Buyers are savvy and they know what they want. Millennial buyers make up the largest pool of home buyers (38%) according to National Association of REALTORS®. They’re looking for move-in ready homes and want to avoid significant repairs. Even with low inventory, buyers are looking for the best, so a home for sale can easily slip through the cracks if it's not in good condition.
♦39% of all buyers bought a new home to avoid renovations or problems with plumbing or electricity, according to the 2020 NAR Home Buyer and Seller Generational Trends
♦35% of all buyers considered heating and cooling costs “very important”
Money spent on repairs can affect the final sales price for an important reason. Buyers tend to overestimate the cost of performing repairs and will often reduce their offer by a higher amount to compensate for the expense. Simple repairs can make a difference in the marketability and sales price of your home.
Whether your home needs modest improvements or just sprucing up, get your home noticed and boost its perceived value with these tips:
Consider getting a home inspection. Buyers will have a home inspection done before agreeing to purchase the property. The advantage in getting a pre-listing inspection is that it allows you to get ahead of any issues before ever listing the property for sale.
Make repairs. An unkempt home will give the impression of uncaring owners who may have missed regular maintenance of items that shouldn’t have be neglected. Simple repairs that make a huge difference in marketability and offer price are:
♦Replace cracked windows and torn screens.
♦Fix or replace any broken stairs or handrails.
♦Fix leaking plumbing fixtures of faucets.
♦Replace exterior lock sets and garage door openers if damaged.
♦Replace broken or leaking gutters and downspouts.
♦Clean, repair, or replace the roof.
♦Repair or replace any worn boards on decks or porches.
♦Have your heater and air conditioning units serviced and filters replaced.
Remodeling Magazine’s 2021 Cost vs. Value Report for Raleigh NC lists replacing siding, garage doors, and manufactured stone veneer, entry doors, and windows as the top updates with the greatest return on investment.
Improve your landscaping. Refresh landscaping by trimming bushes, weeding, eliminating dead shrubs/trees, and manicuring the lawn.
Consider modest updates. According to the National Association of Realtors, when it comes to certain interior features, many buyers are willing to pay more to have them included. When making updates, consider these options:
♦Energy-efficient Home Features
♦Updated Stainless-Steel Kitchen Appliances
♦Kitchen Island
♦EnSuite Master Bath
♦Hardwood Floors
♦Granite Countertops
Clean the outside. Be sure to clean the gutters and pressure wash your home's siding. An untidy exterior may alert buyers that perhaps you've slacked off on interior maintenance as well. Don’t forget your mailbox! Check to see if it needs painting or replaced.
Spruce up the front door. Enhance the entry with a fresh coat of on-trend paint color for the front door, and update or clean all outdoor light fixtures. Finish with a colorful welcome mat, fresh wreath, and seasonal potted plants.
Remove clutter and depersonalize. Prospective buyers will want to envision living in your home. If necessary, rent a storage unit for extra furniture and personal items.
Making sure your home is in tip-top condition will provide you the maximum exposure to potential buyers. Increased exposure in the market allows the greatest opportunity for you to realize your highest net return. Renovations that Pay Off When Selling
Need Help? Consult on Home Selling Strategies
Advising sellers on whether improvements are beneficial for them when selling, is information I provide all my sellers. When making updates, understanding what improvements yield the best ROI, while not over-improving for the neighborhood or market conditions, will assure you top dollar while not spending money needlessly.
Still not sure how to proceed? Call me...I'd love to help!
Mobile: 919-675-5366
E-Mail: Jean.Scott@kw.com
Two Locations to Better Serve You:
Raleigh: 4700 Homewood Ct., Suite 200, Raleigh, NC 27609
Wake Forest: 1744 Heritage Center Dr., Suite 201, Wake Forest, NC 27587
