If you’ve made the decision to sell your home, take the time to ensure that it is properly prepared for the real estate market. Every “minor” repair that goes untended is a “bargaining chip” against the asking price of your home.
By investing a small amount of your time, energy and money prior to listing, you can significantly increase the value of your home.
Ways to increase the value of your home #1
Is your curb appealing?
It’s important to remember that you only have one chance to make a great first impression and the best place to start is at the curb.
If the exterior of your home and the surrounding property cries for attention you are at risk of lowering the “perceived value” of your home. Put yourself in the homebuyer’s shoes: if the shingles are cracked and curling, the windows need replacing and the panes and shutters require painting, and the front walk is weed infested and cracked, all these things translate into a significant investment of time, energy and money.
Remember those “bargaining chips”! A well-maintained exterior space is valuable to a potential buyer and alludes to a well maintained and valuable indoor space.
Ways to increase the value of your home #2
Does your home smell pleasant?
The next time you enter your home; give it the “sniff test”. Do you detect any odd or unpleasant odors? The sense of smell is the strongest of our senses and not only creates a first impression but a lasting one!
If you are a pet owner you will want to pay particular attention to the areas where your pet spends time. Soft surfaces such as carpet and upholstery hold a lot of odours that a mere can of odour-eliminating spray cannot begin to address.
From a homebuyer’s perspective, consider the cost involved in replacing carpet. Prior to listing, invest in the services of a carpet cleaning company, or, if the carpet is especially worn or soiled, consider replacing it; the return on your investment (ROI) will be worth it and your listing will look great with “new carpet” in the write-up.
Don’t forget to “test” the basement, kitchen, closets and especially the bathroom!
Ways to increase the value of your home #3
Have you de-cluttered?
In some cases we end up with more “stuff” than is necessary and then it becomes what we refer to as “clutter”. Don’t allow your “stuff” to distract a potential buyer from the value of your home.
Rent an off-site storage unit or temporarily store your items in a friend’s garage or basement.
De-cluttering is a strategy that is valuable to both homebuyers and home sellers: the buyer perceives the home as open, airy and spacious while the seller gets a head-start on packing and alleviates some of the stress involved in keeping the home in order while showing it to potential buyers!
Ways to increase the value of your home #4
Have you maximized your space?
Creating visual space adds value to a home. Regardless if your target market is a single person, first-time homebuyer or a family; space is a precious commodity.
By reducing the amount of furniture and accessories in a room, you create the impression of more space. Proper use of space and appropriate furniture placement can be invaluable.
Dedicating your space according to purpose is also important. Some homeowners allocate an extra bedroom as a home office and, in itself, there is absolutely nothing wrong with that. However; you don’t want to risk a potential homebuyer walking away from your listing thinking, That was a really nice home, too bad it didn’t have one more bedroom.
Allow a prospective homebuyer the opportunity to envision that extra room as it would suit their needs as opposed to dictating it.
Ways to increase the value of your home #5
Have you neutralized your home?
When preparing to sell your home, imagine yourself as a potential buyer. Your goal is to make your home appeal to as many people as possible. Neutralizing paint and décor adds value to a home because it enables a prospective buyer to easily imagine their own furnishings and accessories in the space.
If you have a rainbow of different colors in every room, it’s time to neutralize! This does not mean you have to paint everything beige. Webster’s Dictionary defines the beige as “lacking distinction”, and that is not the impression you want to make!
Instant value is added to a home that has been freshly painted and using neutral colors is recommended. A master bedroom, for example, is a very personal space. If it is painted a deep red colour, it may look stunning with the existing bedding; however, a specific colour limits a potential buyer to imagine the space as their own.
Choose a lighter, neutral colour that already exists in the bedding or upholstery to neutralize the space. In some cases, where furniture and bedding are very bold, dated or worn, it’s beneficial to invest in slipcovers, a new comforter or window treatments in order to neutralize. Don’t distract a potential homebuyer from the true beauty of the home.
Increase the value of your home easily
Statistics show that homes that have been properly prepared prior to listing sell faster and for more money! By taking care of the little things, you create that “move-in ready” appearance that real estate shoppers are looking for.
Potential homebuyers will not have the chance to become bogged down with a mental list of repairs and improvements and therefore, will not be able to chip away at your bottom line!