How To Maximize The Resale Value Of Your Home
There are a few things to consider, when selling a home, that will help you maximize your potential for a better sales price. Seasoned real estate professionals are one of your best resources for these tips.
The Buyer’s First Impression Is Emotional
The first goal is to improve the buyer’s first impression when they see photos or a video of the home, do a drive-by, or make an appointment to view the home. Work with a real estate agent on staging the home and pay particular attention to curb appeal.
Staging means that a home has no clutter. Remove any personal items (family photos, toys, pets, etc.). Make closets less than one-third full. Make sure the home is immaculately clean. Use nice decor and minimal furniture.
Logical Backup For The Buyer’s Emotions
Once a buyer has a positive emotional reaction to the home, then to cement the deal at a good price, offer logical backup to support the emotional reaction. Create a handout that lists the amenities and positive attributes of living in the neighborhood, such as good schools. If possible, sell the neighborhood and the community along with the home.
Answer a buyer’s, often unspoken, question of “Why should I live in this area?”
Like-New Condition
Homes that are in perfect condition usually sell for a premium price and may attract multiple purchase offers. Make any repairs that are necessary to ensure all the systems in the home are in working order.
Another confidence builder for a buyer is when the seller reimburses the fees for the inspections needed, from the escrow closing. Let the buyer choose the inspection companies from a pre-approved list that is acceptable for the seller.
Kitchen and master bathroom upgrades usually have a positive impact on the sales price. New appliances can be included in the sale and covered by a home warranty.
Go Green
Homes that are energy efficient and have an alternative energy system, such as solar, are usually more desirable. This is especially true in parts of the country where the monthly utility bills are very high. Add information about the savings on the monthly utility bills, when compared to other homes that are not green, to the home’s selling brochure.
Summary
Top-selling real estate agents know that homes with these characteristics usually command the best prices, receive more offers, and spend less time for sale on the market. Another benefit is that agents get excited about listing high quality homes. They typically feature them prominently in their listings from the agency, on their website, and in all other marketing efforts.
If you are in the market for a new home or interested in refinancing your current property, be sure to contact your trusted home mortgage professional.