Five Ways to Increase your Home's Value for the Spring Market

After a crazy real estate market in 2020, how will 2021 stack up? So far interest rates remain low, therefore motivating many buyers to purchase. Although, home inventory is also low, which makes a very competitive market for buyers. Thus far, 2021 looks like it will be very similar to 2020. If you are a seller looking to get the most for your home, it’s important to prepare. Just because it’s a sellers’ market doesn’t mean you get a free pass. An overpriced home in a seller’s market is still an overpriced home. So what can you do to get the most for your home?

Increasing the value of your home doesn’t mean you need to do a complete remodel. There are things that can be done at little to no cost that can rake in a couple more thousand dollars on an offer. The important thing though, is to do these things PRIOR to listing your home. Once a home is listed, it will start accruing days on the market. The more days it accrues the more likely buyers are to question what is wrong with it. So get your home ready in advance so you can put your best foot forward on day one.

Here are five easy tips that can help your home show 10x better to potential buyers and bring in the highest offer:

1. Deep cleaning- Cleaning your home is so important. A dirty home is an instant turn off. Even if a home is dated, but its clean it will show so much better. Sounds like common sense, but there are many sellers who don’t take the time to do this. On average either cleaning yourself or hiring someone to do it for you- will generate a potential $1728 increase on the value.

2. Decluttering and Depersonalizing- Have you ever seen real estate photos where the sellers have miscellaneous items on the counter, toys all over the floor or family photos galore? Obviously, we know you live in your home and there’s nothing wrong with that, but for picture day and showings its best to declutter and depersonalize as much as you can. Clearing counters, floors, tables, desks can make a huge visual improvement as well as removing excessive personal photos or kids drawings. The space will present better and often times look bigger. It will also help buyers visualize themselves in your home. This simple act can add an additional $2584 increase to the value. This is one of the easiest and cheapest ways to get the most money for your home without remodeling anything!

3. Fix anything that needs fixed- To keep the transaction as smooth as possible, I always recommend to my sellers to fix anything that you know needs fixed. If you know your faucet leaks, take care of it. The less things a buyer can pick apart or that will show up on a home inspection the better.

4. Painting- Sometimes painting is necessary, sometimes its not. If you have chipped and peeling paint, I would recommend painting. Chipped and peeling paint is a red flag for government loans, so if you can take care of it prior to showings your home will appeal to more buyers. You may also want to paint if you have bright or bold colors on your walls. According to Home Lights Top Agents 2019 Q1, 57% of buyers are more attracted to neutral tones that will work well with their furniture and home décor. Yes your deep red room may look perfect with your décor, but could be a complete turn off to a potential buyer. If you are considering paint, check out some of the top picked colors buyers prefer:

5. Landscaping- Mowing your lawn, edging the sidewalks, trimming hedges, and fresh bark mulch are great ways to spruce up curb appeal. About 72% of buyers are more attracted to a home that is well groomed. If you really want to get some bonus points, add a fire pit. About 69% of buyers in the Northeast would like this upgrade. It’s a fairly straight forward upgrade that won’t break the bank, but is something that buyers are looking for.

If you are contemplating a move this year, prepare your home in advance. Another tip I would have is find your next home BEFORE you sell your current home. Since it is a sellers market, it is much easier to sell in a short time frame than it is to buy. I don’t want to see anyone homeless in 2021. Need some more advice? Shoot me a message!

Reference: Home Lights Top Agents 2019 Q1 and 2020 Q4