Often, I am brought in to work with a Client who is thinking about putting their home on the market in perhaps the not-too-distant future.
The Client typically is aiming at picking my brain in terms of what they can do to maximize the value of their home as cost-efficiently as possible in order to sell their home for as much as they can get, as quickly as they can sell it for when they decide to pull the trigger on selling it.
Many times Clients believe that upgrading their Kitchen or Bathroom is going to add an immediate large sum value to what they are hoping to sell their home for.
Unfortunately for them, plunging a lot of resources in to remodeling a Kitchen or Bathroom does not guarantee that you will net a huge positive gain in doing so.
Furthermore, many times the people that end up buying the home may very well elect to demo the Kitchen and/or Bathroom areas in their entirety in order to more appropriately align them with their own tastes.
I believe, based on my experience, that there are quite a number of things that can help make the sale happen quicker and at the same time increase the profit on the transaction.
Here is a quick list:
- Eliminate all signs of water staining (#1 red flag…)
- Eliminate any mold that might be visible around the home
- Wash the exterior of your home
- Eliminate any peeling paint on both the exterior & interior of your home
- Eliminate any “loud” paint colored areas (neon green walls, etc.) with more neutral colors
- Do some simple landscaping (eliminate weeds, cut the lawn, trim the hedges, etc.)
- Neutralize any leaky gutters
- Perform minor interior maintenance (repair broken cabinetry, fix that dangling toilet paper holder, etc.)
- Clean the inside & outside of your window glass
- Get rid of clutter
A good number of these items may not cost you anything to do, while some of them you may need the assistance from a professional with.
Whatever the case may be, it is definitely important to put some thought into what you may be contemplating doing to your home in order to help with the sales process.
The one question I suggest asking to yourself when trying to figure out whether or not to do something would be,
“Does doing this either increase the margin that will be made on the home or does it help speed up the sales process?”
I really do think it is as simple as that !