One of the most common items discussed when preparing to sell a home by a homeowner is: 

What should we do to get the home ready to sell?

 

ANSWER:

It is a multi layered question, the home itself could need some “updating” and depersonalizing. The word updating can mean many things to each of us, however when you work with a professional realtor the guidance they provide can vary from paint to remodels. If there are items in the home that need attention I.e. fresh paint along main areas, trim being added or filled ( separating gaps over time from swelling and contracting of wood), backsplash added on the kitchen, light fixtures updated, and the list is endless. It is endless as every home is different from the finishes to the lighting, every item you do should add appeal= this means value!!! There is not always a monetary amount in value added, as the goal is to sell the home for the highest price in the timeline you desire. 

The value every detail makes shows through in marketing and time of market, which both impact your net proceeds.

 

Example: This home sold for 72k more than the owners expected, they put in 4k on the kitchen!! Throughout the home it was paint and flooring- total of the whole home being done was 11k. Most projects aren't even this much on the cost of the refresh, this one had tenants for years and just needed a good scrub with adding fresh paint/flooring throughout the rest of the home!!

The owner lived in another state and could not be in town for the project, it was managed by our preferred vendors with my team overseeing it. Then our marketing team took over to give the home the exposure it needed- with giving the buyer the home they love and the seller the net profit he didn't believe possible before.

 

Kitchen update

BEFORE ( dark and original appliances)

 

AFTER ( new flooring, new appliances, and new paint)

 

 

When a home is “move in ready” it will bring a higher price, the items you do ahead of listing brings the equity in the home up. You have more equity in a home that is showing in its best form and when someone decides to leave “as is” when things are needed= more time on market and more options for buyers to negotiate the homes price. 

The example above sold for $305k and with it selling for $72k higher then other homes that were comparable without any updates, that is a 24% more in net proceeds to the seller!!!! 

I have sold my personal homes following my own advise, helped stage homes( even owned a staging company), planned out full home remodels, coordinating flip homes remodels, and I use all of this to help clients daily. 

My mindset on the topic: 

If there are things you have lived with and don’t see as an issue, that does not mean it will not be the same for a buyer. If you have the home personalized to your taste, imagine when you look at homes that are not to your taste!! Making the home a blank slate with timeless finishes will allow others to imagine themselves in the home. When you make your home as presentable then you show its true potential to cater to the highest buyer pool. This would be done through updating and refreshing the shell (walls/ceilings/floors/landscaping/exterior) then you are choosing how the home will be understood by buyers. The effort a seller puts forth does not go unnoticed, as it ALWAYS draws more exposure when matched with the right marketing.

 

The example above is only one of the many we have had over the years.....

I will share more on the topic in our next blog!!!

Stay tuned and give us a call if you are thinking of selling- we will work for you 910-222-3347