So, you’ve decided that it’s time to sell, you finally feel ready, and the momentum is growing. That can be a very exciting feeling but before you get ahead of yourself, it may be time to consider if you need to make a few fixes or enhancements to your home before selling. The key is selecting the right fixes to add resale value, not sink your profits. The Wall Street Journal couldn’t have said it better when they wrote, “update things that pay you back.” You want to be sure that any fixes or enhancements made to your home will maximize your profit before selling. In fact, Remodeling Magazine’s 2021 Cost vs. Value Report homed in on some interesting findings, their chief editor Clayton DeKorne explains “projects that improve a home’s curb appeal provide the most return on investment for sellers. A garage-door replacement, with an average cost of $3,907, for example, recouped 94% of the cost at sale, according to the report, while the installation of manufactured stone veneer on the exterior returned 92%. A minor kitchen remodel, on the other hand, generated a 72% return. The exterior curb appeal has a strong psychological effect on people, setting buyers’ expectations as they walk through the door. If they start out with a strong first impression, they’re in a better frame of mind to pay a higher price.”
According to Money®, online surveys have also found that homeowners who completed at least one improvement project were able to reach the closing table with an offer that was higher than their listing price as opposed to those who made no improvements whatsoever. So, what exactly are those broadly suggested improvements? Here are a few of the common improvements that were recently suggested by the National Association of REALTORS® 2021 Research Group:
A Professional Cleaning Service: there’s no denying that a good scrub can make just about anything more attractive. A great example would be professional carpet cleaning or removal.
Updated Landscaping: it’s incredible what some good curb appeal can do for a potential buyer. A neat and well-tended home exterior creates an air of intrigue. The potential buyer is far more enthusiastic to go inside if the outside suggests the inside would be promising. Consider some professional lawn care or repainting the home’s exterior.
A Light Interior Refresh: from repainting your interiors to give it a new and crisp feel, to changing out any damaged blinds, tending to those small changes can really make a difference when the buyer is walking through your home. Keep in mind, if you opt for some new paint, going with a neutral color is suggested.
Are you wondering what your specific home improvement project would be? Worried you aren’t sure what to tackle first? Fret not, we are here to help! Before selling your home, the agent you are matched with will schedule a home walkthrough and review its best features and necessary improvements along with giving tips to maximize the sale price. Those improvements will also go a long way when your agent has professional photography taken before selling your home! Are you ready to connect with your IDEAL AGENT®? Call or chat with us now to get the conversation started.
