When selling your home, your home is only worth how much someone is willing to pay for it. If your home is clean, functioning and ready for someone else to move in, it will attract more potential buyers who are willing to pay a little extra for “move-in ready”.
If you’re getting ready to put your home on the market, consider these simple ways to increase the value of your home in the eyes of potential buyers. You’ll be surprised at the simple things you can do to attract buyers who are willing to pay for “move-in ready”.
The goal here is to make your home look its best while spending as little as possible. Don’t get carried away with any one area or your costs will run high and you’ll be cutting into profits from your home sale.
Goal: Spend less than $5000 and attract buyers who are willing to pay $10,000-$15,000 more for “move-in ready”
Have A Professional Come Out: Free
If you’re using a real estate agent, they will help guide you with the right steps to make your home sell for the most amount of money. Be sure your agent has YOU in mind and NOT THEM. Remember, a commission for a real estate agent on a home that sells for $400,000 is around $12,000. A commission for $420,000 is $12,600 – only a $600 difference to them and $19,400 for you. Make sure your agent doesn’t want to “expedite” your home sale before you have a chance to make the simple fixes to increase the value of your home.
Deep Clean: $200
Make sure your home is spotless. This includes places most overlooked like the oven, grease on the range hood, baseboards etc. If it’s too much for you, consider hiring a cleaning company for a few hundred dollars to come out and make your house shine. While a super clean home does not literally boost your home’s value as much as other things, it will definitely make a great first impression with the appraiser.
Clutter and clunky furniture makes a home feel small. Less is more when it comes to selling your home, so consider making room in your garage or rent a storage unit for one month and get rid of any extraneous furniture items that make the rooms feel small. If you are using a real estate agent, get some ideas from them.
Only paint the walls that need it, and clean the others if needed. If you have baseboards, definitely paint those. Go through your home and decide which rooms will need paint and which should just be cleaned or left alone. Don’t get too carried away because many new homeowners will decide to paint anyways.
Fixtures, doorknobs, light switches, outlets, and other small repairs: $300
Go around your home and make sure that every little fixture, doorknob, light switch, outlet, etc. are all in tact, clean, and in working order. On their own, these small repairs may not seem important, but those small things will add up to create the impression that your home has been neglected. These are very inexpensive costs that will impress potential buyers and increase the value of your home.
Basic Gardening: $200
For a few hundred dollars, you can hire a gardening service to come out and remove weeds, clean up planters, plant some flowers, throw down some lawn seed + fertilizer, and make the outside area look great and presentable.
Ditch The Popcorn Ceilings: avg. $1500
Popcorn ceilings are very outdated and may contain asbestos. Buyers already know this and can easily be turned away because of potential hazards. It’s recommended that you hire a company to do this because it can get very messy and possibly dangerous. Most companies charge $1-$3 per square foot.
Small Bathroom Upgrades: avg. $2000
One bathroom can be upgraded for around $750 and can add much more value to your home. Make sure to go simple here because you’re just looking to upgrade your bathroom to look new so you can sell your home.
Clean Carpets: $200
Some real estate agents advise against replacing your carpets because those are the first thing new homeowners change. But, at the same time, old dirty carpets are a turn off. Consider hiring a carpet cleaning company for a couple hundred dollars to come out and clean the carpets. Or even better, rent a rug cleaner machine from your local supermarket for under $100 and do it yourself. If you must replace, then replace.
Not every home improvement is cosmetic. Deteriorating roofs, termite infestation or outdated electrical systems — you can’t fix it if you don’t know it’s broken. Hire an inspector to check out the areas of your home that you don’t normally see. They may discover hidden problems that could negatively impact your home’s value. Small problems (such as a hidden water leak) can become big, expensive problems quickly; the longer you put off repairs, the more expensive those repairs will be.
Curb appeal is a bit different but also contributes to the value of your home. Here are 7 tips to increase your home’s curb appeal.