primarily a commercial building, the Grove Arcade was originally envisioned as a mixed-use development, reflecting Asheville's early aspirations for innovative living spaces.
Storybook Elements
Some homes in Asheville resemble storybook cottages, with whimsical designs that include steeply pitched roofs, rounded doorways, and ornate woodwork.
These homes are not only architectural treasures but also offer a glimpse into Asheville's vibrant past, showcasing the lives of the people who shaped the city into what it is today. If you’re interested in exploring these homes further, there are walking tours and guides dedicated to Asheville's historic neighborhoods.
#ashevillerealestate #ashevillehistory #ashevillearchitecture #ashevilleneighborhoods







 

Why End-of-Year Real Estate Transactions Can Be a Smart Move

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Wrapping Up the Year: Why End-of-Year Real Estate Transactions Can Be a Smart Move

As the year winds down, many people turn their attention to holiday festivities, family gatherings, and upcoming resolutions. However, for savvy homebuyers and sellers, the end of the year also presents a unique opportunity in the real estate market. At Preferred Properties of Asheville, we often see a surge of activity during this season, and for good reason. Let’s explore why closing a real estate transaction at the end of the year can be an incredibly smart move.


1. Motivated Buyers and Sellers

Year-end real estate activity often involves highly motivated buyers and sellers. Homeowners looking to sell before the new year may be eager to wrap up their sale, whether for financial, tax, or relocation reasons. On the flip side, buyers who are searching this time of year are typically serious about closing quickly. This mutual motivation can create a win-win scenario for both parties.

If you’re a buyer, you may find sellers more flexible with pricing and terms. If you’re selling, the reduced competition on the market can help your property stand out to motivated buyers.


2. Tax Benefits for Buyers and Sellers

One major advantage of completing a transaction before December 31st is the potential tax benefits.

  • For Buyers: Closing on a property before year-end allows you to deduct mortgage interest, property taxes, and certain closing costs for the current tax year. These deductions can significantly reduce your taxable income and potentially lead to a larger tax refund.

  • For Sellers: If you’re looking to offset gains or losses for tax purposes, selling your home before the year ends can provide a clear financial advantage.

If you’re uncertain about how a real estate transaction might impact your taxes, we recommend consulting with a trusted financial advisor.


3. Less Competition and More Negotiation Power

Traditionally, the winter months see fewer listings and reduced market activity compared to the spring and summer seasons. While this may sound like a drawback, it can actually work to your advantage.

  • For Buyers: With fewer buyers actively shopping, there is less competition for available homes. You may also have more room to negotiate price or terms, such as closing costs or repairs.

  • For Sellers: While there may be fewer buyers, the ones who are looking are often serious and ready to move quickly, reducing the likelihood of lengthy negotiations or last-minute hurdles.


4. Favorable Mortgage Rates and Loan Processing

Historically, lenders often aim to meet their year-end quotas, which means buyers may benefit from slightly more favorable mortgage rates or faster loan processing times. Working with a reputable lender during this time of year can help streamline the process and ensure you close smoothly and on schedule.

Additionally, securing a lower interest rate now can save buyers thousands of dollars over the life of their mortgage—a strong incentive to act before the new year.


5. Relocation Timing for the New Year

Many families and professionals choose the end of the year to relocate, aligning their move with school breaks, job transfers, or new opportunities starting in January. Closing before the year ends allows for a seamless transition into a new home and a fresh start for the upcoming year.

For sellers, marketing your home to those with relocation needs can help attract motivated buyers looking to settle in quickly.


Tips for a Smooth End-of-Year Closing

If you’re considering buying or selling during this time of year, here are a few tips to ensure success:

  1. Work with Experienced Real Estate Agents: Our team at Preferred Properties of Asheville is well-versed in navigating year-end transactions. We’re here to handle the details and keep things stress-free.

  2. Be Organized: Have all necessary documents ready, from financial statements to inspection reports.

  3. Plan Ahead: Lenders, inspectors, and other professionals may have limited availability due to holidays, so schedule appointments early.

