| Before a buyer considers your home seriously, it must | | | | average home, it does not pay to move walls, tear out |
| meet his needs in a variety of ways. It must be a | | | | cabinets, re-do kitchens and bathrooms, or add rooms, |
| suitable commuting distance, neighborhood, design style, | | | | in order to sell. There is a fine line between remodeling |
| floorplan, size, number of bedrooms, etc. If all or most | | | | and making repairs. You will need to draw this line. |
| of these needs are met, the buyer will begin to move | | | | Here are some decisions you may need to consider: |
| in the direction of making a purchase decision. The | | | | Countertops are outdated or wrong color: |
| purchase decision is a both an emotional and | | | | It may be worth it to replace the countertops if other |
| intellectual response, founded on a level of trust in your | | | | components of the house are acceptable. An |
| home. So, it is logical that in marketing your home your | | | | attractive countertop can transform the kitchen, and |
| goal should be to enable the buyer to build trust in your | | | | the kitchen has a significant impact on the value of |
| home as quickly as possible. One way to do this is to | | | | your home. |
| address both surface and hidden repair issues before | | | | Carpet is worn, outdated or wrong color: |
| putting your home on the market. A few small clues, | | | | This improvement is almost always worth doing. |
| such as torn carpet or leaky faucet, will create a | | | | Sometimes sellers ask us if they should give an |
| feeling that your house is not well cared for. Once the | | | | allowance for carpet, and let the buyer choose. Do not |
| buyer has spotted a few defects, he will be on the | | | | worry about whether the buyer will like your selection. |
| lookout for more. If the finishes in your home are in | | | | Just choose a neutral shade, and make the change. |
| good condition, buyers will assume that the mechanical | | | | New carpet makes everything else look better. |
| and structural systems are well maintained also. | | | | Walls need complete or touch up paint: |
| Make a Complete List | | | | This is a must do! Clean walls are crucial to a winning |
| Remember that potential buyers and their real estate | | | | presentation of your home. This includes baseboards |
| agents do not have the warm personal memories and | | | | and trim. On the walls you should use neutral colors, |
| familiarity that you have with your home. They will | | | | such as cream, sage green, beige/yellow, gray/blue. |
| view it with a critical and discerning eye. Anticipate their | | | | Stark white, primary colors and dark colors do not |
| concerns before they ever see your home. You may | | | | contribute as much market value, and may be a |
| look at the leaky faucet and think of a $10 part at | | | | negative factor. |
| Home Depot. The buyer thinks of a $100 plumbing bill. | | | | Texture on walls is poorly done, or there is heavy |
| Begin by walking through each room and considering | | | | "popcorn" texture on the ceiling: |
| how buyers are going to feel about what they see. | | | | A clean, simple texture under paint can improve the |
| Make a complete list of needed repairs. Hire a | | | | presentation of your home. On the other hand, if there |
| handyman, if you need one, to fix the items in a few | | | | is much updating needed in other areas, it does not |
| days. It will be more efficient to have them all done at | | | | make sense to target this item. |
| once. Some clients choose to market their houses as | | | | Wallpaper is outdated or torn: |
| a fixer-uppers. Of course, there are handy buyers out | | | | This may need to be removed and the walls painted. |
| there who are not afraid of repairs, but they expect to | | | | However, if the home needs a good deal of additional |
| profit from this, substantially above the cost of labor | | | | updating, then wallpaper should be left as is. Bathroom |
| and materials. When a house needs obvious repairs, | | | | caulking or grout is dirty: Put this on the must do list. Old |
| buyers always assume there are more problems than | | | | or darkened caulking is a turn-off to buyers. It is easily |
| meet the eye. It is in your best interest to get minor | | | | replaced. |
| repairs fixed before marketing your home. Your house | | | | There are drainage problems, or leaks in the plumbing |
| will bring a higher price and sell faster. | | | | or roof: |
| Get an Inspection | | | | This is a must fix! Be careful that you correct the |
| Often sellers have their home inspected by a | | | | source of the problem, use professional help to check |
| professional inspector before putting it on the market. | | | | for mold, and fully disclose the repair. Make sure your |
| This is an excellent way to discover unknown repair | | | | contractor gives a warranty that can be passed on to |
| issues that may come up later on the buyer's | | | | the buyer, but avoid giving a personal guarantee of the |
| inspection report. By getting this done early, you will be | | | | repair. |
| able to address the items on your own time, without | | | | There are sheetrock holes, missing trim, torn vinyl, |
| the involvement of a prospective buyer. There will | | | | broken windows, rotten wood or malfunctioning |
| almost certainly be some items that you choose to not | | | | equipment: |
| repair. For example, building code requirements change | | | | These are all repair issues that should be addressed. |
| over the years. As a result, you may not meet code | | | | Homes sell for more that show a reasonable level of |
| for certain items, such as handrail height, spacing | | | | maintenance. |
| between balusters, stair dimensions, single glazed | | | | Shrubs are overgrown and flower beds are bare or |
| windows, and other items. You may elect to leave | | | | weedy: |
| items such as these as they are, and that is OK. You | | | | This is one of the most cost effective changes you |
| should note on the inspection report which items you | | | | can make. Mow and edge the lawn. Add inexpensive |
| have repaired, and which are being left as is, and | | | | mulch to flower beds. Add a new doormat and pots |
| attach it to your Seller's Disclosure. It is a good idea to | | | | of blooming plants to the porch. Cut back overgrown |
| also attach repair receipts to the report if you have | | | | shrubs or remove them altogether. Large, woody |
| used a contractor for some of the items. A | | | | shrubs can be a detraction to your home, especially if |
| professional inspection report answers buyers | | | | they cover windows. |
| questions early, creates a higher level of trust in your | | | | Gutters need cleaning and trees rub against the roof: |
| home and reduces re-negotiations after contract. | | | | These are items that comes up frequently on buyers' |
| Offer a Service Contract | | | | inspection reports. Make sure your tree limbs do not |
| The home service contract (also called home | | | | touch the roof. |
| warranty) covers the cost of certain repairs to | | | | Heat/AC, Plumbing and Electrical systems: |
| mechanical, plumbing and electrical systems and | | | | All of these systems need routine maintenance. It |
| appliances during the buyer's first year of ownership. | | | | would be a good idea to have the heat/AC system |
| The cost of the policy is about $350, but may be more | | | | serviced and filters changed. Check for plumbing leaks, |
| if a pool or other items are added. The fee is paid to a | | | | toilets that rock, corroded valves on the hot water |
| third party warranty company, who provides repair | | | | heater and other plumbing problems. Replace burned |
| services for the buyers during their first year of | | | | out bulbs and electrical fixtures that do not work. |
| ownership. These policies help to reduce the number | | | | Check your sprinkler system and pool equipment for |
| of disputes about the condition of the property after | | | | little problems. |
| the sale. They protect the interests of both buyer and | | | | Make Needed Repairs |
| seller. | | | | As you prepare your home for sale, your first step |
| Should You Remodel? | | | | should be to make needed repairs. By making repairs |
| Often clients ask us if they should remodel their house | | | | you will answer buyers questions early, build trust in |
| for sale. I believe the answer to this is no - major | | | | your home more quickly, and proceed through the |
| improvements do not make sense when selling a | | | | closing process with fewer surprises. Your home will |
| home. Studies show that remodeling projects do not | | | | appeal to more buyers, sell faster and bring a higher |
| return 100% of their cost in the sales price. For the | | | | price. |