Tuesday, April 10, 2018

How much does it cost to prepare my home to sell on the market?

How much does it cost to prepare my home to sell on the market?

Overlooked and misunderstood, homeowners place their homes on the market unprepared for prospective buyers who are willing to pay top dollar.

The misconception comes in with sellers being so caught up with the hype of the current sellers market, where they feel as if they can just list and their home will sell as fast and high as their neighbors... Unfortunately, that is furthest from the case.

Before we dive into this, lets talk about the factors that go into home pricing:

  1. Location
  2. Condition
  3. Market
  4. Marketing

Preparation truly being key. You see, according to Inman, 78% of homeowners invest roughly $5,000 on average across the country on preparing their home for sale. The costs include but are not limited to, painting, staging, moving, etc.

There are a few vital areas that 99% of sellers and agents don't think of. The following items will offer a strong return on investment, as well as satisfied buyers and banks. Follow these steps for a successful sale.
  1. Aside from making sure to declutter and depersonalize, make sure that you thoroughly clean your property. Here are the major areas to cover!
    1. Front entrance walkway. Are there cobwebs around the lights? Does the home need to be power washed? Overgrowth around the front of the home?
    2. Floors! Is there dog hair or dust bunnies on your floor? In the corners of the floor? Stuck in-between hardwood surfaces? Make sure that your floors shine clean! 
    3. Bathrooms! Is there mold in the bathrooms? Odor? Are the fixtures shiny and clean? Make sure the bathroom smells fresh and sparkles! 
    4. A clean kitchen represents the overall health of a home. Are there grease marks and hand prints all over your cabinets? Did you forget to take out the trash? Dishes in the sink? Make sure your kitchen is clean and clear and ready for a buyer to fire up their imagination on what they can conjure up for their guests in your amazing kitchen! 
    5. Utility areas need to be cleared for easy home inspection as well as buyer access. 
  2. Can buyers get financing on your home? FHA, VA, Rhode Island Housing and USDA all require that the property be safe for an individual to move into! In brief, make sure to figure this out before you list.                                                                                                                                                                         An experienced real estate agent and pre list home inspection from a reputable home inspector can assist with helping you identify what the property can not have:
    1. Chipping and peeling paint on the exterior or interior. 
    2. Broken windows
    3. Missing handrailings
    4. Broken heating system
    5. and many other items
  3. Fix the red flags and disclose everything else! Buyers ask for $3 worth of concessions or repair credits for every actual $1 worth of repairs. When you price your home appropriately for the work that is left over after doing a pre list home inspection and disclose what needs to be done, buyers sign off on the disclsoures and accept the work needed when they place their initial offer. 

1 comment:

  1. Very informative and impressive post you have written, this is quite interesting and i have went through it completely, an upgraded information is shared, keep sharing such valuable information. Auction Bidding Service