Folks will say there are no guarantees in life, but when you’re spending hard-earned dollars on upgrading your property before a sale, you’ll want to know there’s going to be a pay back on your investment.
The challenge for every homeowner is to decide whether the money is best spent. While you’ll find an opinion on just about every street corner, as a local real estate agent, I talk to buyers every day about the features of a home they value the most.
If you’re a seller of anything, you should always focus on the wants and needs of the buyer. In real estate, this strategy will not only deliver the best possible price but also ensure a swift sale.And with real estate prices showing extraordinary strength at the moment, there has rarely been a better time to maximize the value of your home.
Certain aspects of your home – location and land size – dictate this value and are out of your control. But you have many opportunities to make your property more desirable and influence the speed of the sale.
Right now, Americans are feeling good about the market. A Harris poll has shown 65% of owners expect the value of their property to continue to grow over the next decade.
Below is a list of seven actions you can take to capitalize on the current market strength and buyer optimism for our future.
- Go for curb appeal – First impressions are everything – especially in real estate. If buyers don’t like the look of your property on approach, they’ll look for every problem and persuade themselves to walk away. To avoid this, consider repainting the exterior, landscape the front yard and fix any cracks in the paths and driveway.
- Make the kitchen and bathrooms sparkle – These rooms most influence buyers. Depending on their states of repair, they’ll either drive up the price or become a millstone as buyers leverage their poor state to negotiate a discount.
- Kitchen upgrade – Prioritize the kitchen. You don’t have to rip-and-replace – update cabinets and drawers with new doors and handles. Perhaps a modern countertop will make it sparkle. New flooring is another option that can revitalize this area.
- Bathroom beauties – It’s expensive and time-consuming to replace a bathroom, so try to avoid doing that. If it looks dated, re-tile in classic black and white. Update the vanity, faucets and showerhead. And see what you can do to increase storage.
- Maintenance magic – Buyers resist buying a home that needs immediate work. Ensure core aspects of the property – furnace, roof and gutters, door and window frames, electrical wiring and water heater are in tip-top condition.
- Green is good – Buyers love an environmentally-friendly home, and many will pay a premium for this. Solar heating and hot water is a big plus, so long as the electricity supply kicks in during autumn and winter.
- And tech is hot – Smart homes still stand-out from the crowd. Investment in relatively simple and affordable technology can repay you in spades. State-of-the-art thermostats, fire detectors, security cameras and motion-sensor lighting, and electronic door locks are all crowd-pleasers.