Find Out What Repairs And Fix-Ups You SHOULD Be Doing Before Selling
Often people call me up to list their home and say "I've just installed brand new carpet throughout my home" with the intention of course of increasing their home's value. After questioning, I find they just installed it over reasonably good hardwood floors! Or they've stripped off all the shingles and reroofed the entire house when it was only the front porch that needed some repairs.
The problem with that is they now expect to regain that money they've spent back again on the sale price. Rarely will they get back dollar-for-dollar in this situation but rather 50 cents or less on the dollar spent!
The solution... do ONLY cosmetic repairs which enhance the value (or perception of value) in the eyes of the purchaser.
The Four Critical Principles To Maximizing Your Sale Price
There are four critical principles... Pricing, Presentation, Promotion and Negotiation... which will ensure that you get the highest price possible for your house or condo. The first principle... Pricing... should be done in conjunction with your Realtor. The third and fourth principles, Promotion and Negotiation, rest entirely on the Realtor to provide. Quite simply, the better the promotion for your home AND the better negotiator your Realtor is, the HIGHER the sales price you'll get. Although the responsibility for carrying out the second principle, Property Presentation, rests exclusively on the homeowner, it should NOT be done without some coaching from an experienced Realtor who knows what cosmetically-improved features are most likely to attract a buyer and entice them to pay a higher price!
Proper Presentation IS Critical...
After years of helping homeowners maxize their sales price, I realize how important proper presentation of your home really is!
Why is it so important? There are three reasons...
- First, most buyers have NO experience in fixing up a home, however minor those repairs are. They often can't "see through the dust" as it were to visualize how your home might look once it has been fixed up. The problem with that is buyers tend to exagerate the extent of the repairs and attach a 'price tag' which is often 3-4 times what the actual fix-up cost really is. Therefore they've effectively REDUCED the value of your home in their mind by several thousands of dollars!
- Second, quite a few home purchasers are buying with a limited down payment and are 'scrapping' their pockets for the closing costs. These buyers just DON'T have the cash to do repairs or fix-ups once they move in.
- Third, singles and couples these days are often working many hours in their careers. Once they do get home, the last thing they want to do is pick up a paint brush or a hammer.
This is why COSMETICALLY ENHANCED homes always sell for more money and in a shorter time!
How Do I Advise My Clients
So, where does this leave us? I offer to come by your house or condo before you're ready to market your home (well before if possible) and do my unique Room-By-Room Review... a walk-thru of every interior room and around the exterior to discover the areas which I can cosmetically enhance to catch (or avoid catching) the buyer's eye.
I'll create a cosmetic fix-up list that you can either do yourself OR I can even recommend a couple of 'handy-men' contractors who specialize in getting a home ready for sale.
Would you like to know more?
If you would like to know more, just send me a message using the contact form.