
One of the most frequent questions that homeowners ask me is: What do I have to do in order to get my home ready to sell?
The answer depends on your willingness and ability to clean, repair and update your home, balanced against how much you intend to profit from the sale. Sure, it's entirely possible to sell a property with an old roof, leaky pipes and hideous flooring. But the sales price, in that case, is going to be far from top dollar.
As the market shifts, both buyers and sellers are adjusting their expectations. The brutally competitive seller's market has given way to more balance, where buyers have time to actually think about the home and whether it truly suits their needs.
As a result, buyers are becoming more choosy when it comes to condition. They are fully aware of the high cost of labor and materials needed for updates, and will take those factors into consideration when making an offer. A home which is need of costly repairs or too many updates is likely to just sit on the market, unless priced accordingly.
So what updates matter the most to buyers? Not surprisingly, some of the costlier repairs are the ones no one wants to inherit when they purchase a home.
Based on my personal experience, here are the top 9 projects that buyers take into consideration when shopping for a new home:
ROOF: If you're not able or willing to address an aging roof before you hit the market, you can be sure that buyers will be gauging its remaining life and replacement cost when making an offer.
SEPTIC: Septic issues terrify most buyers, so it pays to be proactive with your septic system and always keep it well maintained.
FLOORING: What covers your floors matters. Cheap quality laminates, any carpeting other than brand new, or a patchwork from room to room are a big turn-off for most buyers. If your old flooring doesn't deter them from making an offer in the first place, it most certainly will affect the amount they are willing to pay.
BATHROOMS: Cracked tiles, old or dirty fixtures, and outdated vanities are not appealing to anyone, so taking the time to update these is like putting money in the bank.
CABINETS & COUNTER TOPS: While they're strictly cosmetic, the amount of time people spend in the kitchen makes these components high priority for most buyers. If you cannot replace outdated cabinets, refacing them and adding new hardware can make a big impact. And high quality materials like quartz or granite add a huge "wow" factor which can add value to your home.
BASEMENTS: If your basement is unfinished, assuring it is clean, bright, and free from leaks is the best way to keep it from being a deterrent. If it is finished, it should feel welcoming, like the rest of the house, and not an afterthought.
PLUMBING/ELECTRIC: If you had a choice to buy an older house with updated plumbing and electric, or one with old (and potentially hazardous) elements, which would you choose? The potential buyers for your house will feel the same way. Having these basic systems up to code will help with a quicker and smoother sale.
WINDOWS: Old single pane windows make a lot of buyers pause, because replacing them gets expensive, and keeping them costs more in utility bills.
OUTDOOR SPACES: Don't overlook your walkways, patios, decks and landscaping. They are areas which can either help or deter a sale. Making sure they add both curb appeal and functionality is a smart move.
Keeping your home in good repair and modernizing the rooms with good quality finishes are ways you can add appeal and value to your home. Making sure it spotlessly clean and uncluttered will welcome buyers in and allow them to picture themselves living there, which ultimately is what brings the best offers.
Every house is unique, and it can be hard to figure out which areas need the most attention when you are preparing to sell. A pre-listing consultation will help you prioritize your task list in order to maximize your home's sales potential. It's an important first step in the sales process, and one the ways I help my clients achieve the results they desire.