Statistics show that 90% of the buying population cannot visualize the potential of a property and 63% will pay more for move-in-ready homes. Therefore it is very important to make all those necessary repairs. This includes replacing cracked tiles, repairing torn screens, patching any holes in the walls, fixing leaky faucets, and repairing sticky doors or drawers. Replace all burnt out light bulbs. Re-caulk tubs, sinks, showers and re-grout if necessary. If your roof needs re-shingling, have it done.
Updating your home before selling is one of the best ways to generate interest. Updating doesn’t have to mean “expensive.” A little time and money and some elbow grease can make an exponential difference.
If you have old carpeting, replace it with wood, laminate, ceramic, or vinyl click flooring. Most people do not want carpets and there are so many reasonable options available these days. Remove old wallpaper and/or borders, update light fixtures, and replace dated draperies.
Modernizing the kitchen and bathrooms will bring you the highest return on investment. Painting the cabinets, adding a backsplash, new fixtures, and/or new hardware to your kitchen will spruce it up immensely and give you a huge bang for your buck.
Even the little things can make a huge impact. Updating or painting baseboards and trim will instantly modernize a home and make it more appealing. Installing new switch-plate covers; changing art on the walls (or the frames of existing art) or hanging mirrors; replacing shower curtains, rugs, and door mats; slip-covering furniture; and adding some “finishing touches” such as new cushions and decorative items; will immediately add a more modern feel.
Paint is the quickest, easiest, cheapest way to freshen and brighten your home. Using neutral colors is a good idea. You don’t want buyers to remember your home as the one with the red living room or the bright purple bathroom. Using a paint product to update your kitchen or bathroom cabinetry can cost you a few hundred dollars as opposed to thousands if you replaced them. Painting tired, worn furniture is another quick way to modernize your home. Even countertops, tubs, sinks, fireplaces, ceramic tiles, and concrete floors can be refinished using paint products.
I highly recommend that you DO NOT offer an allowance as incentive for buyers (i.e. roofing, flooring, decorating). Not only will you get your return on investment back, but your home will sell faster if you do the work yourself and list it as move-in-ready. Taking away any “MUST DOS” will leave the buyer no excuse to walk away without making an offer, and more prepared to pay your asking price.
Staging advice can help you determine what projects will bring you the best rate of return and staging techniques can help keep costs low by making the best of what you have. Contact me for more information and keep watching for my informative posts.