Are you planning to sell your home this coming year? If you are you won't be alone. The amount of listings that come on the market is predicted to climb in 2010 and approximately 70% of these will actually sell. Even though you'll be at the mercy of some market trends, the one factor that you can take total control of is the condition your home is in. Once the for-sale sign hits the front lawn, you won't get a second chance to make a good first impression. The key to success is to transform your home from living condition to showing condition before the buyers step on the welcome mat. Many sellers hit the market with properties that are poorly prepared or not prepared at all. The result is longer selling times, loss of equity or not selling at all.
Here are ten simple steps you can take to help minimize the negatives, maximize the positives and sell your home faster and hopefully for more money.
Major Repairs & Maintenance
That roof, furnace or carpet that you were hoping to get away with not replacing, replace it! Buyer's estimates of repair and replacement costs tend to be 2-4 times higher than actual and with more houses to choose from, they'll likely move on to a home that doesn't need as much work. Plus, a corrected deficiency becomes a selling feature!
Curb Appeal
Buyers get their first impression of a property from the curb. In fact many buyers Drive by a property before deciding to contact a realtor to schedule a showing. It's extremely important that the exterior of your property looks its best. Keep the yard free of toys and clutter, cut and water lawn, trim trees & hedges, plant flowers. In the winter make sure driveway, steps and walkways are clear of snow and ice. Remove derelict vehicles and seal driveway if needed.
Minor Repairs
Cracked windows, leaky faucets, torn screens, burnt-out light bulbs and spots on carpets are a few common items that need attention. Have a friend go through your home, he or she will probably notice some things that you have overlooked. Touch-up paint in high traffic areas or repaint a room where necessary. That bathroom that you painted red on a whim would probably look better painted taupe or Cappuccino.
Clear Out
Remove the clutter from your home and create the appearance of space. You'll have to pack at some point anyway. Get rid of unwanted items. Throw them out, have a garage sale or donate them. Remove children's posters and fridge magnets. Put away valuables. Don't just stuff things into closets, buyers will be looking there too. Don't forget the garage!
Spring Cleaning
Once the clutter is gone, a thorough spring cleaning should be the next step. If you don't have the time or inclination yourself, hire a cleaning service to do the job. This is a small investment with a potentially huge return. Windows, kitchens, bathrooms, oven, steam-clean carpets, go on a dust-bunny hunt and take no prisoners.
Depersonalize
Don't get too carried away here but family photos, diplomas etc. can be distracting. The little plaque saying "Billy's Room" on a bedroom door might be hard to take down but you want the buyer to see little Sally living there. I'm sorry but your children's heights marked in a door jam will have to go as well. Wash it or paint.
Sense Appeal
Your home should appeal to all of the buyer's senses. Make sure your home is bright and airy. Open curtains and turn on lights. Energy saving light bulbs are great but consider replacing them with the really bright ones temporarily. Fresh flowers and a basket of fruit are nice touches. Eliminate noises, the best sound for a showing is silence. Eliminate foul odors. Garbage, pets, cooking and SMOKING! Don't over do it with candles and air-fresheners, open a window. New paint or carpet can give your home a "new home smell". The most important things to remove from your home for a showing are yourselves, your pets and your kids.
Pre-Inspection
Consider having a pre-inspection done on your home. This is a good way to avoid any potential surprises come offer time and allow you to address any concerns before you market your property. A recent inspection report is also a good selling feature. Hire a reputable home inspector, your realtor will be able to recommend a few. This should cost $300-$500.
Home Staging
Home staging is becoming a popular way to prepare a home for market by adding a professional touch. A home staging professional has the expertise to decorate and "stage" your home so that it will look its very best. They make specific recommendations and change the look of your home so that it will be more attractive to buyers.
Pricing
With more homes on the market this year the pricing of your home will be crucial to your success. Obtain a comparative market analysis (CMA) from your realtor. He or she will suggest a pricing strategy based on the CMA. It's a good idea to get a second or even a third opinion. This will give you a chance to compare their services as well. It can be tempting to ask more for your home than recommended but keep in mind that the closer you price your home to the market value, the more attractive the offers should be. You will also improve your chances of receiving multiple offers. Properties that are priced too high often scare away buyers and result in many days on the market and lower eventual selling prices.
I hope this list is helpful. Good luck in 2010 and don't forget to call me when you're ready to sell!
Dean Manton
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