If you’re planning to sell your home, you may have realized that the process might not be as easy as it would have been a couple of years ago. The good news; however, there are some positive steps you can take to make your home stand out, even if the market is a bit crowded.
A few years ago, when the market was boiling, homeowners mistakenly believed that putting a lot of money into their homes would pay off when it came time to sell. Unfortunately, they didn’t realize that upgrades and remodels are really just mediocre investments. In reality, very few projects pay for themselves, let alone turn a profit.
So what should you focus on when preparing your home for today’s market?
First, before you take on any project, make sure they are the right types of projects. The projects that should be prioritized are those that will actually protect your home from damage and deterioration. This includes replacing the roof and making plumbing and electrical updates. These types of projects won’t do much to beautify your home, but they will go a long way toward preserving the home’s value.
You also need to make sure your home has curb appeal. At a minimum, buyers today are looking for a good paint job. If the exterior of your home is already in good shape, you may be able to get away with just doing a little touch-up work. The main idea is to make sure your home stands out. A little paint doesn’t cost much and in the end it can really go a long way in making a difference when it comes time to sell.
When painting your house; however, it is important to keep in mind some guidelines. First, make sure you’re using quality paint. Remember, this is not just for show. Ideally, it is best to use two coats of finish. This will provide protection from mold, moisture, and the effects of the sun. Second, work to make your home stand out, but avoid colors that make your home stand out too much. Choose colors that have universal appeal.
Make sure your garden is tidy. Trim those bushes and keep your lawn neatly trimmed; even if that means hiring a service to handle it while your home is on the market. The investment will pay off when your house is sold. Avoid spending too much on landscaping; nevertheless. Ideally, you should spend no more than 2% of your home’s value on landscaping before you sell it. Any more than that and you won’t be able to get it back in the final sale price. Focus on spreading mulch around trees, trimming bushes and walkways, and mowing lawns. If the season is right, add a few pots around the patio and driveway.
Spend a little time in your driveway. If it hasn’t been resurfaced in a while, now is the right time to take care of the cracks with some asphalt sealer. This is a great way to give your home the curb appeal buyers are looking for without spending a ton of money.
The basic rule of thumb when preparing your home for the market is to avoid making too many improvements. Getting carried away will eventually cost you. For example, contrary to popular belief, adding a pool to your home will do nothing to increase the bottom line value. In fact, it will actually detract from resale value, since homes with pools cost more to insure and maintenance costs can turn off some potential buyers.
Any home improvement you make should fit in with the neighborhood. Take a good look at the houses around your area. The key here is to make sure you keep up with the neighbors, not try to outdo them. If most of the houses in your local neighborhood have two bathrooms and you only have one and a half bathrooms, upgrading to two bathrooms might be a good investment. Four would be pushing him.
If you plan to redecorate, avoid doing something that is too trendy. While it might be in style today, it will be out of date tomorrow. Along the same lines, avoid over-decorating. Choose neutral colors that allow buyers to envision how they will add their own personal touches to the home after they buy it.
Take the time to clean up the mess. Remember that too much clutter can make rooms seem smaller. Clean tables and counters and remove any extra furniture you don’t need. If necessary, rent a space to store additional belongings until the house is sold and you move in.
Create a homey and comfortable environment. Make sure the house is clean above all else, but also take the time to set the stage. Set your table, put out fresh flowers, make sure bathrooms have guest towels, etc.
Finally, make sure your home is priced to sell. Take the time to make sure your home is priced correctly and isn’t overpriced or underpriced. Homes that are priced too high, as well as those that are priced too low, tend to stay on the market longer. The longer a home stays on the market, the harder it is to sell. So start off on the right foot by pricing it right the first time.
