Selling your home comes with numerous decisions. The reasons for wanting to leave a particular neighborhood, which could be anything from downsizing to upsizing, the toughest decision is determining the market value of your home.
Sellers are often impatient when it comes to doing the upgrades necessary to obtain the best market value of the home. Once the decision to downsize or upsize is made, sellers need to carefully consider the market value of the home from the perspective of potential buyers. These potential buyers have expectations. A critical eye provided by a good agent can identify the right upgrades. So I thought I’d offer a few suggestions on the best upgrades you should consider with an eye on the return on your effort.
Remodelers call this the envelope. An appraiser and eventually an inspector will take considerable time evaluating some of the most expensive issues that can impact your sale price and limit the number of people who will consider your property.
According to remodeling data, you can expect to recoup about sixty percent of a roof replacement in the sale price of the home but a buyer may attempt to suggest a full price reduction in their offer if they will need to make the upgrade. Replacing the siding or refreshing the pain has a much higher return on your investment in terms of resale. The same report suggests the best replacement upgrade is steel doors.
While full scale remodels of bathrooms and kitchens might be the sort of things buyers expect, minor changes to these rooms have a higher contribution to the resale price. Any changes should be done with a neutral palate. The mechanical parts of your house, the plumbing and electrical can be deal breakers if there are any questions about their age and viability. Sellers often “live with” various home nuances. Buyers, armed with appraisals and inspections, will not be as forgiving. It would be worth the investment to address these issues in advance of listing your home.
Your intention to sell your home should be followed by your commitment to move. While the cost of having your home professionally landscaped to improve curb appeal is important, decluttering the inside of your home is just as important. Potential buyers do not want to see how you live. They want to envision how they will occupy your home. Removing all of your personal items and all but the basic furniture not only will give buyers the ability to “see” their lives in your home, it will be a much more secure place for your agent to show your home to prospective buyers.
One Last Thought
There is an old adage that suggests you have to spend money to make money. While I’m not suggesting you do major work to the home you are trying to sell, I do want to stress how failing to do what is needed might realistically impact the sale price and the total time on the market. At the Jones Group @ Sunriver Realty, we look at both sides of the equation: from a buyer’s point of view and the seller’s expectations and can offer some suggestions to help get the best price in the least amount of time.
How can we assist you today?
On behalf of The Jones Group @ Sunriver Realty
Nola Horton-Jones, Principal Broker/Realtor | ABR, C-RIS, e-PRO, GREEN, RSPS, CCIM Candidate
Bryce Jones, Broker/Realtor | ABR, CRS, e-PRO, GREEN, GRI, RSPS, SFR
Karen Marcy, Broker/Realtor
The Jones Group @ Sunriver Realty | 57057 Beaver Drive | Sunriver, OR 97707
Mobile: 541-420-3725 | Mobile: 541-420-4018 | Mobile: 503-327-9611 | Fax: 541-593-5123
Licensed in Oregon