You don’t have to spend a lot of money to make your house more appealing to buyers — and doing so can make a big difference. A well-maintained home is one of the best ways for homeowners to attract buyers and a well-maintained home can sell for about 10% more than a similar home in average condition. Buyers are making life’s biggest investment, and they want the peace of mind that they’re investing in a home that was well cared for.
Consider these lower-cost projects that can offer bang for your buck.
New Interior Paint
A new coat of paint gives your house an instant fresh and updated look for shoppers. A fresh coat of paint — particularly in the right color — can deliver a powerful signal to potential buyers that a home is well-maintained and contemporary.
Flooring
Replacing or refinishing flooring is another common task, taken on by recent sellers and most replace carpet before listing. You may also consider deep cleaning flooring and correcting flooring damage, such as scratches or stains.
Curb Appeal
The first thing buyers will see, both online and in person, is your home’s exterior. Whether they’re viewing your exterior photo in an online listing, driving by, or attending a private tour or open house, it’s imperative that your home makes a good first impression. Landscaping is one of the most commonly completed projects for recent sellers when they were gearing up to list their home, but there are other important curb appeal projects, too, like painting your font door and exterior of your house.
Smart Home Technology
According to the Zillow® Group Report 2020, 41% of Generation Z buyers and 47% of millennials rate smart home technology as highly important in their home search. Smart thermostats and lights are popular and relatively easy additions that can save you money on energy bills. In addition, buyers are finding hands-free tech of toilets more appealing than conventional ones.
New Lighting
Good lighting is crucial to showcasing your house’s features, especially if your space doesn’t have a lot of natural light. Upgrading your lighting is easy and inexpensive, and it can make even small rooms feel larger.
Small Bathroom Updates
You don’t need to rip out tile or add all new fixtures to give your bathroom a face-lift. In fact, approximately one-third of sellers make improvements to the bathroom before selling, and they can be simple fixes. Swapping outdated lighting and installing modern mirrors can provide instant change to any bathroom. Also, adding fresh calking to tile and bathtubs gives the look of a clean, well maintained.
What if I Can’t Afford Home Improvements Before Listing?
If your budget won’t allow you to complete any repairs or improvements before listing, you have a couple of options:
Sell as-is: When you sell as-is, you make it clear to buyers that you won’t be making any repairs before closing. You’ll want to adjust your listing price to accommodate for that fact. Note that buyers may try to negotiate the price even lower, especially if the property is in bad shape.
Offer a credit at closing: If your buyer’s inspection uncovers any issues in the home, you can offer a credit to the buyer that will allow them to make the repairs after closing. Often, the credit the buyer requests ends up being higher than what the cost would have been if you had completed the repairs ahead of time.