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Well, you made the decision to put your house on the market. It seemed like a good idea at the time, but now you feel overwhelmed. Where . . . and as should you start? The answer: start at the beginning! Look at your home through “buyers eyes” – the same eyes you’ll look through when you’re looking his next home. This can be a difficult task because over time we get so used to our surroundings that it’s hard to see it at all. You may want to consult with a professional home stager who has been trained to look at your home emotionlessly and objectively. They will help guide you through this very important first step of preparing your home to sell.
Buyers in today’s market are not looking for a worn-out home with potential, better known as ‘repair-upper’. They are looking for a house that has obviously been well maintained and is on display, moving in conditions. Selling a home “as is” is fast becoming a thing of the past. It can still work when selling cars, but NOT houses!
The National Association of Realtors has reported that the average buyer will look at more than a dozen homes, some multiple times, before making an offer to buy. We currently have a market that is saturated with inventory in both existing and new homes. Buyers can afford to be more demanding than ever. . .are aware of this . . . and so they are!
Because homebuilders are paying interest on a huge amount of perpetual inventory, they are more than willing to lower prices, offer incentives like a free pool, a Mini Cooper car in the garage, pay all closing costs, etc. . For existing home sellers unable to offer such generous incentives, it has become extremely difficult to stay competitive in this demanding market. So it’s never been more important for used home sellers to go the extra mile (or two or three) when preparing their homes to present themselves in the best possible light.
Minor repairs and cosmetic improvements have been proven to not only help sell properties faster, but can also save you literally thousands of dollars at the negotiating table. If left up to buyers, statistics show they will factor in two to three times the actual costs of anticipated repairs, a high price to pay by anyone’s standards. While you may not like the idea of investing more money in a property you plan to sell, view it as a necessary investment that will add greater aesthetic value and ultimately result in a home better prepared to compete in this market. . .
Buyers are smart and will automatically start discounting a home’s sales price in their minds with every cosmetic deficiency and minor repair they see. That is why it is essential that you criticize, identify and eliminate these concerns even before they become a problem.
The following is a list of cheap repairs, remodeling ideas, and areas of concern to address to not only reduce the amount of time your home is on the market, but also to ensure you get the best price for your home:
* Pay attention to curb appeal. The exterior of your home is the most important ‘first impression’ for buyers and will determine if they even want to see the home. . . or walk away. Make any necessary repairs, such as adding a new coat of paint to trim, blinds, around windows and doors, and update colors if necessary. Make sure your gutters are free of debris and in good repair. Replace them if necessary.
* Landscaping is another very important area, essential to demonstrate how you have cared for the house. Your lawn should be well-manicured, mulched, and planted with seasonal flowers to enhance the look of your home and capture the attention of buyers.
* Fresh, professionally cleaned carpets are a must. Again, replace if necessary. There is no greater put off for a buyer than a carpet that looks stained, dirty and smells bad! Remember, people buy what they see. . . and smell With so many homes on the market to choose from, you won’t settle.
* Painting is a quick and inexpensive way to spruce up, enliven, and brighten a home. The rooms freshly painted with current colors will add aesthetic value to the house. Color can also be used to accentuate and highlight the key architectural features of the home.
* Kitchens and bathrooms are hot spots for buyers. Make sure all appliances and plumbing fixtures are in perfect working order. If they are not, replace them. You can easily and inexpensively change the look of your cabinets by adding stylish pulls, refacing, and adding new solid surface countertops to update the look. Backsplashes can transform the look of a kitchen by featuring mosaic tiles or carved stone. Repair caulk and replace towel bars and rings, soap and paper holders for a sleeker, more up-to-date look.
Remember, today’s homebuyers are ultimately looking for a home that projects the image of being loved and cared for. They want a home that is in showroom, move-in condition, not one that is being sold “as is,” which initially requires a great deal of time and money. Paying attention to detail, presentation, and necessary repairs will go a long way toward projecting this image and selling your home.