3. Sell a Home Quickly
Real Estate; Real Estate Consultants; Bathroom Remodeling; Kitchen Designers; Landscaping Contractors; Painting Contractors; Remodeling & Repairing Building Contractors
If looking to sell a home, it is important that you do it quickly. Homes that are on the market for a long period of time often have difficulty garnering the full asking price. Therefore, it is vital that your home is in optimal condition, with limited hurdles that distract potential buyers. Making a few minor home improvements prior to placing it on the market can significantly increase the total value. The majority of home buyers are looking for a home that is live in ready. That is, they can move in immediately without requiring extensive improvements. Ensuring your home is live in ready will not only ensure the maximum value is achieved but help it to sell quickly.
Solidify the Structure
Before any cosmetic repairs begin, make sure the structure and systems within the home are solid. This includes the roof, furnace, electrical, foundation, plumbing, exterior paint, and windows. Most buyers will not remember a beautiful kitchen upgrade if they discover the master bathroom has a leaky shower. Most home purchases require a home inspector who will find and identify structure problems. Not correcting them prior to showing the house will hurt its ability to sell.
Make a Good First Impression
Start cosmetically preparing your home for sale by fixing up the exterior. In order for the home to sell quickly, it will need to make a good first impression.
Potential buyers turned off by the initial curb appeal will keep driving past the house and never look inside. Once the exterior is in great shape, move inside and work to create a strong interior impression as well. A beautiful home generates an emotional connection with the buyer, making it a place where they can see themselves living. Prior to placing it on the market, make sure the following areas are covered.
Landscape: Make sure the lawn is healthy, edged and lush. If it contains large amounts of dead areas or unhealthy grass, consider replacing it with new sod. The value of the home diminishes with each project a potential buyer realizes they need to complete. Plant colorful flowers around the house and mulch each flower bed. Trim shrubbery and clean off sidewalks and driveways.
Eliminate Clutter: This is an inexpensive way to make a huge impact on the sale of the home. Limit the number of appliances on kitchen countertops, the amount of furniture in a room and reduce the amount of items sitting on dressers and floors. Store the extra items with friends and family or rent a storage unit. Don’t overload closets as buyers will look in these areas as well and be turned off by the amount of clutter.
Clean It Up: A solid cleaning is an inexpensive fix that will take years off a home. Nothing turns off a buyer quicker than seeing dirt, mold, mildew, stains, or rust. Clean fabrics and furniture and wash every window in the house to make them sparkle. The house should be thoroughly cleaned including walls, baseboards, carpets and cabinets. If necessary, update dingy walls with new coats of paint or buy new bed linens. The amount of money you spend upfront on cleaning the house will mean thousands for you at the final sale. If time is limited, hire someone to come in and clean it for you.
Keep It Bright: Make sure the house is well lit and inviting. Increase the wattage of light bulbs, staying within the maximum specifications to increase brightness. Upgrade outdated lighting fixtures and install modern light switches. If the day is overcast, turn on the lights and open curtains to maximize the amount of light when showing the home. Ensure there is a generous amount of warm light to create a lasting impression with buyers.
Kitchens and Bathrooms: These rooms have the greatest impact on the appeal of the home. Buyers today want kitchens that are spacious, open and up-to-date. Bathrooms should be modern, functional and clean. If major renovation is required, update these rooms prior to placing the house on the market. These rooms have the strongest return on investment and will help ensure the maximum home value is maintained. Make sure appliances, cabinets, fixtures, lighting and flooring are well maintained or replaced. Choose natural materials that are popular and in-style. Granite, ceramic tile, and hardwood floors are impressive and appeal to a large percentage of potential buyers.
Keep Things Neutral
If painting takes place prior to the sale, select neutral colors. Not every color appeals to every buyer and opposition to a strong, bold color could prohibit a sale. Potential buyers want to limit the amount of work required after they move in so a hideous color could diminish the overall value. This is true for both interior and exterior colors.
Cabinet, carpet, tiling and
flooring colors should remain neutral as well. Don’t limit sales because the existing buyer’s furniture clashes with the color. Mute any unique touches such as a purple and gold dining room. It may have sentimental value to you and your family but potential buyers may not find it so charming. For the purpose of selling the home, remove emotional, personal touches and future buyers will feel a greater connection to the home.
Fix What Needs to Be Fixed
The majority of future buyers want a home that is ready for them to move in immediately. They don’t want to spend the time or the money renovating rooms, remodeling kitchens, changing out fixtures or selecting new carpet. They expect the seller to do all of that for them. For every potential fix they encounter, the price of the offer will be reduced. Therefore, in order to
ensure the maximum value for the home, make sure it is in pristine condition prior to the first open house.
If carpet is stained or the floor has water damage, they will need to be replaced. Don’t assume you can leave fixes for the buyer because they will want to personally select the color or material. Buyers will choose another house requiring less work or will expect the price to reduce twice as much as it costs to repair it. An offer may come in $10,000 less than asking price because the carpeting needs to be replaced. However, the cost to re-carpet is only $5,000. Potential buyers will deduct thousands off just because they’ll have to do the work themselves.
Take a walk through the house and fix everything that is easily seen. Fixing what is visible is the first priority in terms of home improvements, creating a better appearance to attract potential buyers to the home. It demonstrates that the owners took care in their home and kept it in good condition. This will be rewarded when it is time to review the offer.
Please the Senses
Remove strong odors from the home prior to selling. Buyers are often attracted to a home based on how it smells. Scented candles, fresh flowers, potpourri and baked goods make a home more inviting and leave a lasting memory on the minds of potential buyers.
Eliminate strong smells such as pet odors, cigarette smells or exotic foods. These types of smells can linger in a home for a long period of time. Prior to an open house, have neighbors, friends or families walk through the house to ensure offensive smells have been eliminated. If odors still persist after everything has been cleaned, pay to have the carpets replaced and remove existing furniture. Replace the furniture with staged furniture until the house sells. The costs to re-carpet and stage will be returned as the home will garner a greater final value.
|