I have spoken with many home owners who want to sell their home, but feel they must complete those long overdue renovations before they put their home on the market in order to get top dollar. If this sounds like you, please read on before you make that costly trip to the local home store.
Despite the promises and claims of some renovation companies, the top 3 projects you can complete that will have the best return on your investment and have the biggest impact on the sale of your home are actually the cheapest to complete. They may not be as flashy as a new kitchen or bathroom, but they will get you to your goal of a successful home sale quicker and with less headaches, AND you will recoup more money than you spend.
Chances are this big "industry secret" is something you already know in the back of your mind. You have decided to sell your home and you have also decided that you are willing to do what it takes to get top dollar and be sure that yours is the home that sells quickly. The irony here is that what it takes is much simpler than many of us think, so here they are...your top 3 profit making projects.
1. Start Packing!
After all, you will be moving. The time to start packing away your extra items, knick knacks, out of season clothing, and all of those items you have accumulated is actually BEFORE you put your home on the market. This will really open up your home and make it feel more spacious and welcoming to prospective buyers. We are not going for an empty house here, but one with room to move about in, open counter space, and room in the closets and cabinets.
Even if you have tons of closets and cabinets in your home, if they are stuffed to the brim, buyers will get the feeling that there is not enough storage space in the home. If every wall and surface is covered with photos and decorations, the home will feel cramped no matter how large the rooms are. A good rule of thumb used by stagers and designers is no more than 3 items on any surface. Buyers will also be more able to start picturing themselves in the home if they are not staring at your family photos and your personal treasures.
Don't forget about the garage, basement, or that "catch all" room you tend to put things in. If you have the space, stack the boxes neatly against one wall. If you don't have extra room, talk with family or friends about storing your items. *HINT: Bribery works well here. You can increase the chances of a "yes" answer by an IOU for a free house cleaning or sometimes just a pizza party. Renting a small storage space is even a good idea. The small monthly cost of the storage unit will be worth it when your home sells more quickly and for more money.
2. Clean!
Not just any cleaning. Clean like your mother in law is coming! Now that you have packed away the items you will not need in the immediate future, this job will be easier. This will be a traditional "spring cleaning" no matter what season it is. Now is the time to vacuum every corner, clean out under the sinks, get those marks off the baseboard and doors, clean off the switch plates, around the light fixtures, and make those windows and floors shine. Cleaning the carpets can also breath new life into them and remove any unwanted smells. The simple act of a thorough cleaning gives the buyer the impression that the home has been well maintained. A cluttered or dirty home makes a potential buyer worry about what they may not be seeing. A clean and uncluttered home gives the buyer confidence that the home (and all it's systems) has been taken care of.
3. Paint with neutral colors.
Nothing spruces up a home like a fresh coat of paint. Your daughter has enjoyed her bright purple room, and you may love your neon orange bathroom, but potential buyers look at this and see more work for themselves. A move in ready home will sell more quickly and for more money than one that will require scraping, patching, and painting. A fresh coat of medium tan may seem boring to you, but it is a welcome and calming sight to buyers. If your ceilings look a bit dingy, don't forget to freshen them up with a coat of white ceiling paint. This is the only project in the top 3 that will require a small investment beyond your own time and energy. However, the return received for the cost of a few cans of paint, some brushes, and drop cloths is tremendous.
There you have it! These top 3 projects will bring you a much larger return on investment than any well intentioned home renovation project. Tackle these three and you will not only sell your home quicker and for more money, but you will also have saved yourself thousands in renovation costs that you can then use on your new home so that you will be the ones to enjoy the fruits of your labors.
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