Preparing a property for sale can be a daunting task, but too often sellers spend way too much money that they will not get back. Studies show that large remodeling projects have very poor returns on investment and therefore should not be completed merely for resale purposes. The big question every home owner asks their REALTOR is “what do I need to do to sell?”
Too often, anxious real estate agents offer poor advice on this subject, often in an effort to get the property to market quicker. The real answer is to tackle the large cosmetics; after all, that is what attracts buyers to your property.
- Paint: Paint is one of the easiest, and most cost-effective projects for home sellers to take on. Even if you think neutral is boring, neutral colors have the widest appeal and wide appeal leads to more interested buyers. Hire a pro or take on the DIY project, either way a fresh, professional paint job will make a massive impact. There are even paint contractors that specialize in 1 day turnarounds so that you can still get on the market quickly!
- Flooring: Old carpeting is a huge turn-off to buyers, the last thing they want to worry about when buying a new house is spending thousands of dollars on carpet before they even move in. Also, remember that many home buyers are putting their life savings into the down payment and may not have the funds to sink into flooring right away. Many sellers convince themselves that buying carpet for the next owner is a waste of money, but in fact the opposite is true!
- Landscaping: We aren’t talking about massive water features and complete landscaping remodels, but as we all know first impressions are important and the first thing buyers will see is a photo of the front of your house. Make sure that the exterior is in tip-top shape before letting your REALTOR take a picture; better yet, provide your own exterior photos to your agent after you have everything looking perfect.
- Staging: People spend years filling their homes with personal items and furniture, these things make us feel great but can be a real turn-off to potential purchases. A professional stager can help you declutter and rearrange so that buyers fall in love with your property. Statistics show that staged properties sell quicker at higher prices. Think of the bright side, you can get some packing done early!
These are just a few tips to maximize your return and believe me, they are much less expensive than large remodeling projects. Sellers that address these 4 items rarely, if ever, have problems attracting qualified buyers.