Many sellers ask “How can I improve and increase the value of my property?” Assuming market conditions are favorable, there are many ways you can maintain/add to the value of your home. These are the most frequently asked questions when I meet with sellers to discuss value:
Does condition of the home matter to a buyer?
Buyers want to feel confident about the general maintenance and upkeep of your property.
Ask yourself “What repairs can I make before I put my property on the market? What general maintenance needs to be tended to?” Buyers will almost always ask about the condition of the roof and whether there are any known oil tanks underground.
If either of these needs to be addressed, be proactive. We’ll talk about what you can do, if you can’t afford to address them before you sell.
What home improvements will increase my sale price?
There are also specific home improvements that can increase the value above the cost of the improvements. The greatest returns from renovations can be seen from: remodeling a kitchen or a bathroom, adding a bathroom, finishing a basement, landscaping.
That being said, the return will be determined largely from quality of renovations; poor quality work rarely enhances value and can even cause properties to lose value.
What if I don’t have the money to repair or renovate?
Don’t have the money to add a second bathroom or update your backsplash? You’d also be surprised how much you’ll get from a new coat of paint and a clean, uncluttered home!
Does curb appeal and neighborhood feel have any bearing on my property?
Curb appeal isn’t limited to the flowers you have hanging on your stoop. How well are the neighbors maintaining their properties? Do you know your neighbors well enough to ask if they need help? Do you know your neighbors at all? Buyers want to feel as if they’re buying into a secure neighborhood. If you have a rapport with your neighbors — and are keeping an eye out for each other — that can do wonders for the value of your home.
Can you just tell me how much my home is worth?
A comparative market analysis and an appraisal are the standard methods for determining a home’s value. Upon request, I’m happy to provide a comparative market analysis. This is an informal analysis which will include prices of recently sold and currently active comparable properties. If you want the best CMA, it’s helpful to arrange a visit so I can get a better feel for your particular property. The area’s housing stock is so varied that it really requires a a visit to get a sense of the condition and nuances your home has to offer.
If you’d like an independent appraisal, it’s best to reach out to an appraiser. There are plenty of companies available for hire.
Does marketing really help or is it just a waste of time?
In order to get the best price for your property, it is very important to present it in the best possible light, right out of the gate. I will tailor a marketing plan to your specific needs, but I have tried and true formulas for marketing listings.
For more information on what my team can do for you, contact me directly and we’ll set up a friendly meeting.