  4. Stay Flexible: Flexibility with closing dates or terms can help move the process forward efficiently.


Make the Most of the Year-End Market

While it may seem unconventional to buy or sell a home during the holidays, the year-end real estate market offers unique benefits for those who seize the opportunity. Whether you’re looking to take advantage of tax incentives, negotiate favorable terms, or start the new year in a new home, our team at Preferred Properties of Asheville is here to guide you every step of the way.

Ready to explore your options? Contact us today to learn how we can help you achieve your real estate goals before the clock strikes midnight on December 31st.

Discover Walkable Neighborhoods in Asheville, North Carolina

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Discover Walkable Neighborhoods in Asheville, North Carolina

Nestled in the Blue Ridge Mountains, Asheville, North Carolina, is a vibrant city known for its eclectic culture, thriving arts scene, and stunning natural surroundings. For those who prefer to explore by foot, Asheville offers several walkable neighborhoods that combine charm, convenience, and community. Let’s dive into some of Asheville’s most pedestrian-friendly areas.


1. Downtown Asheville

Why It’s Walkable:
Downtown Asheville is the heart of the city, boasting a dense layout of shops, galleries, restaurants, and breweries all within a few blocks. You can easily explore iconic landmarks like the Grove Arcade, Pack Square, and the Asheville Art Museum without needing a car.

What to Do:

  • Grab a cup of coffee at a local café and browse the eclectic boutiques.
  • Enjoy live music at a street performance or one of the city’s many venues.
  • Stroll through the vibrant murals and public art installations scattered throughout the area.

Housing Options:
From historic lofts to modern condos, downtown offers housing for those who crave an urban lifestyle.


2. West Asheville

Why It’s Walkable:
West Asheville centers around Haywood Road, a bustling strip lined with locally-owned businesses, vintage shops, and trendy eateries. The flat terrain and pedestrian-friendly sidewalks make it easy to navigate.

What to Do:

  • Indulge in a farm-to-table meal at one of the neighborhood's acclaimed restaurants.
  • Spend an afternoon thrifting or exploring artisan shops.
  • Join a community event at the West Asheville Library or Carrier Park.

Housing Options:
Expect charming bungalows, craftsman-style homes, and a sprinkling of newer builds.


3. Montford

Why It’s Walkable:
Known for its historic homes and leafy streets, Montford feels like stepping back in time. It’s close to downtown, and its peaceful sidewalks make it a joy to explore on foot.

What to Do:

  • Wander through Montford Park or visit the Asheville Botanical Gardens nearby.
  • Enjoy a night at the Montford Park Players, North Carolina’s longest-running Shakespeare festival.
  • Take a self-guided tour to admire the architecture of early 20th-century homes.

Housing Options:
Montford offers Victorian and Arts and Crafts-style homes, many of which have been lovingly restored.


Why Walkable Neighborhoods Matter

Living in a walkable neighborhood offers more than just convenience; it fosters a sense of community, promotes a healthier lifestyle, and reduces your environmental footprint. Asheville’s walkable neighborhoods cater to a variety of tastes, whether you’re drawn to historic charm, artistic energy, or urban buzz.

Looking to Move to Asheville?
At Preferred Properties of Asheville, we specialize in finding homes that fit your lifestyle. Whether you’re searching for a cozy cottage in Montford or a modern loft in downtown, we can help you find your perfect match.

Contact us today to start your journey toward a walkable Asheville home!

Top 10 Home Features Buyers are Looking For in 2025

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Homebuyers in 2025 are focusing on features that blend sustainability, comfort, and style.
Here are the top trends based on emerging preferences:

Energy Efficiency: Whole-home batteries and solar panels are increasingly desirable, as buyers look for sustainable solutions to reduce energy costs and maintain resilience during power outages. EV chargers are also in demand.

Climate Resilience: Homes equipped with features like flood barriers, seismic retrofitting, and water catchment systems are gaining popularity. These elements address the growing concern over climate-related disasters.

Cozy, Purposeful Spaces: Smaller, cozy rooms with specific functions, such as dens and libraries, are replacing expansive open layouts. Buyers value intimate spaces that offer warmth and functionality.

