HERE ARE VITAL TIPS AND STRATEGIES ON HOW TO MAKE THE MOST OF YOUR INVESTMENT WHEN YOU PREPARE TO SELL YOUR HOME. READ THIS REPORT AND MAXIMIZE YOUR RETURN ON INVESTMENT.
A Special Report Prepared By Erich Salas
How To Maximize Your Return When You Sell Your Home
Don’t neglect the minor details
It’s often the little things that really stand out. If your mailbox is in poor shape, replace it. Varnish or repaint your door if it needs it. A door knocker and brass kick plate can also be a nice addition. Spruce up the entryway with new light fixtures, potted plants and other decorative touches.
With the exception of adding a deck or patio, most of the steps I’ve touched on here can be accomplished in relatively little time and without a lot of money. But the difference in the impression your home makes on prospective buyers will be dramatic.
Ironically, some of the big-budget items you might consider spending your money on will do little to enhance the marketability of your home. Aluminum siding, for example, is prized by some and loathed by others. Hot tubs may or may not appeal to potential buyers. Watch out for changes that you may find appealing but end up limiting your home’s appeal to others.
Besides swimming pools, other investments you probably won’t see a return on are tennis courts and automatic sprinkler systems. Unless they’re for your own enjoyment, don’t waste your money.
One major expense you may have to consider is a new roof. But if you think you can pass the cost along to a buyer, forget it. Everyone expects a good roof, and they’re not going to pay extra for it. And a roof in poor condition can kill a deal quickly.
Making the best second impression
As with the exterior, I’ve found that there are plenty of interior tricks to punch the right emotional buttons in prospective buyers.
In all rooms, certain minimum standards should be met:
These Are The Minimum Standards:
• Make sure all plumbing and electrical systems are in good working order
• Repair cracks in the wall
• Paint—as is the case outside, a fresh coat of paint throughout the house will more than pay for itself
• Remove wallpaper
• Replace missing molding
• Replace cracked or broken window glass
• Make sure window and door hardware match
• Install new floor coverings
• Install new light fixtures
• Make sure switch and outlet plates match from room to room
• Upgrade insulation in drafty or hot rooms
As is the case outside, a coat of paint can literally make the difference between a sale and no sale. Be sure to stick to neutral colors—white or off-white. It tends to make everything look new, clean and bright.
Be sure to paint everything: inside closets, cabinets, pantries, etc. If a prospective buyer opens a door and sees dirty walls or shelves, you’ve just wasted the advantage you had gained by painting in the first place.
Like paint, new carpeting should also be in a neutral shade. This helps buyers visualize their own furniture in your home.
Wallpaper, like wall colors, makes a personal statement about the owner’s tastes. Remove it. Buyers want to visualize what they would do with your house, and wallpaper gets in the way of their dreaming.
Many buyers value good wood floors, so sand and refinish yours if they can be restored. Otherwise, you might consider new flooring. If your home is short on storage space, consider how you can add shelving, cabinets or other storage systems to remedy this deficiency. You may also consider replacing windows and doors with more energy-efficient models.
Taken individually, each of the above improvements may not seem like much. But you’ll find that the cumulative effect of fixing even relatively minor problems will be dramatic. A crack in the wall, a carpet stain or a light switch that doesn’t work can send a negative signal that results in the loss of a buyer. I’ve seen it happen.
Erich Salas
The CA Real Estate Doctor
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