How to Improve Your Home’s Value Before Selling

Raleigh Real Estate Podcast with Chris Gorman

When you’re selling your home, you obviously want to get the most money possible out of the sale while minimizing the expenses to get you there. Here are a few simple inexpensive updates you can make to your home to increase its value before selling. First, set the price right at market value, not above or below it. By doing this, you will achieve urgency among buyers. Buyers in today’s market are educated and they know what a good value is when they see it. If you price in line with market value, buyers are more inclined to offer full price and start bidding wars. In terms of investing in your home, there are a few common areas where we encourage most buyers to spend a little money. The biggest thing is paint. If you can only afford to do one thing, it should be paint. A fresh coat goes a long way in terms of sprucing up your home’s appearance. The smell of fresh paint is also a sign to buyers that the home is cared for. “Flooring and paint are the two most obvious areas to improve.” Flooring is the next thing to look at. If you’ve had the same carpet for more than five years, replace it. Floors carry a lot of weight for the buyer in terms of their perception of value. The trick here is that for every dollar you spend, buyers will think you spent three. By replacing things like paint and carpet, you’re investing in a higher sales price. Finally, the kitchen and bathrooms are the only rooms in the house that aren’t just four walls and a ceiling, so buyers pay special attention to them. If your neighbor has a fully updated kitchen and you don’t, you either need to take action to update it or reflect that fact in your list price. If you have any questions for us about what else you can do to increase your home’s value before selling, reach out to us via phone or email today. We would love to hear from you.