You’ve decided to sell your home, and now your mind is racing with a long “To Do” list.
Before you panic, remember this mantra: “Soap and paint are my friends.” Your home should be neat and in good repair, but major changes aren’t necessary and often won’t pay off.
Focus on a thorough cleaning, a fresh coat of paint, and maybe re-carpeting worn areas. Money spent on these will help boost your selling price.
Just keep in mind, if buyers can’t see your investments, you won’t recoup them, even if you mention it.
Avoid major renovations or replacements – especially these five costly projects:
1
Closets
Buyers may oooh and ahhh over a walk-in closet that could double as a well-organized bedroom, but they won’t pay extra for it. Adding or customizing closets can cost thousands, and while they look impressive, the return on investment isn’t. 2
Room Additions
Unless your home is a two-bedroom/one bath in a neighbourhood of four-bedroom/two bath homes, don’t waste your time, sanity or money on adding rooms.
There’s no way to predict a buyer’s preferences, so it is best to present the home in the best way possible – using soap, paint and carpet – and leave any remodelling to the new owners.
3
Pool
A pool might attract buyers, but many people are put off by the maintenance it requires.
Buyers who don’t want to spend time over pool upkeep are unlikely to buy a house with one. Pools and their decks are costly, and this expense is rarely recouped in the selling price. However, someone who loves the house might consider adding a pool later.
4
New Roof
Replacing a roof isn’t a good idea for several reasons. Sellers only need a roof that doesn’t leak, and leaky roofs can be easily and inexpensively patched. This makes repairs a better choice.
Additionally, choosing a new roof’s colour and style is subjective; if the buyer doesn’t like it, the cost could be wasted.
5
Major Renovations to Kitchen and Bathroom
Remember the mantra? Soap and paint are my friends. Major renovations can be costly and involve choices about style, colours, and brands.
Instead of remodelling, experts recommend lowering the asking price to account for outdated kitchens and bathrooms, letting buyers handle those projects.
Now that we’ve set aside major projects, we can focus on cleaning, painting, and carpeting. Aim to do the least amount of fixing up needed to achieve the maximum selling price.
Spend a Little, Get a Lot
✅ If your stove has drip trays, replace them. They are inexpensive, easy to install, and improve the appearance of the appliance.
✅ Clean all window sills regularly. A dirty sill will overshadow a sparkling window.
✅ To create a feeling of space during showings, leave all interior doors open.
✅ Hard water deposits on sinks and tubs can be removed with a fine pumice stone such as the ones used to remove mineral deposits from the side of swimming pools.
✅ To rid your oven of odour after cleaning, place orange peelings on a rack inside the oven. Turn the oven to 350 degrees and let the citrus smell fill the room.
✅ To remove old paint from ornate turnings, dip twine into paint remover, hold by both ends and pull back and forth between crevices.
✅ If you have more than two cars in your driveway, park the extra vehicles at a neighbour’s house. This will give your driveway and yard a spacious look.
✅ Oil and rust stains can be removed from concrete with commercial driveway cleaners that are available from automotive and home improvement stores.
✅ The basement needn’t be spotless, but change light bulbs and clear cobwebs before showing the house.
✅ To eliminate residing odours from a room, use deodorizer, potpourri, carpet freshener, or cedar chips to freshen the area.
How To Avoid The Most Expensive Mistakes Smart People Make When They Sell A Home…
Mistake #9: Refusing to Make Profit Producing Repairs
It always costs you more money to sell ‘as is’ than to make repairs that will increase value. Even minor improvements will often yield three to five times the repair cost at the time of sale. Your agent will be able to point out what repairs will significantly increase the value of your home. Seemingly small fix up jobs can have quite an impact.
Want early access to serious buyers?
If you’re going to be moving in the next six months, what you might not realize is that there are a significant number of buyers searching for homes like yours.
In fact, for every buyer actively viewing homes right now, there are 5-10 more about to begin their search, or eagerly waiting for the perfect property to come up.
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