For much of the Country, 2016 still remains a great time to sell properties, especially with the continuance of the historically low interest rates that buyers want to take advantage of. So if you’ve decided that you want to sell, how do you get the most money for your home?
Sellers, especially first or second time sellers, may not know what they should do to prepare their home for the sale. It’s important to know what you can do to increase your home’s value…and knowing what not to do is just as critical. Of course you should always consult with an experienced Realtor, or speak with several, before you choose whom to hire, but here are some general guidelines to follow:
Home Improvement Tips
Below are 10 things you can do to get the highest return for your investment:
1. Spruce up your kitchen and bathrooms, which is what’s most important to buyers.
2. Change cabinet handles, faucets, or light fixtures that look outdated and worn.
3. Replace your appliances if old or not working properly.
4. Repaint if necessary, especially any rooms with bright or bold colors.
5. Declutter and depersonalize: Start organizing and taking photos down so buyers can imagine themselves in your home.
6. Do minor or inexpensive repairs such as fixing a running toilet or leaky faucet.
7. Recaulk around the bathtub if needed and regrout the tiles if it’s loose or missing.
8. Try to remove any source of smells in the home due to pets, moisture, cooking, etc…
9. Create curb appeal by mowing the lawn, trimming the trees, or adding potted plants or flowers to make a great first impression.
10. Consider hiring a professional stager, especially if home is vacant: The bonus is you can write it off as a sales expense.
Costly Mistakes When Selling
Below are 5 things to avoid when selling your home:
1. Not doing minor improvements and simply selling “As-Is.” Inexpensive repairs will go a long way, resulting in selling your home quicker or for more money.
2. Overspending on high-end renovations to wow the buyers. You are likely to not get the return on your money.
3. Putting a ton of air fresheners or candles out to “hide” the smells. Buyers may wonder if you’re trying to mask a problem or get turned off when the smells are overpowering.
4. Over-improving a home for the neighborhood. Too big a house may get appraised under your desired sales price.
5. Repainting the entire home. You will likely not get the return for it, so do only the kitchen and/or bathrooms and the non-neutral colored rooms. Magic Eraser does wonders with scratches on the walls.
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* Some information derived from Consumer Reports.