Selling a home has never really been an easy task. There are always updates to be done, and furniture staging and storage taking place. However, selling a home in the current buyer’s market has become even more difficult and daunting.
But the current buyer’s market doesn’t mean that homeowners need to slash their selling price simply to get their home sold. With a few careful considerations, you can make your home more valuable and more appealing to comparable homes in your own area, allowing it to sell fast without sacrificing value.
Maximize the value of your home with these five considerations:
People want a home that will last without numerous updates constantly having to be done. So if your home needs any updates prior to selling, be sure to use materials that will last when you make those updates.
Also, when deciding what to update, see this list of the top remodels in 2011, directly from a survey the National Association of Home Builders, and what remodels are the favorite of thrifty homeowners.
Out of many popular remodels, bamboo and rubber flooring has been very popular, and makes great kid-friendly flooring options that are incredibly durable and increase the value of a home. Composite deck materials last for decades, look great, and increase curb appeal. While some of these updates may be more expensive, they will increase your home’s value and make it overall more appealing to buyers.
Nearly everyone is concerned with being more environmentally friendly these days whether it is because they want to help the environment or simply save on utilities. Regardless of why prospective homebuyers wish to go green, you as a seller need to always keep eco-friendliness on the forefront of your mind during all updates and repairs.
Low-flow showerheads and water efficient toilets also make good selling points for those interested in water conservation. Energy Star appliances are highly sought after by homebuyers, and reduce energy consumption, which is an additional selling point. Proper insulation and properly sealed windows and doors also make a home more energy efficient, which can make a home more enticing.
While throwing in appliances to make your home sell quicker can be a nice gesture, if your refrigerator and stove are from several decades ago, the potential buyers are just going to see your appliances as additional junk they have to get rid of and replace. Also, if you are going to replace other minor items in your home, such as faucets and doorknobs, choose modern looking features, not older, economic styles. They will only make your home look outdated.
If you are going to add in appliances, make sure they are newer ones. Not only will buyers be more enticed by them, but you will be able to use them as leverage during closing negotiations. If a buyer wants you to pay closing costs, then you can use the appliances as leverage.
Think About the Little Things
New hardware can make old cabinets pop instead of looking like an eyesore. New faucets can make an older vanity look ten times betters. New light switch and outlet covers can make a home look more clean and fresh.
Little details matter when your home is coming under scrutiny from prospective buyers, so make sure you pay attention to these details too. These types of little updates generally don’t cost much as can be done by you in a few minutes. They will also lead a buyer to believe that you took great care of your home.
Think Curb Appeal
While you are never supposed to judge a book by its cover, there is a good chance that prospective buyers have already made up their mind about your home simply by taking a look at its curb appeal. If your home doesn’t look great on the outside, they just assume that it won’t look great on the inside either.
More on Homes
So before you sell, make sure your siding is up-to-date, that fresh paint is applied, and that all landscaping has been properly done. Most curb appeal updates can be done by you, and can be done in a weekend so there is no reason why curb appeal should go overlooked, especially since it creates a first impression.
While it may require a little extra case and elbow grease on your part, paying attention to the details and installing necessary updates will definitely pay off in the end. Interested homebuyers will notice and appreciate the extra updates, and will be more inclined to pay a few extra dollars for a home that looks like it has been well cared for and won’t cost them a fortune in updates and utilities in the future. So if you are serious about selling, consider the aforementioned to make sure that you optimize your selling power in this buyer’s market.
Chris Birk is the Director of Content and Communications for Veterans United Home Loans, the featured writer for VA Loans Insider and author of The Book on VA Loans: An Essential Guide to Maximizing Your Home Loan Benefits. Connect with Chris on Facebook at VA Loans Insider or on Google+.