Will That Really Add Value To My Home?
The snow has almost melted (for the second time) and you’re gearing up to sell your home. You’ve probably been completing your repairs and checking items off of your “To-Do” list during the winter season and the time is coming to actually find a buyer!
BUT WAIT – How do you know if your home is actually “market ready?” Have you done all you can to get top dollar for your greatest asset? Should you touch up paint or replace a malfunctioning appliance?
It can be difficult to prioritize repairs, especially when you’re in a time crunch or when money is tight.
Below is a list of “MUST-DO’s” as you prepare to list your home for sale
1. Park outside your home and assess its curb appeal as though you are a prospective buyer.
What is your first impression? If you were a buyer, what would you notice first or possibly be disappointed in? Do you like what you see? Is there something you can do that would improve your curb appeal quickly? Possibly painting the front door, replacing lightbulbs, cleaning out the rain gutters, mowing the lawn, adding some flowers to the flower bed, pulling weeds, sweeping the porch and walkway, etc. You may be surprised at how profound of an impact simple fixes and repairs can have on the way your house appeals to interested buyers.
2. Walk through your home and write down a list of all possible repairs in every area of your house.
This may seem daunting, especially if your home needs some TLC (tender loving care) but it will give you an idea of what a prospective buyer might be assessing as they compare the work your home might require of them as compared to other similar homes for sale in your price range. Then, prioritize your list based on your needs; this could be on importance of the repair, the cost of the repair, or the ease with which you can complete the repair. You might not be able to complete everything on your list but the better condition your home is in, the better chance you have of getting an offer close to your asking price.
3. De-clutter every room in the house!
People may feel like your home isn’t their style or seems like it needs more work than it actually does based solely on the amount of “stuff” you have packed in there. Simplify. Remove personal photos from your walls, take out half of your kids’ toys and pack them up until the home sells. The same goes for items in your kitchen, closets, etc. If your cupboards are bursting at the seams it might make a buyer think there isn’t adequate space for all of their items either. The goal is to have a buyer come into your home and envision their own pictures on the walls and furniture in the rooms. It’s hard for them to see their life here if all they can see is yours. Simplify and de-clutter.
4. Clean, clean, clean.
Wipe down everything in sight. Imagine this scenario with me for a minute: You’ve got a buyer walking through your home. They liked it enough from the listing photos that they would like to see it in person. They’ve already seen a few homes before yours, and they’ve got more showings scheduled after they leave. Also, this home is within their budget. They’re interested and hopeful that it will work for their needs. They walk in and the furniture is disheveled. The counters haven’t been wiped. The bathroom has splatters all over the mirror, and the toilet seat is up. (Please hope they didn’t peek into the bowl to see what was left!!) Although this home could’ve been perfect they leave thinking about the dingy feeling and yucky-looking areas of the home rather than the competitive selling price and great square footage your home might offer! What a shame! Even if they’re able to look beyond the grit, they might submit a low-ball offer because they think buying this house will require a lot more work of them than it actually needs.
5. Hire an agent who will photograph your property professionally.
You’ve already gone through lots of preparations and expense to get this home market ready, and you need a partner who will match your effort and highlight your home’s greatest elements in the best ways possible! This includes ensuring lighting is adequate, staging is optimal, photography is professional (that isn’t hurried and blurred, dark, too zoomed in or far away from the objects being photographed, etc.), proper framing, staging, and editing. The goal is to make your home look as close to a model home as possible in the listing photos and during showings. Many buyers lose interest in a home before ever setting foot in it because of unprofessional photos, listing descriptions and details.
But what if I just want to sell it “As Is?”
I know this might sound appealing – avoiding all of the headache of managing and completing repairs, updating paint, cleaning, etc. If there are repairs that are actually necessary they’ll most likely show up on a home inspection report. When that happens the buyers will ask for those repairs to be made anyways. Now you have more of a time-crunch than you would’ve had before and the lender might not lend on your home if the repairs are extensive enough. If the home inspection report seems lengthy the buyers might back out of the deal because the home seems to have more problems than they want to deal with. Let’s assume you’ve listed your home for $200,000 and it needs work done on it. A buyer might come in and offer $185,000 because they can see all the big things that need to be done. After negotiations you agree on a sales price of $190,000. This is $10,000 less than asking. What could have cost you $1,500 to fix is now costing you $10,000 just because the buyers feel daunted by the task. They might be anticipating the cost for the repairs to be much greater than they would actually cost, but you’re dealing with people’s emotions and not just logic.
Need some guidance on determining what repairs will actually add value to your home? You don’t want to sink a ton of money into this. How can you make your dollar stretch to get the most bang for your buck and find a buyer quickly?
I thought you’d never ask. : )
Call me TODAY and schedule a time for a listing appointment which will include a professional walk-through assessment of your home’s market-readiness, a determination of your home’s value, assistance with determining necessary repairs, a presentation of a strategic sales and marketing plan, and additional guidance on preparing it for sale.
Remember, the difference between “good” and “great” is attention to detail. So its time hire someone who cares about your details and is committed to helping you get top-dollar for your home!
