If you are preparing to sell your home, you’ll want to consider low-cost, high ROI improvements that will increase your net proceeds. Sometimes the most mundane “tweaks” (especially collectively) can make a significant difference in how buyers view and value your home. For example, have rugs cleaned, remove draperies, get rid of wallpaper, and have your windows washed. Make sure all the light fixtures have all bulbs working and that they are the same color within each fixture. Declutter, pay attention to landscaping and look for paint that needs freshening up (particularly trim and your front door). Power wash decks/patios and siding if needed. A very inexpensive but high value improvment is to switch out the lightswitch plate covers and outlet covers so they all match. When you do that, you might consider, converting some outlets in high use areas to ones that provide USB ports as well.
Most large projects (like updating a kitchen or replacing a deck) usually cost more than the value they add, so be careful with those. In certain cases, there may be a middle ground when it comes to remodeling–for example, painting kitchen cabinet doors/drawers and replacing their hardware can breathe new life into a kitchen with minimal cost. Staining the deck and possibly replacing the railing is another example of how you can increase your home’s appeal without spending more than you’ll get back.
One suggestion I often give my sellers: have a pre-listing inspection done. There are three reasons: the first is to know what is going to turn up, so you are prepared. You can either choose to repair certain things or at least know that a buyer is likely to ask for repairs or a credit. It allows you to not be blindsided by a potentially significant reduction in your net proceeds due to inspections several days after you’ve negotiated a final sales price.
The second is that some buyers get scared by all of those items that are listed on an inspection report. If you can sort of “head them off at the pass” with an opportunity to explain things (and/or fix them), you can lessen the liklihood of a buyer terminating the contract.
The third advantage to having that prelisting inspection is that if you make it available to buyers (leave a copy on the table and provide a copy to any buyer’s agents whose clients might be writing an offer), you’ve disclosed everything. If you circle or highlight things you’ve repaired or are willing to credit for, it can help to set the buyer’s expectation as far as the things you, as a seller, consider your responsibility to repair and those that you DON’T. Even more important, if you’ve provided a copy of the pre-listing inspection, if a buyer comes back after his own inspection and asks for a credit for something you’ve ALREADY DISCLOSED, it’s a lot easier to say, “Sorry, we made that information available and believed when we agreed to the final offer that that issue was reflected in the offer price.”
So please consider a pre-listing inspection as it can save you unwelcome surprises which may reduce your net proceeds, prevent buyers from “getting scared off” and walking away and help you in the negotiating process.
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