Nostalgic Design: "Grandmillennial: A design style that combines traditional decor with modern elements to create a cozy, personalized space" aesthetics, including floral patterns, vintage furniture, and sculleries (secondary kitchens), are making a comeback. Home libraries are also seeing a surge in demand.

Spa-Inspired Bathrooms: Wet rooms that combine showers and bathtubs into one seamless, waterproof space are popular for their luxurious and wellness-focused design.

Induction Cooktops: As part of the shift towards electric and sustainable home features, induction cooking technology is becoming more prevalent.

Wellness Features: Homes that promote physical and mental health, such as air purification systems or wellness-oriented layouts, are increasingly sought after.

Multi-Functional Spaces: Buyers are interested in flex spaces that can adapt to work-from-home or other lifestyle needs.

High-Tech Integration: Smart home technologies, including whole-home energy management systems, continue to attract buyers.


Drought-Resistant Landscaping: Features like turf yards and native plant gardens appeal to environmentally conscious buyers in water-scarce areas.

Understanding the Real Estate Market: A Guide to Trends and Terminology

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Understanding the Real Estate Market: A Guide to Trends and Terminology

By Preferred Properties of Asheville

The real estate market can feel overwhelming, especially if you’re new to buying or selling property. With fluctuating trends, industry jargon, and complex factors influencing home values, understanding the basics is crucial. At Preferred Properties of Asheville, we believe in empowering our clients with knowledge. Here’s a guide to help you navigate the market with confidence.


Key Real Estate Trends to Watch

1. Buyer’s Market vs. Seller’s Market

  • Buyer’s Market: There are more homes for sale than buyers. This gives buyers the advantage, as sellers may lower prices to compete.
  • Seller’s Market: There are more buyers than homes for sale. This favors sellers, often leading to higher prices and quicker sales.

2. Inventory Levels

The number of homes available for sale is a critical indicator of market conditions. Low inventory typically leads to a seller’s market, while high inventory signals a buyer’s market.

3. Interest Rates

Mortgage rates significantly impact affordability. Lower interest rates often increase buyer activity, while higher rates can cool the market.

4. Seasonal Trends

Real estate activity often fluctuates with the seasons. Spring and summer tend to be busier, while fall and winter are quieter. However, local factors in Asheville, like its popularity as a mountain getaway, can influence these trends.

5. Local vs. National Markets

National trends provide a general overview, but real estate is hyper-local. What’s happening in Asheville may differ from trends in other parts of the country.


Essential Real Estate Terminology

1. Comparable Sales (Comps)

Recent sales of similar properties in the same area, used to determine a home’s market value.

2. Days on Market (DOM)

The number of days a property has been listed for sale. A high DOM may indicate a sluggish market or an overpriced listing.

3. Equity

The difference between the market value of your home and what you owe on your mortgage.

4. Appraisal

A professional assessment of a home’s value, often required by lenders during the buying process.

5. Closing Costs

Fees paid at the end of a real estate transaction, including taxes, title insurance, and loan origination fees.

6. Escrow

A neutral third party holds funds or documents until all terms of the sale are met.

7. Pre-Approval vs. Pre-Qualification

  • Pre-Qualification: An initial estimate of how much you might be able to borrow.
  • Pre-Approval: A more formal process where a lender verifies your financial information and commits to lending a specific amount.

8. Contingency

A condition that must be met for a real estate transaction to proceed. Common contingencies include home inspections and financing approval.

9. Multiple Listing Service (MLS)

A database real estate agents use to share listings with other agents and their clients.

10. Offer vs. Counteroffer

  • Offer: A buyer’s proposal to purchase a property.
  • Counteroffer: A seller’s response, often adjusting terms or price.

Tips for Navigating the Market

1. Work with a Local Expert

Real estate markets vary widely, even within the same region. An experienced Asheville-based Preferred Properties agent can provide insights specific to our area, from popular neighborhoods to current market conditions.

2. Stay Informed

Follow local market reports, interest rate trends, and new listings to stay ahead.

3. Understand Your Goals

Whether you’re buying your first home, investing in a rental property, or selling to downsize, your strategy will depend on your specific goals.

