1. SHOWING AVAILABILITY & STAGING
MAKING IT EASIER TO SHOW YOUR HOME TO BUYERS
A study of local homes compared the sales price and time of sale of homes that were vacant/unoccupied versus those that were occupied. Vacant/unoccupied homes sold for approximately 5% more than those that were occupied and sold within half the period required for the occupied homes. Given that the average home in Tempe sells for nearly four hundred thousand dollars, this is a $20,000 differential.
GENERAL STAGING GUIDELINES
Eliminate clutter. Removing knick-knacks and unnecessary furnishings will make your home appear more spacious and attractive. Generally, about half of a seller’s furniture should be removed to make the home appear larger and less cluttered.
Use neutral colors, finishes, and styles. The goal is to have your home be a blank canvas where potential buyers can imagine their own belongings.
Clean or replace all carpets. This relatively inexpensive act makes your home show much more beautifully and has over 100% return on investment.
Remove or open curtains and blinds that block natural light. “Light and bright” homes are cheerful and sought after.
Remove personal items such as photos, postcards, and religious and political material. Otherwise, potential buyers will focus upon who the seller is instead of the house.
KITCHEN:
Studies indicate that buyers consider the kitchen to be the most important area in the home. While a major kitchen remodel may not add more value than its cost, the minor aesthetic improvements suggested below will make your kitchen shine without costing you a great deal:
-De-clutter the kitchen counter tops by removing appliances
-Re-paint dark cabinets with light paint.
-Install new knobs on kitchen cabinets.
-Replace badly worn linoleum floors with a neutral colored flooring.
-Clean fans and vent hoods. BATHROOMS:
-Replace an old towel rack with one of brass or oak. Replace old towels with clean and fluffy towels.
-Place an air freshener in a discreet place.
-Place all bodily care articles out of sight.
-Remove toothbrushes, combs, and grooming supplies from the counter.
-Clean all mirrors, counters, and toilets. Eliminate soap scum, mildew, and stains from bath, sink, and toilets.
2. REPAIRING AND IMPROVING THE RIGHT ITEMS
MAJOR VS. MINOR REPAIRS
Major repairs, such as adding a new patio, adding a room, or completely remodeling your house, generally have under 100% return on investment. The major improvements that come closest to having 100% return on investment are remodeling kitchens and bathrooms and possibly the addition of a new bathroom.
In contrast, minor repairs that improve the appearance of your home can be done with little expense and offer over 100% return on investment. These minor repairs should be undertaken before you sell your home, as you will typically get more money back for each dollar you spend on them.
SOME EXAMPLES OF THESE REPAIRS INCLUDE:
-Replacing all lights bulbs with the highest wattage allowed to bathe the house in light.
-A fresh coat of exterior and interior paint.
-Flowering plants bordering your entryway and by your doorway.
-Trimming hedges.
-Replacement or cleaning of carpets.
HIDDEN IMPROVEMENTS SHOULD BE AVOIDED
Improvements that cannot easily be seen, such as upgrading the electrical or plumbing system will very rarely to never yield anything close to 100% return on investment.
3. REPAIRS IN ANTICIPATION OF THE PROPERTY INSPECTOR
A “clean” property inspection report increases a home’s desirability in the minds of potential buyers, many of whom are too busy to focus upon home improvement. The following repairs will be relatively cheap and result in a higher selling price:
Directing water away from the house’s foundation. The addition of drainage taking water from the downspout and directing it away from the foundation is good for resale and a good preventative measure. Flexible and cheap drain piping is available at Lowes or Home Depot.
-Repair all leaky sinks and toilets.
-Clean the leaves out of roof gutters. This is always mentioned in property inspection reports if it is not done.
-Install multiple smoke alarms and at least one carbon monoxide detector.
4. ENHANCING CURB APPEAL
A buyer’s first impression of your home is the most powerful and lasting. If your home lacks “curb appeal,” potential buyers may continue driving past your home without even entering. The following measures can improve your home’s curb appeal for a small investment of money and time, which will yield large returns. Any improvements done for resale should have over 100% return on investments as the following recommendations do.
LANDSCAPING:
-Plant colorful flowers to spruce up the landscaping.
-Trim bushes away from the house and entryway.
-De-clutter the yard. Store lawn equipment, children’s toys, and other outdoor items.
-Have your lawn cut every week while your home is on the market.
EXTERIOR APPEARANCE:
Repaint the home’s exterior if the paint is over five years old. Painting with a modern neutral color such as light gray, or off-white works well. Painting provides an excellent return on investment.
-Power-wash the exterior if the home was recently painted.
-Clean windows both inside and out to give your home a “light and bright” feeling.
-Install new hardware such as the lock and knob on the front door, if they appear dated.
-In the front of the house, put out a new welcome mat and a clay pot or wooden box filled with blooming flowers.
Landscaping, painting, and the minor improvements mentioned above will improve the potential buyers’ first impression of your home and will generally have a greater than 100% return on investment.