Summer is just around the corner, and if you’re ready to upsize or downsize to a new dream home, this is the perfect time to start preparing your property for sale.
If you’ve been living in your current home for more than five years, you can expect a healthy return on your investment.
Median existing-home prices have surged by 38% since 2020. The average price of a home is now $355,000, according to aggregator Zillow.
Analysis from JP Morgan suggests the market is now stabilizing with home values likely to rise in line with inflation at 3%.
More sellers are entering the market, according to the National Association of Realtors. It states there were 16.5% more homes for sale in January than 12 months before.
This indicates seller confidence in their ability to achieve their desired price.
While we still have fewer properties for sale than the historical norm, buyers are showing caution because of high mortgage costs of around 6.8%-7%.
Therefore, as a seller, you still need to make an effort to achieve your goals, as no sale comes easily.
Here are eight tips for giving your prospective buyers a five-star presentation:
Enhance curb appeal: Every agent will tell you first impressions are crucial. Mow the lawn, trim hedges, weed flower beds and consider adding colorful flowers. A fresh coat of paint on the front door can also make a big difference.
Declutter and deep clean: This is another proven agent tip. A clean and spacious home is more appealing. Remove excess furniture and personal items, and thoroughly clean every room. Pay particular attention to kitchens and bathrooms.
Highlight outdoor spaces: It’s summer, so showcase patios, decks and gardens. Stage these areas with comfortable furniture and create spaces for relaxation and entertainment.
Let in natural light: Make your interior as light as possible. Open curtains and blinds to maximize natural light. Clean windows to make them sparkle.
Fix it up: Leaky faucets, broken light fixtures and damaged walls will negatively affect your price ambitions. Buyers usually see these problems as a sign there are other maintenance issues.
Be cool: Keep your home cool. Ensure your air-conditioning system is working efficiently. If you don’t own an AC, use fans to keep the house cool during showings. If it’s a super-hot day, close windows and curtains until the buyers arrive to stymie the heat.
Depersonalize: This is another favorite agent tip. Remove personal photos and memorabilia so buyers can picture themselves living in the house or apartment.
Stage Your Home: This is an extension of depersonalizing your home. Add fresh flowers, light-colored decor and summer-themed accents to enhance the seasonal appeal.