4. Be Prepared

In a competitive market, having your financing in order and knowing your must-haves can make the difference between securing your dream home or losing out.


Asheville-Specific Market Trends

1. Strong Demand for Mountain Living

Asheville continues to attract buyers seeking a balance between urban amenities and outdoor living. The city’s proximity to the Blue Ridge Mountains makes it a popular destination for retirees, young families, and remote workers.

2. Growth in Luxury Market

There’s increasing demand for high-end homes in Asheville, particularly in neighborhoods like Biltmore Forest, The Ramble, and Reynolds Mountain. Buyers in this segment prioritize custom features, scenic views, and proximity to cultural attractions.

3. Emphasis on Green Homes

Sustainability is a growing trend in Asheville’s market. Energy-efficient features, solar panels, and environmentally friendly designs are becoming key selling points.

4. Rising Home Prices

Asheville has seen steady appreciation in home values over the past decade. Limited inventory and high demand keep prices competitive, particularly in walkable areas near downtown and West Asheville.

5. Vacation and Investment Properties

As a top travel destination, Asheville’s short-term rental market thrives. Investors frequently seek properties with Airbnb or VRBO potential, although local regulations must be carefully considered.

6. Suburban and Rural Appeal

While Asheville’s city limits remain highly desirable, nearby communities like Weaverville, Black Mountain, and Hendersonville offer more affordable options with the charm of small-town living.

Hidden Costs of Buying a Home: What You Need to Know

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Hidden Costs of Buying a Home: What You Need to Know

Buying a home is one of life’s most significant investments, and while the purchase price is a key consideration, it’s not the only cost you’ll encounter. Many first-time homebuyers are surprised by the additional expenses that come with homeownership. To help you prepare, here’s a breakdown of the hidden costs you need to budget for before you sign on the dotted line.


1. Closing Costs

Closing costs are fees and expenses paid at the final stage of a real estate transaction. These typically range from 2% to 5% of the home’s purchase price and may include:

  • Loan Origination Fees: Charged by your lender for processing the loan.
  • Title Insurance: Protects against title disputes or legal claims.
  • Appraisal and Inspection Fees: Cover the cost of assessing the home’s value and condition.
  • Attorney Fees: If required in your state, for legal review of documents.
  • Prepaid Expenses: Such as property taxes and homeowners insurance.

2. Property Taxes

Property taxes are an ongoing expense that varies based on your home’s location and assessed value. Be sure to check the annual tax rate for your area and factor it into your monthly budget. Keep in mind that taxes may increase over time as property values rise.


3. Homeowners Insurance

Lenders require homeowners insurance to protect against damage from fire, theft, or natural disasters. Premiums vary depending on the home’s value, location, and coverage level. If you live in an area prone to flooding or earthquakes, you may need additional coverage, which adds to the cost.


4. Private Mortgage Insurance (PMI)

If your down payment is less than 20% of the home’s purchase price, you’ll likely need to pay PMI. This protects the lender in case you default on the loan. PMI can add hundreds of dollars to your monthly mortgage payment.


5. Maintenance and Repairs

Owning a home means you’re responsible for maintenance and repairs. Budget for both routine tasks, like HVAC servicing and lawn care, and unexpected issues, such as a broken water heater or roof repairs. Experts recommend setting aside 1%–3% of your home’s value annually for maintenance.


6. Utilities and Services

When you move into your new home, you’ll need to cover utility costs, which may include:

  • Electricity
  • Gas
  • Water and sewage
  • Trash collection
  • Internet and cable

Larger homes or older properties may have higher utility bills, so consider these when evaluating your budget.


7. HOA Fees

If your home is in a community with a homeowners association (HOA), you’ll need to pay monthly or annual fees. These cover shared amenities like pools, gyms, and landscaping. Be sure to ask about HOA fees and rules before purchasing.


8. Moving Expenses

Moving into your new home isn’t free! Moving costs can include hiring professional movers, renting a truck, or purchasing packing supplies. Additionally, you might need to buy new furniture or appliances to suit your new space.


