- By Melissa Dittmann Tracey, REALTOR® Magazine
Little things can make a big difference in how much you ultimately sell a property for, according to a group of New York brokers who say just a few small, smart improvements to a home can increase the sales price by 5 to 10 percent.
They've calculated it down to a science. In a recent New York Times article, "To Sell an Apartment, No
Detail Is Too Small," brokers in New York City share how seemingly small defects in a home can drastically affect the home's final sales price and how just a few small staging upgrades-like throw pillows-can actually increase the value.
Here are some examples of what these New York brokers have found that can impact a sales price. (Keep in mind these are based on New York rents so the prices reflected below may be higher than many other markets.)
WHAT CAN DECREASE A PROPERTY'S VALUE
- Chipped plaster or broken bathroom tiles: Knock $500 to $5,000 off an offer
- Dirty rugs: Subtract $5,000
- Clutter: Subtract 5 to 15 percent from sales price
WHAT CAN INCREASE A PROPERTY'S VALUE
- Fresh towels and throw pillows (estimated cost: $700): Add $25,000 to sales price
- New lights (cost: $2,000 replacing lighting fixtures and $250 for a professional lighting designers expertise): Add $32,500
- Professional paint job (estimated cost: $10,000): Add $50,000 to the sales price
- Replacing cabinets (estimated cost: $20,000 on new kitchen cabinets and paint): Add $107,000
Franklin, Massachusetts REALTORS have noticed that homes decorated in neutral colors with bold splashes of color and minimal furnishings seem to get offers sooner. Bright lighting, gleaming windows and inviting walkways/entryways are important for optimal first impressions also. In the end, price is key but making the living space incredibly inviting will sell any home faster.
Give me a call at 508-369-5131 if you need help getting ready to sell your Franklin, MA or greater Boston area home. I'll put you in touch with a professional stager to make your home irresistible!
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