Boost the Value of Your Home

Boost the Value of Your Home

Now is a great time to list your home!

• The housing market is “hottest” from April through June, and the most serious buyers are aware of this and for that reason they begin looking in early spring in order to beat the competition. 

• As the housing inventory grows from spring to summer, listing now will help you to avoid the competition of other properties on the market. 

• One of the biggest obstacles for home sales in 2014 was the increased paperwork required by banks before a mortgage could be approved. As the market heats up banks will be inundated with paperwork causing a slowdown in the approval and funding process. Getting into the market early will help put your buyers ahead of that potential bottleneck.

• Ready to move up to a larger more expensive home? The time for that could be now! Prices are projected to appreciate by over 19% from now until 2018. Additionally with current interest rates at about 4.5% purchasing now could save you money in the long run as rates are projected to be well over 5% by this time next year. 

Now that you’ve decided to list your home, let’s maximize its value and the return on your investment! Let’s get you home ready to sell for the highest price possible!

• First and foremost clearing out the clutter.  Cost ranges for $0 (DIY) or up to $2,500 to have a pro do it for you.
• Key ideas are to make your home feel open, spacious and full of natural light. This might require eliminating furniture from rooms, packing away knick knacks and or reducing the volume of family photos so that the potential buyers can envision their own family filling the warm and inviting spaces of your home. Any potential cost of a storage unit would easily be offset by the potential return of 3 – 5%.

• Updating the Kitchen. Costs can range from $300 - $5,000, with a potential return of 3 – 7%.
• Kitchens sell homes, it’s a well-known fact! However, that doesn’t mean you should dump thousands into a remodel. Focus first on minor repairs that can have a big impact. Making sure the primary fixtures such as lighting and faucets are good working order, as well as making any cosmetic repairs such as a counter top stains or damage, or a sink in need of reglazing. 
•  Once you determined your kitchen is in good working order, think about a gentle spruce up, such as painting the walls, updating cabinet hardware or new window treatments. You’ll be surprised at how a few cosmetic changes can make your kitchen feel fresh and inviting. 
•  If your kitchen is in need of a more substantial updating you may consider new counter tops and flooring which can be done for the $4 - $5,000 price range.

• Freshen up the Bath. An investment of $300 - $1,000 can yield a potential return of 2 – 3%.
• Just as important as the kitchen is the bath. This room speaks to buyers about how your home was kept up and maintained. Easy but effective fixes include caulking the tub or re-grouting the tile.
• Likewise installing new fixtures (Towel bars, faucets, toilets, and the vanity etc.) will give the bath an updated and fresh feel. Don’t feel compelled to replace the entire bath, just look at it with a critical eye and determine what will have the most impact with the smartest investment of time and resources.

• Paint – Selectively. Spending $100 (DIY) - $1,000 (Pro) will give a potential return of 1 – 3%.
• Walk through your home and really look at, this will help you to determine which rooms can be spruced up with a good cleaning and which would benefit from a fresh coat of paint. Be conservative in your approach and only paint the rooms that will have a big impact such as the main living area or perhaps a bedroom that would benefit from a more neutral paint treatment. 
•  Whites and off whites tend to attract the most buyers, a neutral pallet allows potential buyers to focus on the homes attributes and not the color of the walls.

• Curb Appeal, it may sound cliché, but this is your home’s first impression! An investment of $150 - $7,500 can give you a potential return of 2 – 5%. 
•  Start with basic maintenance, i.e. keeping the lawn mowed, trimming overgrown shrubs, and putting down a fresh layer of mulch. 
•  Other cosmetic improvements to consider are power washing the exterior, fixing any siding boards that are not in top condition, and perhaps a fresh coat of paint on your exterior door. The idea is to give your home a fresh clean look without going overboard on spending. 
•  Don’t forget the roof, buyers will ask how old it is, so if that’s something that needs updating or inspection be sure to have that done prior to listing to appease any concerns a buyer may have about the age of your roof.

Small changes can make a big difference in the final sales price of your home, but wise planning is important. Before listing your home I will complete a Market Analysis of your home and make suggestions on changes that can maximize the return on your investment. Call me today so that your home will be in the best possible position to capitalize on the current Seller’s Market climate!