Home Valuation 5
There are common questions many people ask as they consider the sale of their home.
• Should I invest in any home improvements before putting the house up for sale?
• Which improvements will make a difference in the home’s selling price?
• And…will I get back what I spent, and maybe even more?
Most of the improvements that you have done or may do, that add to the appearance or major systems of your home, are assets in selling the home. How much added value they give to the sale price of your home depends on several factors unique to your home, your community, and the prevailing conditions of the housing market.
One thing we think you would be wise to keep in mind is that today’s home buyers generally are expecting more. The other thing to keep in mind is that once you put your home on the market you are in direct competition with other home seller’s who are also wanting to attract interested buyers. Given these two realities, it makes good sense to STOP and THINK about what is doable for you in terms of getting your home ready for sale.
Here are a few simple, common sense enhancements, that will give you a good competitive advantage compared to the home sellers who can not, or do not work as carefully to get their home ready. You might be surprised to know how often these things are not done.
1 – Declutter the home – throw away, or store, as much as possible so your home feels as spacious as possible.
2 – Clean & scrub – get every inch of the home as spotless and tidy as possible.
3 – Paint – properly paint the areas where it is needed. It is one of your most cost efficient improvements.
4 – Outside clean-up – this refers to both the landscaping and power washing of the exterior. Your home is immediately creating an impression on prospective home buyers. When the outside looks clean, tidy, and sharp, you have started off with the right impression, even before they open the front door. Buyers will see the inside of your home through the conscious or unconscious judgment they make upon seeing the outside of your home.
What about major improvements?
When it comes to more significant enhancements such as kitchen, bathroom, deck, or other major home improvements, that is where you should get the advice of your real estate professional.
There are times when it makes perfect sense to do a kitchen makeover. In some cases, the home will not be competitive without some improvement. There is a “trade-off” here between the effort and costs of doing vs. not doing improvements. These things depend on home seller preferences and resources, as well as the current competition on the market.
Find the “Sweet Spot” for what you can do
Here is what we’d like you to remember: there is a “sweet spot” in how much you should do in getting your home ready to compete against the other homes on the market. The Sweet Spot is a balance between what “should” be done ideally, and what you the seller “can” do and want to do. If you work with a real estate professional who is well experienced and playing at the top of their game, you will have the advice and counsel to make your own best decisions.
If you have any questions on any of this, or would like our opinion on improvements you are considering, by all means, be in touch. Let us know how we help!