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When the housing market is iffy, it's more vital than ever to make home repairs,
spiff up the kitchen and bathroom, get rid of odd paint colors and bare patches
of lawn, and consider other improvements.
In an uncertain market, a little extra work can mean not only a smoother sale or
a higher listing price, but also determine whether sellers get to the closing table
at all. Buyers often stretch themselves financially to get into a home, so
they may pass over one that needs too much work.
Here's the bright spot: Some of the most effective improvements aren't very
expensive. Giving rooms a fresh coat of paint, for example, quickly pays
off. So if you're planning to add a "for sale" sign to the lawn,
consider these five areas while creating your to-do list.
1. First impressions count
You want to make a good impression from the moment potential buyers pull up
to the house. First glimpses will include the home's exterior, the shrubbery,
the gutters and the front door.
Peeling trim could be a kiss of death. Paint the exterior of the home in an
odd color, and you could turn away potential buyers before they come inside. Don't
underestimate the importance of good lawn care, either.
"A lawn that looks good on the outside gives the impression that someone
cares about that home," said Trey Rogers, a professor of turf-grass
management at Michigan State University. His advice is to "keep it
green and keep it cut." Mow the lawn to about 3 inches high at least twice a
week when a home is on the market; 2 inches if the home is in a Southern state.
The more it is mowed, the denser it will become. And get on a fertilization
program, Rogers said, starting at the beginning of the season.
If there are small spots to fill in, bypass store-bought sod and instead borrow some
grass from an inconspicuous place elsewhere on the lawn, Rogers said. The
grasses will match better that way.
And if you are selling during winter months, keep the sidewalks shoveled if there is
snow on the ground.
2. Neutralize and de-clutter
When it comes to preparing a home's interior, any real estate professional or stager
worth a paycheck will advise a client to go with neutral colors. People can't
visualize beyond what they see. Neutral colors, including beige and ivory,
have the added advantage of making a room appear larger.
Removing the home's clutter is also extremely important for helping potential buyers
to imagine their family living in the home.
Beyond that, do some spring cleaning: shampoo the carpets, rebuff hardwood
floors and oil wood cabinetry.
3. Consider replacement projects
Sellers might consider getting a home inspection before listing their home as a way
to detect any overdue replacement projects. The sellers can either fix any
problems or give the buyers a discount to account for the repairs. It's usually
best to make the necessary repairs before selling. Homebuyers recognize
the value of a house that doesn't need major repairs. The house is probably
not going to move, or you're not going to get all the value out it, if the new buyer
knows they're going to have to replace the roof sometime soon.
4. Kitchens and bathrooms rule
It's no secret that buyers tend to be awed by updated kitchens and bathrooms.
If the last time your kitchen was remodeled was in 1980, that's going to be points
against you when compared to another home with a kitchen that was updated even
five years ago. It's hard to go wrong with a kitchen or bath remodel, unless you
get a little too 'edgy' with the design or the materials you use.
That said, sellers spending only a couple of years in a house probably aren't going to
completely remodel either room. Sellers should zero in on where these rooms
need the most improvement and then decide how much they want to spend.
If kitchen cabinets are structurally fine but their exteriors are outdated, it might be
worth it to reface them. If counters are old, replacing them may add new life
to the room. In the bathroom, look into resurfacing a chipped or damaged
bathtub.
5. Warranty coverage and documentation
Sellers can provide some extra peace of mind to buyers by purchasing a warranty
on their home that will cover such things as heating and plumbing, should the buyer
run into problems after closing. Warranties can be purchased from companies
such as American Home Shield and AON.
It's also a good idea to display the age of the water heater and furnace. If
either one is on the older side, have it inspected for proof that it works correctly.
If you've done replacement projects in the past few years, dig out the documentation
to prove it. If any of the improvements cut energy costs, make that known, too.
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