If you are thinking of selling your property, your primary goal is likely to get the best price for your home as quickly as possible.
However, if you have lived in your current residence for many years or possibly have not been maintaining and updating through the years, you may want to invest some time and money into improvements in order to get the highest price.
It is true that there can be significant costs associated with making upgrades. However, simple improvements to your property won’t cost you thousands and will make a BIG difference.
I am often asked by prospective sellers to give ideas for preparing a property for sale without breaking the bank. My goal is to give ideas to increase value and make the greatest impact on buyers.
These are some of the items that came up on a recent consultation walkthrough with a prospective seller who wants to list in a few months and some of the ideas I presented to her.
Paint. Wallpaper and Flooring – The wallpaper was dated and the paint colors were just plain --- sorry --- ugly. Buyer consensus: Buyers prefer neutral colors and the majority do not like dark trim. Painting the trim white changes the whole personality of the room/house and brightens.
Check out the picture above and one below. Changing the wall paint and trim made a big difference, don't you think?
I recommended removal of most if not ALL the paper, and to paint rooms where necessary with a neutral color. Carpeting needed to be thoroughly cleaned with NO visible tracks and NO wear. All floors, whether tile or hardwood, needed to be clean and shining.
Declutter and Clean…then clean again – I always tell sellers they are going to have to pack their belongings anyway so get started. I told her to start removing personal pictures from rooms and remove at least one piece of furniture in each room to create a better feeling of the space. Buyers need to see the space so they can visualize their things in that space. They don’t need to see all the seller’s mementos and furniture from the last 30 years. Remember Sellers: You are selling your HOUSE not your HOME.
Also, pack up collections. While YOU may love your figurines, sports memorabilia, or dolls, most buyers will not. You want to appeal to the broadest base.
Change out the outdated items -- I looked around and saw some very dated lighting fixtures and then some worn out doorknobs. These can be replaced with newer fashioned ones to create a fresh, updated look without a huge investment. Shop around at the discount hardware stores for the best buys. If closet and room doors are in bad shape and can’t be freshened with painting, if not too many, consider replacing with six-panel doors if the cost is not excessive.
Bathrooms and kitchen – These are two areas that have the biggest impact on price. They cost the most money to completely redo. Many times, though, a partial makeover is all that is needed. Fresh paint, new counters (there are SO many different surfaces to choose from although around here granite is still king) but there are lots of options. Cabinet painting is very popular and there are so many more options today than even a few years ago.
Worn, dated appliances are a bid detractor. Stainless steel still holds top place for buyer preference and attraction. There are plenty of places to shop and purchase an appliance package deal that will return more money than you have to spend on them. Stores that offer scratch-and-dent items, where the damage is really hard to find, can offer a good discount on appliances. You have to be careful, though, with doing only a partial update because the new update, like countertops or appliances, could make the older, worn parts of the room stand out even more.
Dress up a foyer or dining room – My buyers are always impressed with wainscoting. While adding this to a room can cost a lot, there is a less expensive way to accomplish this. Paint the bottom white, add a chair rail, and use either mitered squares or even picture frames (available at big box stores).
Also, did you know there’s such a thing as foam crown molding? Yes, a lot less expensive than wood and looks the same!
Improve curb appeal – Nothing can scare a buyer away more quickly than property that is visually unappealing. Curb appeal encompasses both the building and the land. How does it look when you drive up? In her case, the building was in great shape, freshly stained, newer roof, gutters and leaders, and clean windows and front entrance.
However, the landscaping lacked appeal. The lawn has multiple bald spots, the shrubs looked half dead, and the beds were basically unkempt. While not the blooming season, you can still tell the landscaping was in need of some attention.
Trimming, pruning, displaying some potted flowers, and adding a new bush here and there would create a much better impression as the buyer drives up.
Always get advice on improvements that should be made BEFORE making them. I say this because I did have a client who bought all new extremely high end appliances which were beautiful before she called me, BUT she did not get her money back on those as similar homes had upgraded appliances but not at that level. She overbought thinking it would make a huge difference but it didn't. It was merely a nice bonus for the buyer.
If you would like a thorough analysis on how to prepare your home for sale to get top dollar for your property, please contact me today for a free consultation. I can tell you what appeals to buyers and provide you with a written plan to follow to help you get a SOLD sign on your property.
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