After you’ve decided to sell your home, the next logical decision is price. Before you can decide on price, though, you have to decide if you’ll make any improvements to your home before listing it. This means that you need to consider what will have the highest return on investment so that you can put your money to work for you. While every property is different, these are the most common high ROI improvements you can make:
1. Repair Any Deficiencies
Home buyers love to find problems with a property so that they can cross it off the list, and many real estate agents try to show value to their clients by picking apart a house when they walk it. This means that minor cosmetic blemishes like drywall cracks and old water stains can turn into big problems for a sale. If it looks like it could be perceived as a problem, you really should fix it. The good news is that these repairs are generally cosmetic and inexpensive.
2. Start Moving Out Early
Since you’ve already decided to move, packing and moving some items early isn’t very expensive. It just takes time and possibly the cost of storage. Staged homes show better and sell for more. 90% of staging is decluttering and moving a lot of your belongings out. It’s great to get guidance on this and a professional staging consultation is a huge help in this area.
3. Paint & Landscape
First impressions are everything! A fresh coat of paint will make your property look almost new, and fresh landscaping in the front yard (don’t worry so much about the back) will improve your home’s curb appeal immensely. Since we’re focused on ROI, it’s important to note that both paint & landscaping are relatively inexpensive.
4. Consider Upgrades
It doesn’t always make sense to upgrade a home before listing it, but sometimes it does. It almost always makes sense to upgrade a feature if you’re already replacing it. If you’re replacing the beat up carpet in your living room, it probably makes sense to replace it with wood. If the countertops in your kitchen are done, consider the additional cost to put in quartz or granite. It’s important to calculate the price difference of a simple replacement or upgrade, and then consider how much more money you can sell your house for if you choose to upgrade.
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