Once you’ve decided to sell your home and climb the property ladder, it’s time to focus on what you can do to maximize the value of your biggest financial asset.
The challenge is to improve the property only in ways that will help increase its value and asking price.
As an experienced real estate agent I have seen many owners spend money on improvements that buyers don’t value, or they’ve spent so much money that they’ve over-capitalized. That is, they’ve spent more money on the property than it’s worth.
Both scenarios are real estate mistakes that I work with my clients to ensure they never commit.
When preparing to sell your property, you should get a good team around you and take your time before making any upgrades. I can guide on current buying trends in the neighborhood and suggest improvements that will give you a return on your investment.
As an agent, I always offer guidance on an asking price before and after any proposed remodeling. Based on this, you’ll be in the best position to decide how to proceed.
With this in mind, I’ve put together eight tips for increasing the value of your home before sale.
- Find your inspiration. Go on apps such as Instagram and Pinterest and check the thousands of photos of home makeovers. Sites such as Houzz are also excellent sources.
- Call in an architect or interior designer. They’ll charge an hourly rate and will see your property with fresh eyes and offer some ideas and inspiration. Give them a budget ballpark and see what they say. Ask the architect how they might increase the square footage with the least pain and expense. Your interior designer will assess your furnishings, their placement, and suggest on-trend colors and styles.
- Fix the tough stuff. If you know there’s a problem with damp, termites or the electrics, get them fixed now. These issues will only turn up when a prospective buyer orders building and pest inspections. If they find anything, they’ll walk away or drive a hard bargain. Alternatively, accept the problem exists and resign yourself to a lower sale price.
- Enjoy a stroke of genius . . . with a paintbrush. Paint gives a home a fresh feel and can hide the knocks and bumps that walls and skirtings suffer over the years. Keep the tones neutral to avoid buyer objections to your color scheme.
- Floor it. Be honest about the state of your carpets. If they’re anything less than five-star, you might want to expose existing floorboards or install new flooring. Carpets are not popular right now because they attract dust and diminish air quality in the home. This investment is not small but will pay you back. Investigate the array of alternatives available. Bamboo is becoming increasingly popular.
- Check out the ceiling. Peeling paint and stains survive longer than they should because they’re generally out of our eye line. They’ll have a negative influence on the buyer, so fix any issues.
- Declutter like crazy – Jettison everything you don’t need or use. Send unwanted items to a thrift store or put them in the garbage. Clutter makes your home feel smaller, and that has a dramatic impact on how buyers assess the property. If being the perfect homemaker is a challenge because of your busy lifestyle, call in a professional to do a deep clean just before the first buyers are due to come through.
- Let in the light – Move furniture away from the windows. Pull back the curtains and wipe down both sides of the glass panes so grime doesn’t filter the light.
There’s a lot of work in preparing a home for sale. As your neighborhood agent, I would be delighted to assist you in meeting this challenge and giving you the opportunity to find your next dream home.