9. Home Customization Costs

Once you move in, you may want to make the space your own with cosmetic changes like painting, new flooring, or updated fixtures. These costs can add up quickly, especially for older homes that may require more updates.


10. Emergency Fund Contributions

As a homeowner, having an emergency fund is crucial. Unexpected expenses, like plumbing issues or storm damage, can occur at any time. Building a financial cushion will give you peace of mind.


How to Prepare for Hidden Costs

  • Do Your Research: Investigate potential costs specific to the home and location.
  • Set a Realistic Budget: Include all possible expenses in your budget, not just the mortgage.
  • Get Professional Advice: Work with a knowledgeable real estate agent and financial advisor to navigate the process.
  • Plan for the Long Term: Remember, homeownership is a marathon, not a sprint.

Final Thoughts

Being aware of these hidden costs can help you make an informed decision and avoid surprises. By budgeting for these expenses, you’ll enjoy a smoother transition into homeownership and focus on making your new house a home.

Ready to take the next step? Contact us today to start your homebuying journey!

Tips for Buying a Fixer-Upper in Asheville

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The Pros and Cons of Buying a Fixer-Upper

By Preferred Properties of Asheville

The idea of buying a fixer-upper can be exciting. It’s a chance to transform a home into your dream space while potentially saving money. However, the journey isn’t without its challenges. At Preferred Properties of Asheville, we believe in helping buyers make informed decisions. Here’s a breakdown of the pros and cons of buying a fixer-upper to help you decide if it’s the right choice for you.


The Pros of Buying a Fixer-Upper

1. Lower Purchase Price

Fixer-uppers typically have a lower price tag than move-in-ready homes. This can be especially appealing in competitive markets like Asheville, where finding affordable properties can be a challenge.

2. Customization Opportunities

With a fixer-upper, you have the freedom to create a space tailored to your taste and needs. From designing an open-concept kitchen to adding modern finishes, the possibilities are endless.

3. Potential for Increased Equity

Renovating a fixer-upper can boost its market value significantly. If done wisely, the improvements you make can lead to a higher resale price, giving you a great return on your investment.

4. Less Competition

Move-in-ready homes often attract multiple offers, driving up prices. Fixer-uppers, on the other hand, may have fewer interested buyers, giving you more negotiating power.

5. Access to Desirable Locations

Fixer-uppers can be a way to buy into sought-after neighborhoods or areas in Asheville that might otherwise be out of your budget.


The Cons of Buying a Fixer-Upper

1. Unpredictable Costs

Renovation costs can add up quickly, especially if unexpected problems like plumbing or structural issues arise. It’s crucial to have a realistic budget and include a contingency fund for surprises.

2. Time-Consuming Projects

Home renovations often take longer than anticipated. Managing a fixer-upper while balancing work and life can be stressful, particularly if you’re living in the home during renovations.

3. Financing Challenges

Securing a mortgage for a fixer-upper can be tricky. Traditional loans may not cover extensive repairs, so you might need to explore renovation loans like FHA 203(k) or Fannie Mae’s HomeStyle loan.

4. Stress and Uncertainty

Renovation projects can be overwhelming, especially if you’re unfamiliar with the process. Delays, cost overruns, and contractor issues can test your patience and resources.

5. Limited Immediate Livability

Some fixer-uppers may not be move-in ready. If major systems like heating, plumbing, or electrical aren’t functional, you might need to arrange temporary housing during renovations.


Tips for Buying a Fixer-Upper in Asheville

  1. Get a Thorough Inspection: Before purchasing, hire a trusted home inspector to identify major issues and estimate repair costs.
  2. Set a Realistic Budget: Include both renovation costs and a contingency fund for unexpected expenses.
  3. Work with Local Experts: Partner with Asheville-based contractors, designers, and real estate agents who understand the unique aspects of our local market.
  4. Focus on Location: A fixer-upper in a desirable area has more potential for long-term value.
  5. Know Your Limits: Be honest about how much time, money, and effort you’re willing to invest.

Final Thoughts

Buying a fixer-upper can be a rewarding journey for the right buyer. With careful planning and the guidance of experienced professionals, you can turn a diamond in the rough into your dream home.

