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The sale of your
home is one of the most important events in your life.
If you have decided to sell, now is the time to enhance the relative
attractiveness of you home so that prospective purchasers will be
willing to pay you top market price. In a seller's market (one in
which the inventory is rapidly decreasing), seller's don't have
to do much to obtain a high selling price because buyers don't have
many choices. However, in a buyers market (one in which the inventory
is rapidly increasing), sellers need to distinguish their home from
the competition to get top price.
Don't make your home unsaleable
Now is not the time to launch a major
remodeling project. There is a common myth perpetuated by the remodeling
industry that sellers can usually recover and make a profit on the
costs of remodeling when selling their home. The costs of remodeling
a kitchen or bathroom, adding an extra room or air conditioning,
installing custom drapes or even replacing carpets are normally
not fully recovered when the home is sold. If you spend money on
remodeling, there is a 100% certainty that you will incur expenses
but there is less than a 100% chance that you will recover the cost
of these expenditures. An expense that you feel is absolutely necessary
may be considered an unnecessary frill to a buyer. An addition risk
of remodeling is that the additional cost and increased asking price
will price your home out of the range of similar homes or out of
the price range of current buyers in the marketplace. You should
evaluate the purpose of every dollar spent in relation to the return
that you will get in the sale. This is a good rule to follow, not
only when selling a home, but whenever you are considering a renovation
or remodeling project. |
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You don't get a second
chance to make a good first impression
The appearance of your home from the street is the single most
important consideration when you are evaluating possible changes.
Home buyers are in the process of making one of the most important
decisions in their life. Most buyers have only a limited time to
search for a home and need to make quick decisions to get on with
the process. A buyer will normally make a decision about your home
before they even get to the front door. You should take a good objective
look at your home, and the adjacent homes, from the street. This
is where the buyer will be when they first look at your home and
the neighborhood. You should attempt to make your home as attractive
and inviting to potential buyers as possible. It is our experience
that the following items are normally worthwhile projects; however,
you may not be able to accomplish all of these items. Do what you
can and don't worry about the rest. A competent real estate agent
can work around the obstacles.
- Hire a competent contractor to paint the outside if the existing
paint is peeling or faded
- Remove heavy oil stains from driveway
- Prune overgrown trees, shrubs and other plants; replace any
unhealthy or scraggly plants
- Eliminate clutter and corral children's toys to make the home
appear clean and inviting.
Kitchen and Bathrooms: the most important rooms in the house
When you are selling a home, the kitchen and bathrooms should
be immaculate. Nobody likes to see other peoples dirt-especially
in these rooms. It doesn't take great skill to thoroughly clean
but it does take many hours of hard work. It can easily take two
hours to properly clean under a kitchen range hood and a similar
amount of time to clean a shower. It often takes two entire working
days (16 hours), or more, to properly clean the inside of a house.
- The three most important things to do when selling a house is
clean, clean and clean.
- Have the windows and screens professionally cleaned inside and
outside
- If your home has tiled counters, floors, showers or tub surrounds,
clean all the tile and grout
- Remove water spots from shower and tub enclosures
- Burnish all un-anodized aluminum window and door frames with
Brillo-type steel wool pads
- Clean all enamel painted surfaces including ceilings, walls
and doors
- Repair or replace malfunctioning built-in appliances
- Replace damaged vinyl in bathrooms and kitchen before the sale
- Replace worn knobs on cabinets
- Garage: the least important area
- If you don't have room to store all those articles that you
are clearing out of the living area, put them in the garage. Some
buyers couldn't care less about the garage and you can park you
car in the driveway or the street while your home is for sale.
The car won't be there during showings because you will take it
with you while you disappear during the showings of your home
to prospective purchasers.
Other areas:
- Replace any broken or cracked windows and torn screens
- Replace or repair any damaged exterior doors
- Replace any leaking plumbing fixture
- Edge vacuum around the entire inside of the home
- Clean all the light fixtures and replace any burned-out bulbs
- Remove fingerprints on the walls and surfaces around light switches
and from the doors around the door knobs
- Pets shouldn't be seen or heard
- If you currently have pets, keep them out of sight. This may
also be the right time to suggest a temporary home for your neighbor's
barking dog.
Inspect-don't regret
Ask for the advice of your real estate broker regarding the appropriate
inspections to obtain. A competent realtor should know fair and
impartial licensed pest control (termite) inspectors, property inspectors,
roofing inspectors, chimney inspectors, pool inspectors, etc. It
is best to obtain all of these inspections prior to looking at any
offer so you know what the cost of your obligations may be regarding
necessary repairs under the terms of the purchase contract. Also,
we advise that you perform any required repairs (that enhance the
attractiveness of your home) early in the marketing process since
most buyers would demand that you pay for these repairs. It makes
sense to eliminate these visual eyesores by doing this work as soon
as possible.
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