Sprucing up a house to make it appeal to potential buyers before selling is common knowledge. Most people wouldn’t dream of having someone come through without at least a thorough cleaning and scrubbing and perhaps a few renovations.Â
The question is, how far do you need to go in today’s market, and is there ever such a thing as “too much?” In this post, we’ll talk about how to prepare your house for the maximum impact and the least amount of effort and investment.
What decor trends are capturing buyers’ attention in today’s market? Find out in What Are the Interior Colour and Décor Trends This Year?
Risks and Advantages of Listing As-Is
The nice thing about selling a house as-is is that you can get to market quickly, and there’s less stress and work involved. You’ll still need to clean and declutter at some point so you can move out and the buyer can take possession. However, there’s less urgency, and no worrying about what colour to paint or whether you should replace the kitchen backsplash.
The downside is that listing your home as-is can mean sacrificing results, especially if there are repairs and necessary upgrades you never found the time for. Many buyers want a house they can move into and begin building a life in right away. A furnace or roof that needs urgent, expensive repairs can make your home less appealing. In a slower market where they have plenty of other options, you might end up selling for less than fair market value – or not at all.
On the other hand, if you live in a home that is on the newer side or you have been particularly meticulous about maintenance, you might be able to list with very little preparation.
Understanding the current climate will help you form a winning home preparation and selling strategy. Here’s Why This Market Feels Different (And What’s Starting to Change).
The Downsides of Over-Preparing Your Home
On the opposite side of the spectrum, there are sellers who believe that a house has to be absolutely picture perfect in every way before they’ll even consider putting it on the market. They’ll remodel the kitchen, gut the bathrooms, tear down a wall between bedrooms to create one giant primary room (or divide one large room into two separate bedrooms), and invest in breathtaking yet over-the-top landscaping. A homeowner who really goes overboard might even add an entire new addition to the house!
There are potentially a few problems with over-preparing your home. First of all, think of how long it will take to complete every project, not to mention how much it will cost.
Secondly, you have to ask yourself, will a buyer even like what you’ve done? All too often, a seller will invest untold amounts of money in home improvements, and they look spectacular – just not to the buyer’s taste.
If that happens, not only do you not earn your investment back, but the buyer might try to negotiate a lower price to undo all of your hard work.
Thirdly, take a look at other homes close to you. Use the local real estate board to research how much houses in your area typically sell for. Remember that you are unlikely to significantly outperform those numbers, which is why overbuilding very rarely, if ever, shows a positive return on investment.
The kitchen is one room that really matters to buyers who are searching for a home today. Should you renovate? Find out in How to Maximize Kitchen Renovation ROI.
Striking the Perfect Balance
Getting the best results for the market requires research, or, even better, years of experience and insight as to what home improvement projects have the most impact on a potential buyer.
Anyone coming through your home is on the lookout for two things:
- They want a house they can imagine being happy in for many years.
- They want to make a smart financial investment where they feel as though they are getting excellent value for their purchase.
Your home should be tastefully updated, spotlessly cleaned, with every piece of unnecessary clutter removed so there are no distractions. However, you do not need to make every upgrade for the buyer. In fact, they’ll usually want to make many of these decisions for themselves.
The goal of your home preparation is simply to help them see everything your house could become once they take possession. When they’re mentally placing their artwork on the walls and deciding what colour to paint the living room, you are well on your way to a successful transaction. Remembering that perfection is not required can allow you to enjoy peace of mind throughout the process.
Expert guidance is the key to a successful transaction in any market. Learn more in Why Sell Your Home With The Peggy Hill Team.
A Stress-Free Experience With an Outstanding Outcome
Deciding what repairs to make in this market and what to leave for the new owner is one of the most stressful aspects of a home sale. Every buyer is different, and trends change, sometimes faster than the weather report.
Working with an experienced, local, full-service real estate team is your best protection from over or under-preparing your home. A local expert who specializes in your area knows what is working right now. Aligning with a professional means you can enjoy a seamless transition while finding a buyer who will love your house as much as you do.
Do you have questions about living in Barrie or buying or selling a home here? Get in touch with The Peggy Hill Team today at (705) 739-4455 or email info@peggyhill.com. We are happy to help you get started!
