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8 Proven Ways To Increase The Resale Value Of Your Home
Heed these 8 suggestions from real estate pros to ensure your property gets the highest possible price.
Little things mean a lot when it comes to selling your home and getting a great price for it. But if everything counts and you have only so much time and money to invest, how do you know where to start to get your home for-sale ready and to fetch the best price?
The good folks at Consumer Reports National Research Center set out to answer just that, with an online survey of 303 real estate professionals from around the country.
As we head into the hottest selling season and with 5.3 million homes expected to change hands this year, use some or all of these strategies to help you leverage all you can against the competition.
Stage and declutter your home
Clean it up!
Enhance your curb appeal
Pay attention to details
Refresh your kitchen and bath
Invest in good photos
Don’t DIY everything
Try not to take it personally
One of the panel members Consumer Reports consulted was the former executive producer for This Old House, Massachusetts realtor and renovation consultant, Bruce Irving. Bruce was previously interviewed by Oprah protégé, Nate Berkus, and The New York Times called him “the house whisperer.”
“Do all the work necessary to make your property look good, not through expensive changes but through excellent staging,” says Irving. “Your agent should be able to provide proper advice and even bring in a professional.”
That means clearing out your clutter.
“I have a gal who I send into listings to declutter and depersonalize for sellers and just tidy things up using the sellers’ own possessions for the most part,” says Karen Wallace, an agent with Lyon Real Estate, located in Auburn, CA.
Tara Miller of Tarabell’s Designs in Portland, OR, does just that: she helps homeowners and agents stage their houses for maximum sales appeal.
Miller points out that people who don’t keep up on needed repairs end up spending the most when it comes time to prepare a home for sale.
“It’s remarkable what regular home maintenance, cleanliness, and minimizing clutter in your everyday life can do for you when it comes time to sell.”
She also notes that staging a home is very different from designing or decorating. “It’s a tough thought, but not everyone likes your pets, hobbies, sports teams, or religion.”
“If it’s dirty, it will not sell — even if it’s a great place,” says Kathy Partak, a realtor with Select Estate Properties in Auburn, CA.
In fact, most of the agents we spoke to focused on overall cleanliness and space as the biggest factor in selling your home.
And cleanliness pays off, according to Consumer Reports: cleaning can deliver a 3% to 5% return on investment, and this is something you can do yourself.
When showing your home, Irving adds, “Raise window blinds, lower toilet seats — make sure the place looks at least as good as it would if you were having your boss over for dinner.”
First impressions sell your home. As soon as a potential buyer drives up to your house, they’re making judgments — and a messy yard or a broken mailbox could cost you.
“Exterior space is ‘free’ extra square footage and is so appealing to buyers,” says Wallace. “It pays to enhance it.”
But if your staging budget doesn’t include the outdoors, Partak suggests making the most of the walk from the car to the entry.
“Make it look nice from the curb with some easy potted or planted flowers to trim the walkway.”
The details that you may believe are insignificant can turn out to be major selling points for your home. For Irving that includes everything from paint touch-ups throughout the house to a full redo of public rooms.
“Wash your windows, replace compact fluorescent bulbs with incandescent or halogen, and remove or minimize personal photographs,” he says.
If you have a small budget, Partak suggests upgrading to energy-efficient windows, and adding new appliances in the kitchen. “These are always the things that bring in more money.”
Don’t forget two of the the most important rooms in your home: the kitchen and bathroom. Consumer Reports estimates that you can increase your home’s value by as much as 7% through renovation.
If you don’t have renovations in your budget, Kristen Kohnstamm, principal broker and co-owner of Dunthorpe Properties, a luxury real estate firm in Portland, OR, recommends fresh paint, a low-hanging opportunity to freshen up your space and potentially boost your asking price.
Choose a neutral palette to increase the appeal to as many tastes as possible; buyers need to be able to easily visualize themselves living in the home, and bright colors might turn them off.
“The worst thing you can do is put lots of money into things like carpet, paint, and other aesthetics that a new homeowner will likely want to change,” says Kohnstamm.
Make sure your real estate agent offers great photos that show your home in its best light when it comes time to list. Home buyers seeking a new place to live will see the pictures online before ever making a decision to visit.
And when it comes to open houses and showings, Irving suggests you “absent yourself” because sellers can sometimes get in the way of a sale by taking things too personally.
Irving’s top tip includes a good finger-wagging at people who think they can DIY a home sale and still come out ahead.
“First and foremost, for correct pricing, widest and best marketing, and the highest price, hire a real estate agent,” says Irving.
Kohnstamm cautions first-time sellers to temper their emotions when it comes to the sale of their home. This won’t necessarily increase the value, but will speed up the sale.
“Whatever comments are [made] about your home, they’re never intended as a personal affront. Remember, everyone has different tastes, but clean and well-maintained never goes out of style.”
Image credit: flickr
As a full time Real Estate Broker for the last 20 years. Jeni and her Team have helped hundreds of home owners in Colorado buy and sell their homes. Jeni's attention to detail and desire to help her clients plus her depth of knowledge of the market has made her and her team a Top Producer in the Colorado market. Jeni is always willing to go the extra mile to help her clients accomplish their real estate goals. Jeni and her Team are here to help assist you with allyour buying and selling needs. Call Jeni today at 303-475-3880, or text Jenivo to 85733
Hello! My name is Jeni. As a Colorado native, I am proud to say that I know the Colorado Real Estate market very well. I have enjoyed an extensive & rewarding career in Real Estate for over twenty ye....