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A Home Run:
A Brief Guide to Selling Your Property Fast
Selling a home can sometimes feel like money spent rather than earned, but with a few cunning methods, you can increase your property’s value quickly and on a budget. It’s time to roll up the sleeves and roll out the carpet – your saleworthy home is just a few (DIY) steps away.
The first thing a buyer sees when viewing your property is the exterior, and that alone can go a long way toward defining price. Realtors refer to this as ‘curb appeal’ (i.e. the visual appearance of a property as viewed from the curb in front of a house). It’s believed that curb appeal can account for up to 17% of value. So, how can you go about making sure yours is up to the mark?
A good place to start is the front door. National data suggests that a simple entry door replacement can yield a 74.9% return on investment (ROI), giving a strong first impression and providing functional value by preventing drafts. Pair this with an outdoor lighting system, and you already have the foundations of a fast-selling homefront. Studies show that attractive outdoor lighting increases property value by roughly 20%, as well as improving security, nighttime visibility, and extending the usability of outdoor spaces into the late hours.
Once you’ve got the simple things out of the way, it’s time to move onto decking. New decking can present a daunting task, but with the help of friends or neighbors, it’s entirely feasible to do it yourself, and the payoff can be enormous. Based on a space measuring 16 by 20 feet, refurbished decks tend to offer sellers 69.1% ROI.
While appearances are important, it’s what’s on the inside that counts most. Americans spend, on average, $400 billion per year on home remodeling, receiving anywhere from 43 to over 100% ROI depending on which rooms in the house they’ve altered.
These modifications needn’t be costly, though. Consider, for example, a fresh coat of paint. Although a minor task, most buyers will expect newly painted walls, and chipped, stained or flaking paint can affect appraisals. Just make sure you stick with bright, neutral tones that won’t turn off a picky customer.
Not all walls, however, respond well to a new lick. Luckily, there are plenty of strategies you can use to help transform even the stalest of interiors. Mirrors are effective at making rooms look bigger and brighter. It can be a good idea to cut and frame your mirror in the shape of a window to imitate the real thing and freshen up enclosed areas. A change of faucets can instantly give kitchens and bathrooms renewed glamour without draining the budget. And, simple as it may sound, new bulbs and light fixtures are a quick and substantial way to improve ambiance. For a warmer, gentler hue, use bulbs in the region of 2700-3200K.
Adding It Up
When you’re working hard to transform your home, the importance of tracking and calculation can’t be underestimated. Every trip to the shop or afternoon spent with a paintbrush represents increased value. By keeping track, you’ll be admin-ready when the time comes to sell, refinance or utilize home equity. Although it might sound like a hassle, calculating and tracking are easier than ever with the help of online tools.
Whether you’re selling a mansion or repurposing a garden shed, with the right know-how, your dream valuation might be closer than you think.
When you’re ready to list, connect with local real estate expert Joel Finnie can help you find the best market value for your property. Connect with Joel today! 951-813-8218