Fix What can be seen first
Want to sell your house quickly without putting a lot of money in it to raise its appeal? Here’s some quick fixes to improve the salability of you house, without emptying you bank account.
First and foremost: Clean up. Sounds simple enough, right? But the truth is, if you live in the home for awhile you don’t notice quite a few things that a person would when first walking up to your house.
A beer can in the shrubs, unraked leaves, old newspaper or flyers that were thrown on the lawn are very noticeable to a buyer. Get rid of them and you will immediately give a good impression.
“You'd be surprised at how many people don’t clean up the house for potential buyers," says Christine Barton, a Denver real estate agent. Her advice: When preparing your house for sale, spend your money on the things you can see.
Remember this phrase: Curb Appeal
Curb Appeal is simply the impression the property gives to a person looking at it from the “curb”, usually from their car as they pass and see the for sale sign. Properties with overgrown weeds in the yard, shrubs blocking the windows, a car, boat, or other unused vehicle visible (even in the driveway) detract from the perceived value of a home. Rain gutters hanging down, loose bricks or bricks literally fallen off the structure and lying on the ground. “Bargain hunters love these people”, says Barton, “it allows them to buy a home and spend a weekend getting 10% appreciation on the property with some garbage bags, paper towels and Window cleaner”. She admits it is a lot of work to fix and flip a property, but when you get the extra value from something so easy and inexpensive to start the improvement process, it’s a heck of a bonus.
Repairing and renovating can be as costly as you want. But you want to look at the big return. Replacing a kitchen or bathroom can be a great value add, but don’t go with an expensive custom job relating to your tastes or style. A good mid-range bathroom or kitchen will get you the best return on your investment.
Painting is a must unless it’s brand new. Paint every interior wall and frames (unless they are natural wood and stained). You can replace carpets and vinyl floor cheaply, especially if you install yourself.
According to Harvard Joint Center for Housing Studies, homeowners invested $166 billion on home remodeling in 2001.
Think like a buyer
"You have
to ignore you personal preferences and style”, says Tony English, Owner and
Managing Broker of HQHomes in Littleton. Most people s it buying a home are
looking to move in, and the rest can happen later. Is it clean, is it
functional, and do they like the way it looks is most important. English adds,
“Adding a hot tub or Viking appliances right before you sell is a waste of
money. If you do that when you move in, you get years of use out of it and then
some value on the resale, but installing upscale amenities right before you move
is a losing proposition in anything but the most luxurious homes.”
The most important thing is to get them into the home though which goes back to the original point, clean it up so when they see the front they want to walk in and see the rest.
Spending Wisely
You have a budget you are willing to spend. On
looking at what needs to be done the two expensive items you could improve are
falling brickwork on the front of the house or the some old plumbing could be
replaced. You can see the bricks, so do them first. If the bricks stop someone
from walking into the house to consider the purchase, the plumbing won’t mean a
thing.
Because bad curb appeal can cause buyers to just pass up a house, you should aexterior first. Get the vehicles out of the driveway, yard or side of the house. Prune hedges, trees and shrubs. Paint! Powerwash brick or roof.
When you're trying to decide how to spend remodeling money, seek the advice of an experienced real estate agent who is familiar with your neighborhood. A licensed appraiser should be able to provide guidance, too.