Selling your home should be a journey to be the best priced home, and give your buyer the most value for the money. It shouldn’t be a race to see how much you can get for it. Even if you have to sell, getting the best price should be your aim. So how do you get the best priced home and give your buyer the most value for the money? Make sure your property is up to date, clean and staged. Trying to sell a property that is outdated, grungy and a mess won’t get you top dollar.
The first place to look to is your systems. Major systems include plumbing, heating, electrical and sewer/septic systems. Oh, and the roof. If all of these are in good shape, then turn to other things that are known to bring a good return on your investment. One area with an almost 72% return are things like replacing the garage door, updating the siding, doors and windows. With windows and siding, the home becomes more efficient, lowering energy bills which definitely appeals to buyers. When selling your home these areas can help you be the best priced home on the market and give the most value for the money to your buyers.
If you have attic space or unfinished basement space, consider finishing it. Doing so gives more living area, bedrooms and has an ROI of about 72%. And consider this, for every 1000 square feet of added living space raises your home’s value by about 3.3% (per the National Associate of Realtors) and might add as much as 4% by adding an additional bedroom. For a $200,000 home, that’s an additional $8,000!
Adding a bath can add either 10.5% for a half bath or as much as 20% for a full one. If you can’t add one, then update your existing one with new fixtures and some paint. The update will be inexpensive, but make the room look new. Same with your kitchen. A gut and replace is expensive, but updating dated vinyl flooring to laminate or tile, new cabinets or cabinet fronts and sink fixtures will make it look new and bring in more money. Consider these ideas when selling your home.
Storage adds money as well. Adding closets or storage options is never a waste of money. Buyers also like alarm systems, water filtration or softener systems (depending on your needs) and updated appliances.
If you are selling your home talk to your Realtor and find out where to spend to do updates. If done correctly a little money spent will be paid back in spades. You will have the best priced home on the market and give the most value for the money.