Homeowners, thinking about selling your home?
The spring selling season is upon us, and while it's traditionally the busiest time of year for real estate, this spring maybe just as competitive as this time last year. With ultra-tight inventory and continually increasing home prices, it’s imperative that a home seller get there home as ready as they can to attract more home buyers. At a time like this when there are so few houses for sale this may be the best time to get your house in the market and get top dollar. Even though the real estate market is showing signs of it cooling down, it is still a seller's market right now, we are still facing a shortage of homes for buyers. With inventory still low, homeowners who are planning on putting their home on the market should focus on what a buyer is looking for. While home mortgage interest rates continue to climb, there has been less home buyers these days, so it would be wise for a home seller to get all their ducks in a row before they get their house on the market.
Most folks considering listing their homes know it’s a seller’s market and considering all the home values have been sky rocking these days, homeownership is proving to be quite the investment. There are benefits such as appreciate over time, home equity, and even tax deductions. And in a market like this, with wildly competitive open houses, sky-high prices, and ever-escalating offers. I get it, why not add an extra touch to make your home stand out even more?
Home sellers let’s aim for top dollar!
Home sellers it is time to come out of that sluggishness mentality and get that house ready to get on the market. Inman points out that according to Zillow research it shows that 73% of homeowners make at least one improvement before selling. Are you wondering what improvements are the right ones to consider? After all, the goal is to get top dollar? Inman gives you nine home improvements that can make your listings shine in the eyes of today’s home buyers.
Home selling tips. Sell a home faster in this real estate market
Home sellers, consider these improvements that buyers really appreciate. Inman, mentions to
Create spa-inspired bathrooms, the basic or more general standard bathrooms are out. It is the "Spa-like touches" that are in. Homeowners seems to be more impressed by bathrooms that show off their potential as self-care centers vs the basic bathrooms. So, home sellers, make a point to create the sense of calm that home buyers seek by revisiting outdated tile, and swapping out the vanities for elegant, furniture-style vanities instead. Or even making some hardware swaps and staging for self-care. Also,
Give buyers peace-of-mind. Homebuyers have indicated that they want to avoid renovations and problems with plumbing and electricity for years. This is the top reason buyers choose to buy new. Furthermore, with the lack of control we’ve all felt throughout the duration of the pandemic, consumers are seeking control. While wear and tear of homes is entirely normal, signs of it will undoubtedly result in lower offers. Prospective buyers will find themselves wondering about how well the home has been maintained and think about the potential repairs and replacements they’ll need to make room for in their budgets.
Fortunately, Inman mentions that there are three simple fixes for standard wear and tear. One of them being,
Address deferred maintenance: There are many issues that current homeowners are willing to live with that would send potential buyers running for the hills. Take care of any necessary repairs to ensure you don’t receive low-ball offers—that could upset your sellers.
Another is applying a fresh coat of paint. Something so simple like a fresh coat of paint is known to be one of the most basic pre-listing updates, and this should always be recommended. Most homeowners know that "over time, walls get scuffed, scraped, and sometimes even drawn all over". Just applying a fresh coat of paint before selling can be a very easy fix and can make the entire home feel newer and some can say even bigger.
Finally, the last one that Inman mentions is replacing or refinish worn-down flooring.
Hardwood floors get worn down over time, but can easily be refinished. Carpet in high traffic areas can become worn or stained. In some cases, simply deep cleaning carpet is enough. In other cases, it makes sense to replace the carpet—either with more carpet or a flooring option more suitable for today’s buyers.
Sellers, what about curb appeal?
We all know it is springtime now, so home buyers will naturally focus on the inside but also the outside as well. Or at least consider taking a tour around the outside of the home while the weather is holding up these days. So why not make the outside of the home stand out just as much as the inside? Make a point to make the outside shine as much as the inside and consider refreshing the curb appeal.
You want to make a point to look at the property from the front and take note of anything that "doesn’t look picture perfect. From landscaping to painting the exterior of the home, improving a home’s curb appeal is key" and "...many buyers imagine spring gardening, summer cookouts, and fall fire pit nights. This makes sprucing up and staging a property’ exteriors prior to listing incredibly important". After all, the goal for a home seller to make a point to stand out in a good way in this market.
As much time as a home seller is making a point to stage the inside, stage the outside as well. After all, with it being spring, home buyers are imagining themselves outside just as much as the inside. Doing something like cleaning up and staging the backyards to inspire outdoor living can have more buyers drooling over your property. In return, have the buyer more eager put in a great offer.
Finally, home sellers, focus on what buyers care about most. There are main living areas, in which home buyers spend most of their time. This can't be ignored when preparing a home for the market. Show off these spaces’ capabilities by making them shine through simple updates and staging. Places like the family room, and the kitchen. The kitchen is considered to be the "heart of the home and a huge focal point for home buyers".
A recent blog I wrote, home renovations that are not benefiting your home value I mentioned that the kitchen is by far one of the better investments when doing home renovations. And that it can even increase your home value. But you don’t always have to do intense renos to get a good reaction out of buyers. It is very important to focus on places in the kitchen that are outdated, like kitchen cabinets, for example. Focus more on buying good quality paint and repainting cabinets that will provide a look that lasts as long as new cabinets. Consider warm and inviting colors like white, greys, or consider a slate, soft grey-blue feel. These are some great colors that are not only in style not but appealing to a buyers' eye. Or, change the handles to give the kitchen a more updated feel. Some benefits of repainting your kitchen cabinets would be less expensive than replacing them, and it gives a whole new look and feel at an affordable cost. And considering the help that you may get; it can take a significantly less amount of time than it would if you hire someone to do a larger renovation
There you have it, some pre-listing home updates for spring 2022. Happy home selling!!!