If you’ve been following the real estate news, you know that we’re in a crazy time right now! You might even be wondering if now is a good time to sell. (Hint: It is IF you’re needing to make a change or IF you already have your sights on where you’ll land.) But what should do about preparing your property to sell for full home value (or more)? Do you need to sell FAST or would you benefit from a more nuanced approach?
You might be seeing some un-realized potential in your home. Perhaps it needs a kitchen or bathroom renovation, or other major improvements. If this is something that has been on your shortlist for a while, this is not really the best time or situation to move forward, as you’ll end up paying top dollar for upgrades in this current, insane market!
If you’re thinking about selling and looking for the best ROI (return on investment), think about the big picture, think about your buyer, and focus less on how YOU want to live in your home.
We, at Pamela Sandall Design, have made a bit of a name for ourselves in doing what we call “The Mini Flip.” We have unlocked a few key ideas that will help you net the best return on your investment in your home. We’ve done dozens of these mini flips with reliably profitable results and expedited sales.
So, today we are sharing 5 of the techniques we employ in our mini flips so that you, too, can increase the perceived value of your home in preparation for a successful and lucrative sale.
Let’s jump right in…
1. Create Curb Appeal to Instantly Increase Home Value
Paint is your friend! Depending on your market, popular colors vary, but drive through newer neighborhoods and learn from the pros. What colors are the builders and developers painting the new homes? Emulating these color palettes are a great start. I’m in Los Angeles, CA and the go-to palette on the west coast right now is white with black trim. This wasn’t the trend about 6 years ago, but it is now and in a big, big way. Investing in fresh paint in an “on trend” versus trendy color palette gives your buyers that fresh curb appeal they’re craving.
Cleaned up landscaping, a lawn with crisp and clean edges, and flower or shrubbery beds filled with a dark mulch create a lovely listing photo. A few fresh and colorful plantings will complete the look.
Add some cost-effective new house letters or numbers, spruce up the front door with new hardware, consider a new, sleek mailbox…and in no time (and for minimal cost) your home will look fresh and well-maintained.
2. Cure Obvious Cosmetic Blemishes for the Buyer
Once inside, don’t skimp on cleaning up the cosmetic items. Peeling paint, missing trim, and mismatched door hardware will all give your home an unloved appearance.
Fresh paint inside will add amazing value to the home as well. White (in varying shades) is on-trend inside the home too, so this is a great time give all the walls a fresh coat.
Neutralize any room that screams with a particularly strong personality. To appeal to the MOST buyers, keep it simple.
If your floors are in rough shape or your carpet is stained, or worse, invest in cleaning up these items. Anything clearly broken, missing, or non-functional should be addressed.
3. Fix Functionality Issues to Maximize Home Value
And speaking of non-functional, anything that doesn’t work is a huge red flag for your buyers and positively screams neglect. An appliance that doesn’t work, a toilet that runs, or cabinets that don’t close properly are all items that your buyers are mentally calculating as costing far more than they actually do. Plan ahead, make a list of anything not working well, and turn it over to a handyman (or a handy husband!) to repair.
4. Update the Kitchen with Thoughtful, Timeless Upgrades
Kitchens sell homes! A tired countertop, cracked tile, or sad cabinets will all date your house and drive down the home value. Upgrading fixtures and surfaces will pay off with a huge return! Investigate some cost-effective options and don’t be afraid to think outside the box!
We recently took an outdated kitchen with stained granite counters and no budget and had our handyman build some cost-effective wood countertops. They looked incredible and were the highlight of the listing! You, too, can upgrade your kitchen without a lofty expense…you just need a little creativity and the right team!
5. Beautify the Bathroom to Bolster Perceived Home Value
Outdated bathrooms are another sad reason that potential buyers may choose to walk away. By refreshing at least the primary bathroom, you’ll net a great return!
Paint old cabinets, replace dated counters, or even reglaze them with a tile paint in a neutral color. These small updates will give the bathroom a fresh, clean look. Style with spa-like white towels, some scented candles, luxury soaps, and vibrant greenery and the bathroom will feel new again.
While this process can seem overwhelming while you’re in the middle of it, the payoff is amazing, and well worth the work! Making improvements on your home before you sell will net you a higher selling price AND a faster selling period.
By taking all the question marks out of your home, your potential buyers can more easily picture themselves living your home! Think back to what you loved when you first purchased the home, adjust for current trends and the current market, and dig in.
Good luck! Oh, and if you’re looking for a team to manage your project from concept to completion, we’ve got your back! Contact us and let’s get to know each other.
Xoxo,
Pamela
