Before you dive into pre-selling home improvement, you’ll want to carefully choose the right repairs to maximize your profit.
To help you determine how much work to do before selling your house, we’ve narrowed down these three options for home improvements that can result in a successful sale.
Option 1: Make Minor Improvements
This option is all about completing the repairs or minor upgrades that will make your home marketable. Here is a list of improvements that will attract buyers without having to fix everything in sight.
Clean & declutter
Firstly, you should start by cleaning and decluttering your home so that potential buyers can envision themselves there. Box up any personal items like photographs, collectibles, and memorabilia to depersonalize the space. If you can, store any extra items in the garage or in a storage unit to keep them out of the way.
Paint with neutral colors
Painting with neutral colors is a great way to freshen up your home and give the biggest pool of buyers a chance to visualize a blank slate.
Deep clean or replace old carpet
If you have carpet that is in decent shape but could use a deep cleaning, hire a professional to do so. But, if your carpet is stained, outdated, or simply needs to be replaced, it can be beneficial to replace it. This can be a benefit to buyers who won’t have to worry about the replacement costs themselves, and it can benefit you by making a lasting impression on potential buyers.
Spruce up your curb appeal
Curb appeal is the best way to make a great first impression and get buyers interested in seeing the rest of your house. Freshen up landscaping, powerwash the sidewalk and/or driveway, and spruce up anything else that needs it. According to HomeLight’s Top Agents Insights for New Year 2022, buyers tend to pay 7% more on average for good curb appeal versus properties that are not as well-maintained.
Option 2: Go for Move-In-Ready
What is “move-in-ready” in real estate?
When a property is move-in-ready, it means that no major repairs or improvements are needed, everything works, and everything looks excellent.
Buyers who look for a move-in-ready property are typically those who:
- Want or need to move in quickly
- Don’t have extra room in their budget for repairs
- Don’t like to do home improvement projects
- Investors seeking investment properties that are ready-to-rent
There are many reasons a seller would choose the move-in-ready option, like:
- To attract more buyers by marketing the property as move-in-ready
- To sell their home at a higher price (depending on the housing market)
- To help their home sell faster
- They have the time & budget to do the renovations
This option may not be the best for all sellers because it will depend on how many renovations are needed and the costs involved in getting their house to this level.
Option 3: Sell As-Is
Selling as-is is the opposite of selling a move-in-ready home. This means you are doing minimal or no repairs before putting your home on the market. In this case, if repairs aren’t needed but the home seller isn’t in a position to complete them, it may warrant a price reduction.
Sellers may choose to sell as-is for many reasons, like:
- It’s a property they acquired but do not live in. They may have inherited the property or owned it as a second home that they don’t use.
- The house needs too many repairs.
- They have to relocate to another state. Moving for work or to care for a relative may not leave any time for improvements before selling.
Many buyers who see homes advertised as “as-is” can think the home needs a lot of work. This can give buyers the opportunity to negotiate a lower price after the home is inspected.
Do your homework before you invest in repairs or renovations
Do your research and consider which option is best for you. A trusted local real estate agent can take a look at your home and guide you on the best route to take.
Team Melton has over 50 combined years of real estate experience to assist you through every step of the process. Contact us today to get started on selling your home!