Tips for Preparing Your Home for Sale
The purchase of a new home often depends on selling a current home. When housing demands exceed inventory, a property might sell as-is fairly quickly and above list price. But when it’s a buyer’s market and too much competition, sellers have to make their homes standout or risk getting lost in the shuffle.
If you’re thinking about selling, getting your house ready for prospective buyers may seem like a burden. But prepping your house doesn't necessarily entail a costly renovation. Sometimes, it’s the little fixes that matter the most to buyers.
Here are six ways to make your home shine, which can ultimately increase your profit.
#1. Declutter and De-personalize Your Space
Clutter and too many personal belongings scattered throughout the home can impede a speedy sale. Buyers can’t picture themselves living in the home when there are traces of your personality everywhere. And if they can’t imagine their family in the space, they’ll move onto the next property.
As a rule of thumb, the less of “you” in the space the better. Even if you’ve yet to find another home, begin donating, selling or moving some of your belongings to a storage facility. This includes family pictures, toys and oversized furniture that makes the home feel smaller. Speak with your real estate agent for advice on how to present your home—the interior and exterior—in the best light.
#2. Staging Your Home For Resale
Home staging is a cost-effective way to strengthen your bottom line. This process—which goes a step beyond decluttering, de-personalizing and cleaning—is intended to spruce up your house so that it appeals to the majority of buyers. Professional stagers employ a variety of techniques and use a number of accessories (mirrors, artwork, pillows, baskets, area rugs and other home accents) to accentuate a home’s positive features.
A well-staged home leaves a lasting impression and helps you compete with newer, recently updated homes in your neighborhood. If you can successfully “wow” prospective buyers, you’re likely to receive multiple offers and get more for your property.
#3. Give Every Room a Purpose
Every usable space in your home should have a defined role. In some homes, spare bedrooms, corner nooks and loft areas often become a dumping ground for random junk. Since the objective is to showcase your home’s best assets, get rid of dumping grounds and give these rooms a clear purpose. For example, convert a finished basement or a “junk” room into a guest room, home office, sitting area or exercise room. This trick gives buyers an idea of how to use the space and maximizes your amount of functional square footage.
#4. Open the Curtains
The more light flowing into your home, the cozier and inviting it'll feel. Be sure to open your curtains and mini blinds before each showing, and turn on all interior lights. You can also replace dark, thick window treatments with sheer alternatives to let more natural light stream in. The proper amount of lighting can make a small space feel larger.
#5. Fix Broken Items
If you know something doesn’t work properly, make the repair before potential buyers come to the home. This includes fixing non-working appliances, dripping faucets, cracks in the walls, broken light fixtures, etc. Broken items can turn off buyers, regardless of whether the repair is a simple fix. If a buyer walks through the home and notices several problems or faulty items, he might assume the home is unkept or in poor condition and look elsewhere. Nobody wants to buy into a potentially costly property.
#6. Replace the Paint and Carpet
Carpets and walls can take a beating over the years, but a new coat of paint and new flooring can make an older home look new again. Even if your carpet doesn't need replacing, professional carpet cleaning can remove stains and give it a fresh look. Painting the walls throughout the house is also fairly inexpensive, and it’s a project you can tackle yourself. Make sure you choose neutral colors that agree with most buyers.
There's no telling how long it'll take to sell a property, so it’s important to prepare your home and ensure it can compete with other homes on the market. Plus, the sooner you sell the property, the sooner we can help you find your next mortgage. Cherry Creek Mortgage offers a variety of home loan options to suit your individuals needs. Contact us today to learn about our great rates and specialty mortgage programs.