How to make your home more appealing to buyers
Whether it’s a “buyer’s” or “seller’s” market, homebuyers will always have options when looking for homes in their preferred price range. Even in markets where home inventory is low, buyers can be patient and picky: very few of them are going to settle and pay full asking price for a home that doesn’t check many of their boxes. As a home seller, this means the ball is in your court. Prior to listing, your goal is to make your home the most appealing it can be so that you can get the highest possible offer for your property.
In this article, we’ll review some of the best value-boosting remodeling projects, discuss disqualifying factors you should address before listing, and evaluate the true value of making a good first impression. Let’s dive in:
Get a better ROI out of your remodeling project
There’s no hotter buzzword in home remodeling than “return on investment”, or “ROI.” You can’t watch a home remodeling TV show without hearing it about a dozen times. ROI is especially relevant to homeowners who are planning on selling their home because no one wants to sink thousands into a property months before they walk out the door. You want some degree of assurance that some of that value is going to come back to you when you list your home at a higher price and get better offers from buyers.
Amongst all the upgrades you can make to your home prior to listing, we recommend upgrading your kitchen and bathroom. You’ll see a high degree of ROI from both of these projects.
Eliminate any disqualifying factors
Your home just isn’t going to click for every single buyer out there. After all, there’s no accounting for taste: just because most buyers love your new quartz countertops doesn’t mean that every buyer will.
However, you should consider addressing any aspects of your home that might be universally unappealing for buyers or potential deal-killers. Here’s just a few of them to watch out for:
- Aging HVAC Systems: No buyer wants to purchase a home where they have to worry about the air conditioner or furnace dying in their first year of owning the home. If you have an air conditioner that is starting to have problems, you might have trouble getting traction on your home sale until you replace them.
- Roof Problems: Many states require sellers to disclose any past roof issues or water damage. However, even if yours doesn’t, it will still come up during the home inspection. Nothing kills a sale quite like existing roof problems. Have a professional roofer repair or replace your roof for a clean bill of health.
You only get one chance at a great first impression
For most buyers, the first look they get of your home is online. Home listing sites have dozens, if not hundreds, of available homes for buyers to scroll through. The buyer has already set filters for price and other preferences, so when they click on your listing, they’re probably going straight to the photo slideshow. They may only spend a couple of seconds here: making a good first impression can really make all the difference.
What are buyers looking for?
This is where that kitchen or bathroom upgrade can really be key. Most realtors agree that buyers in the millenial age group—the single largest group of homebuyers today—see upgraded kitchens and bathrooms as a must-have, with a preference for open floor plans that make the kitchen the center of home life.
The connection between curb appeal and maximizing your home’s value
The pictures of your new kitchen or bathroom may be just what it takes to get that prospective buyer to favorite your listing or send it along to their realtor. With dozens of buyers doing this, you’re going to see an uptick in buyers touring your home and—eventually—solid offers coming in for your home. Once you get the offer that’s right, you can move forward knowing that your effort and foresight helped you maximize the value of your home.