With spring right around the corner, is now the time to sell? Many believe that the spring time market is the best market. But are you ready?
Before putting your home up for sale, you have to understand that there is a difference between price and value. Price is the amount you are asking but the value of your home is perceived by the buyer. The value is what a potential buyer will pay for your home. This value is determined by many factors such as location, features, condition, possible problems, etc etc. By addressing details now, you can have a positive impact on your value.
Here are some tips to increase your value:
1) Size impacts value. People today have more belongings than they did years ago. Bigger TVs, bigger couches, etc. Open floor plans make a room feel bigger than larger spaces with smaller rooms. Showing a home that has less furniture and reduced clutter help make your room sizes bigger and allow potential buyers to keep an open mind
2) Not being present for showings. If you list your home with a real estate agent, we encourage you not to be present for showings. When the seller is home while an agent shows their home, the buyer tends to rush through the property or not investigate fully. They also might not ask all the questions they have for fear of insulting the seller or even making it seem as if they are too interested in the home. Sellers should also remove excess personal trinkets and family photos. Some are nice and makes the property feel homey, but an over abundance can make a home feel cluttered. If you are trying to sell the home yourself without an agent, of course you can’t not be present for showings – just give potential buyers space to breathe and look around and talk amongst themselves.
3) Cosmetics are important.
- Fresh paint will always add more value than it costs – just keep the colors more neutral so buyers don’t think they have to come in and drastically change everything to match their personal belonging
- Keep a clean house – even replace some of the worse flooring. Sometimes new flooring will add a lot more value than keeping what was there previously
- Landscaping adds value – if you can, add some colorful flowers and new sod – at the very least make the entrance area neat.
4) Take care of the obvious. If you had a roof leak that was fixed and you still have spots on the ceiling – touch up the painting there so potential buyers don’t think there are still problems and will affect the value in their minds
5) If you can, remodel/update the kitchen, and bathrooms. These 2 rooms have a big impact on value and can be modified without a lot of money to give it a fresh look.
Some sellers will pay for a home inspection before they put their home up for sale so they can address issues before any buyer can. This is not always a good idea because once you know you have a problem, you have to disclose this to any potential buyer and your agent. If you are considering doing this, put a lot of thought into the possible problems you might find and then have to address
If you are planning to renovate your home before selling, look into your bottom line first. Don’t spend more money to renovate your home that you won’t be able to recapture in value when you go to sell. When you put your trust in a Century 21 Gold agent, we can recommend what you should do to maximize your value. If you are thinking of selling this spring, contact us today to get process started and you will have time to prepare to increase your home’s value!
