Here’s why you won’t need to make many renovations to sell for top dollar.
What do you need to do to your home in today’s market to ensure it sells for top dollar? If you would have asked me this question a year ago, the conversation would be totally different.
Before you do anything, you need to know how many properties you’re competing against. In today’s market, there’s often no competition. Some of the things you would have done a year ago just don’t come into play today because inventory is so low and demand so high.
The next thing you need to look at is the max price ceiling for your neighborhood. That ceiling continues to get pushed up, so you probably don’t need the gold-plated toilet seats.
One of the big trends in today’s market is showcasing your space. Specifically, you want your home’s outdoor space to look as good as possible. The backyard has never been more important to buyers than it is now.
Your front door is also important because it is the first thing people see. It should be inviting and welcoming, to make a good first impression.
In today’s market, you don’t need to do a massive remodel of your home. I’ve talked to sellers who want to do full bathroom or kitchen remodels, but that’s not necessary. Because there are so few properties on the market, it doesn’t make any sense to do that unless it’s preventing the property from being financed.
If there are problems with your roof or foundation, for example, you’re going to want to make sure you take care of those issues. If you don’t, you may not be able to get financing on the property and your buyer pool will be limited to just cash buyers. You don’t want to limit your buyer pool like that.
To recap, make sure you’re focusing on your outdoor space, your front door, and make sure you declutter.
We recently had a client with a property on the river. Another agent told them they needed to spend a bunch of money on home staging, but I let them know that a simple declutter would suffice. We ended up listing the property, getting multiple offers, and selling for $67,000 over asking price with zero repairs. The worst thing you can do as a seller in today’s market is to make renovations that aren’t needed.
If you have any questions about selling a home in today’s market or anything else related to real estate, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.