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 The purchase decision is a both an emotional | | | | Countertops are outdated or wrong color: |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| repair issues before putting your home on the | | | | Carpet is worn, outdated or wrong color: |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