When it comes time to sell your home, you’ll have to put a lot of thought into how it will be marketed, and, how it will present itself. You probably know that around ninety percent of home searches begin online, and, those images, along with the listing description, will be very important to getting your property to stand out from the competition. The images which appear in the listing description are vital to making a great impression. If you don’t you’re now effectively marketing to less than a third of qualified buyers.
According to the latest figures available, an impressive 68 percent, more than two-thirds of buyers are set on finding move-in ready properties. That means if you really want to get top dollar as a good return on your investment, the property will have to be in the right condition. The trick is, of course, knowing what and what not to do to sell, so you avoid spending money where there’s little to no return.
Keys for Remodeling to Sell
If you take a look at the average return on investment for remodeling projects, you’ll discover the typical hovers around 62.2 percent, according to a new report published by CNBC. While that’s certainly fine, if you’re going to stay put for awhile, like at least five years, it’s not a good deal if you’re ready to sell your home. What you have to do is to think like a buyer, and, what you’ll pleasantly find, is that it’s more about repairing and replacing rather than outright remodeling.
“Are you trying to sell your home, but you’re worried that the pink tile in the bathroom will turn buyers off? Maybe it’s the shag carpet in your living room that’s got you worried? Well, it might be time to make some small updates. But be warned: Some remodeling projects could not only be huge money suckers, but they might also fail to add resale value to your home. When deciding which projects are worth completing, you don’t want to over-invest your time and money. Expensive projects are rarely worth it if your goal is simply to sell the house.” —Yahoo Homes
If you put yourself in the same mind as a buyer and use a critical eye, you’ll find what strikes real buyers as being turnoffs are all those little things that you’ve become accustomed to because you live in the home. It is the small things that have big impacts, and, since you’re up against a whole bunch of new construction, it’s those tweaks and price-point which can give your property an advantage. Here are the keys for remodeling to sell:
- Create a realistic budget and stick to it. Let’s face it, you certainly don’t want to put money into a home that will no longer be yours in the near-term. What you should do is to spend where it’s necessary. So, create a realistic budget and be prepared to stick with it.
- Look far and wide for small details. You can do this yourself, but, it’s a good idea to have a co-worker, friend, neighbor, or even family member walk through the entire home and test everything. They’ll notice that leaky faucet, peeling paint, and missing drawer pulls where these have become commonplace for you.
- Upgrade where least expensive. Speaking of pulls, hardware is a very inexpensive, yet effective, way of transforming a kitchen. A fresh coat of interior paint will go a long way, as will a new towel rack and bath rug. Focus on small things but don’t ignore bigger repairs.
- Keep true to the overall theme of the house. Whatever you change, be sure that it fits in with the overall theme. You want to create a flow, not discombobulate with disjointed themes running into one another.
Once you have the place spruced-up and ready to show, you should take the time to stage the property, inside and out. This means decluttering, depersonalizing, rearranging furniture for maximum flow, and upping the curb appeal. You can then begin to photograph it and put it up for sale.