Improvements to Make Prior to Selling
Sellers are wondering what home improvements to make prior to selling a home. People have more time on their hands right now and are wanting to update their homes so they are ready to go on the market. One doesn’t want to put a lot of time and money into improvements that won’t provide a good return on investment. The following 5 improvements will be helpful in selling your home, and be worth the time and money you invest. The kitchen – Obviously, the kitchen is where food is prepared, and people are hypersensitive to the condition it is in. You don’t need to do a complete kitchen remodel to make a big difference. Upgrading countertops, a new faucet, painting or staining cabinets, change the knobs and pulls, maybe add a backsplash, and clean from top to bottom. If the appliances are older, purchase a new appliance package to help make an older kitchen look up to date. The bathrooms – Bathrooms are the other space in your home that buyers are pretty picky about. People are looking for squeaky clean, and up to date bathrooms. Depending on the age and condition of your bathrooms, a new vanity, water saving toilet, new faucets, and new hardware can make a big difference in the impression your bathrooms will make. Lighting – how is the lighting in your home? Out of date fixtures date a home immediately. While you may not see anything wrong with the fixtures from years past, buyers are not going to like them. Installing new light fixtures in your home is an easy way to give a home a fresh and updated look. Appliances – buyers are always concerned about older appliances breaking down. Now would be a good time to shop for deals on appliance packages to replace your older ones. When you are shopping, make sure and look for the energy efficient appliances. While you are at it, install a smart thermostat if you don’t already have one. Buyers are very into smart homes! Paint – If you haven’t painted your home recently, now is the time to do it. While you are de-cluttering, you should be removing photos and other wall hanging items, and holes left behind will need patching anyway. Regardless of your preferences, it is advisable to paint the entire interior in the same neutral shade. Let the new owners add the colors of their choice to the walls when they move in. It’s also advisable to remove wallpaper, and simply paint. If you can, make these improvements prior to selling your home. They are fairly simple and low budget but will make a big difference to buyers who will be looking at your home. Give a call, 320-761-0952, I have tons if ideas that have helped my sellers get premium price when selling. If you want premium price you need to deliver a premium product and I can help you navigate that.
Tips For How to Price Your Home For Sale
Pricing your home correctly is critical to your success as a home seller. If you set your price too low, your home may sell quickly but you may end up without enough money to effectively pay for the cost of a move or a new home. On the other hand, if you set the price too high, your property could sit on the market for months. Here are some guidelines to keep in mind when pricing your home. Your Home’s Original Purchase Price is Not a Factor of Its Current Price No matter how much – or little – you paid for your home when you originally bought it, those figures don’t necessarily have anything to do with the sale you’re about to undertake. The truth is, markets change. Your home might be worth a lot more or a lot less now than when you first purchased it. Not All Improvements Add to the Value of Your Home In fact, many homes are over-improved for their size or neighborhood. While some improvements, such as the addition of extra rooms or a garage, do add value, others are more of a matter of taste and style. Unfortunately, you won’t be able to count on your favorite improvements meaning anything to a prospective buyer. If You Overprice, You Actually May End Up Selling for Less Than Market Value It may sound shocking, but think of it this way: If your home is overpriced, buyers in that price range will likely opt to purchase larger homes in favor of yours. And at the same time, your best prospective buyers may never even get to see your home because they’ll perceive it as out of their price range. In this scenario, your home will end up on the market for much, much longer – adding to your carrying costs – and you ultimately may need to drop the price below market value in order to offload the property. Pricing is the Market’s First Impression of Your Home New listings create excitement in the market, as agents are always eager to find something new to bring to their prospective homebuyers. Because of this fact, your home will get the most activity – and likely its best offers – within the first 30 days of its listing. If you price your home too high, you might miss out on some of your best early-bird prospects. Too low, and you may turn off buyers who could end up looking at your home and wondering if there’s something ‘wrong’ with it. And eventually, your listing becomes old news, even ‘stale’, and over time, overlooked. The good news is, much of this confusion (and its potential consequences) can be easily avoided by asking a real estate agent to perform a Competitive Market Analysis (CMA) for your home, which will give you much better insight into your property’s real value in the current market. If you’d like a Competitive Market Analysis performed for your home, as well as more in-depth guidance on the ins and outs of selling your property, we are happy to help. Feel free to reach out to us any time – we’re always here for you.
Do Home Improvements Increase Your Home Value
Thinking about making home improvements or remodeling? Certain projects do wonders to increase your home value, while others not so much. Whether you’re looking to make these improvements in preparation for an upcoming move, or simply because you want to, here is a breakdown of what major and minor remodeling projects can do to your property value. Roof Replacement Replacing a roof is a necessary improvement, but unfortunately, it will not increase the value of your home. When listing a home, mentioning that the roof is new may help entice buyers, but you cannot raise your asking price to cover your costs. Additions Adding a room to your home can increase your property value, but it is dependent on the type of room you are looking to build. Adding another bedroom or bathroom is a fantastic way to add value to your home, but offices and living rooms can not only be costly but may steer buyers away due to additional heating and cooling costs. In-ground Swimming Pools Depending on your geographic location, adding a pool can either increase your property value or make your home more difficult to sell. In the southern half of the country, you are likely to see an increase, but the opposite is true in the north. Swimming pools increase energy costs, homeowners insurance, and can drive away many families with small children due to safety concerns. Deck/Patio Adding an outdoor living space to your home is a fantastic way to add property to your home. Whether extravagant or plain, a deck or patio increases the usable, livable space that a home provides, which attracts buyers. Kitchen Remodel Updating your kitchen adds value and makes your home more attractive to potential buyers, but you don’t have to build out a gourmet kitchen to do that. Replacing appliances and using modern colors can do wonders. What you need to keep in mind, though, is that you don’t want to make your kitchen nicer than the rest of your home or the neighborhood. Insulation & Windows Adding new insulation or energy-efficient windows not only reduces your energy costs but also adds value to your home. You can even earn a green energy tax credit when you complete your project! Sunrooms Though sunrooms can be a lovely place to spend a sunny afternoon, they do very little to add value to your home. These spaces can increase your energy costs due to the lack of insulation and may be unattractive to buyers for that reason. People choose to make home improvements for a number of reasons, from necessity to aesthetic appeal. If you’re looking to add value to your home, just keep the list above in mind! If you have any questions about home improvements or would like help deciding what might be the best value project to do reach out to one of our amazing agents today!
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