At Preferred Properties of Asheville, we’re here to help you every step of the way. Whether you’re searching for a fixer-upper or a move-in-ready home, our team is committed to helping you find the perfect property. Contact us today to start your journey!

Should You Renovate Before Selling? A Cost-Benefit Analysis

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Should You Renovate Before Selling? A Cost-Benefit Analysis

By Preferred Properties of Asheville

When selling a home, many homeowners wonder whether investing in renovations will lead to a higher sale price or faster sale. While some updates can provide a strong return on investment (ROI), others might not be worth the time, effort, or expense. At Preferred Properties of Asheville, we help our clients navigate these decisions with a focus on maximizing value. Here’s a cost-benefit analysis to help you decide if renovating before selling is the right move for you.


The Benefits of Renovating Before Selling

1. Attract More Buyers

Renovated homes often have greater appeal in competitive markets like Asheville, where buyers value move-in-ready properties. Updated features can make your home stand out, leading to more showings and offers.

2. Potential for Higher Offers

Modern finishes and functional spaces can justify a higher asking price. For example, an upgraded kitchen or refreshed curb appeal can increase perceived value and encourage buyers to offer more.

3. Quicker Sale

Homes in good condition tend to sell faster. By addressing potential buyer concerns, such as outdated fixtures or visible wear and tear, you reduce the chances of prolonged negotiations or a property lingering on the market.


The Drawbacks of Renovating Before Selling

1. High Upfront Costs

Renovations can be expensive, and there’s no guarantee you’ll recoup the full amount in the sale. Large projects like kitchen remodels or roof replacements may cost more than the added value they bring.

2. Time Delays

Renovations take time, which could delay listing your home. In a fast-moving market, waiting to complete updates might mean missing out on eager buyers.

3. Risk of Over-Personalization

Not all buyers will appreciate your design choices. Bold colors or highly customized features could alienate potential buyers instead of attracting them.


Cost-Benefit Analysis: Which Renovations Make Sense?

High-ROI Renovations

These projects typically offer the best return for your investment:

  • Minor Kitchen Updates: Refresh cabinets, update hardware, and replace old appliances with energy-efficient models.
  • Bathroom Improvements: Replace outdated fixtures, add modern lighting, and regrout tile for a clean, updated look.
  • Curb Appeal Enhancements: Paint the front door, update landscaping, and power wash the exterior.
  • Fresh Paint: A coat of neutral paint can make your home feel brighter and more spacious.

Low-ROI Renovations

These projects are less likely to recoup their costs:

  • Major Remodels: Full kitchen or bathroom overhauls can be costly and time-consuming, often exceeding the added value.
  • Luxury Upgrades: Features like high-end finishes, smart home systems, or custom pools may not appeal to all buyers.
  • Extensive Personalization: Unusual layouts, bold color schemes, or niche additions may not align with buyer preferences.

Consider Your Market

In Asheville, buyer preferences can vary widely based on neighborhood and property type. For example:

  • Homes in highly desirable neighborhoods might benefit from cosmetic updates to match market expectations.
  • Properties in up-and-coming areas may attract buyers looking for affordability over perfection, making renovations less critical.

Working with a local real estate expert can help you assess what updates are most likely to pay off in your specific market.


Alternatives to Renovating

1. Price Strategically

If you can’t or don’t want to renovate, pricing your home appropriately for its current condition can still attract buyers.

2. Offer Credits

Provide a repair or renovation credit as part of the sale. This allows buyers to make updates themselves while ensuring you avoid upfront costs.

3. Focus on Staging

Professional staging can transform your home’s appearance without the cost of major renovations.


Final Thoughts

Deciding whether to renovate before selling comes down to weighing costs against potential benefits. In some cases, a few strategic updates can lead to a faster sale and higher offers. In others, it may make more sense to list your home as-is.

At Preferred Properties of Asheville, we can help you evaluate your home’s current condition, market trends, and buyer expectations to develop the best strategy for your sale. Contact us today for personalized advice on preparing your home for the Asheville market!

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