Written by Jodi Weed, Michigan Licensed Realtor
Thinking about selling your home this year? Wondering what the market is doing? Well there’s a lot of good news for sellers right now because we’re currently experiencing what’s known as a “seller’s market”. This means there are more buyers in the market looking to buy than there are houses on the market to sell. Houses that are competitively priced, clean and moderately updated are receiving multiple offers and selling at or above market value in a matter of weeks. The more your house stands out the more money you are likely to walk away with at closing so it’s worth making some changes.
Where to begin, if your house is dated and you don’t know where to start, call me! I can do a quick walk through and also provide you with a free market analysis. I’ll include properties with updates and ones without to give you an idea of what has recently sold in your area. This will give you some insight as to what to focus on in order to get the highest return on your investment. To learn more about my approach to helping clients check out my website at https://jhwrealestate.com/about or text me at +1 734.215.5465 to learn more!
Now let’s get to the Top 7 Selling Tips!
#1: Clean It Up
Cost: $25 – $200/Average Return on Investment: $1,500 – $2,000
Buyer’s want to be able to visualize themselves living in the space and no one wants to walk through someone else’s mess. The single most effective way to increase the value of your house is to clean it up! Inside and out. When a potential buyer walks through a dirty house it automatically sets the tone for a negative experience. Not only do you see the mess but you also look for flaws, one thing leads to another and they leave without seriously considering buying your house.
As a realtor, I’ve personally experienced this, I’ve walked into homes that are so dirty you simply want to walk back out. Sellers can’t assume since we’re experiencing a seller’s market with low inventory that they can simply list a dirty house and expect it to sell. You can’t sell what people aren’t willing to see!
Clean spaces invite offers, it’s that simple! If you’ve been renting your home or things have just gotten a little out of hand and it’s too much to tackle on your own then hire it out. Find a professional cleaning service that is bonded and insured and they can clean your house, top to bottom, and get it ready to be put on the market.
#2: Get Organized
Cost: $100 to $500 /Average Return on Investment: $2,500
Think of this as prepacking and if all goes as planned your home will be listed and you should have an offer within a month or two. It will take 30-60 days to close the deal so essentially you could be moving within 90 days of listing your house! Again, clean inviting spaces draw multiple offers and multiple offers mean more money in your pocket at closing, so it’s time to get organized.
So where do you begin? First and foremost, get some boxes and remove all personal items you plan to take with you. Family pictures, keepsakes, and collections should be removed and put away for safe keeping. This may be a little difficult considering most of us raise our kids, build our memories and have emotional ties to our houses but you have to keep in mind that if everything goes as planned you will be moving within a few months. You’ll end up packing all of these items at some point so why not do so at the beginning of the process instead of the end. It will keep your most important things safe and help draw buyers to your property.
Tips for getting organized:
- Go through each room and decide what you want to take with you and what you want to get rid of.
- Sell the things that are in good shape. (Ask me about coordinating an estate sale.)
- Donate things you no longer use. (Purple Heart, Goodwill, Salvation Army all make pick-ups.)
- Throw away things that have served their purpose and worn out their usefulness.
Moving is an excellent reason to get organized and it’s amazing how liberating this is! Most of us put off getting rid of things we no longer need or use but once it’s done we all wish we’d done it sooner.
#3: Update Your Kitchen
Cost: $2,500 to $65,000 /Average Return on Investment: 62%
Sometimes if difficult to decide what to update in your house in order to gain the best return on your investment. Kitchens and bathrooms sell homes, but what if you have a limited budget and can only afford to make small improvements? You have to choose wisely in order to make a big impact. If you can’t afford to replace your cabinets then consider painting them and updating the hardware. Can’t afford new granite? Local home improvement stores offer several options from laminate to low cost butchers block countertops. Update your faucet and sink and you’ve just improved your kitchen for under $2500.
The average return on investment for an updated kitchen is 53% – 81% according to Remodel Magazine. Updating kitchen flooring is also a good idea, but no matter what your budget is, it’s easy to make some quick and easy updates that make a big impact.
If you have a little more budget then it’s smart to include new appliances. New homeowners love new appliances because it ensures they won’t need replacements for several years. A few thousand-dollar investment can make all the difference in the final selling price and in the number of offers you receive.
If you have no money in the budget for a kitchen remodel there is still something you can do to make your kitchen appealing, deep clean the area. You should also clear off the counters, eliminate clutter and remove any standing appliances that take up valuable counter space. This helps open up the space and encourages the buyers to see the potential of the space.
#4: Update Your Bathrooms
Cost: $2,500 to $40,000/Average Return on Investment: 59%
Bathrooms are the second area that sell houses.
If you can’t afford to completely remodel the space simply replace the toilet and the vanity and buy a new faucet. These updates along with an inexpensive light fixture, a new shower curtain and professionally cleaned grout can make a relatively small investment look like a brand-new bathroom. You’re likely to see an average of 59% to 75% return and at the very least you’ll send the message that the house has been well maintained.
#5: Paint
Cost: $35 to $2000 /Average Return on Investment: 200%
Painting is the single most cost-effective way to update a space and increase the value of your home. If you aren’t willing or able to do it yourself call me today for a list of painters I’ve worked with in the past. (I always suggest you get three quotes prior to hiring a contractor and also verifying references but there are a lot of good people out there.)
As for paint I think everyone has their own preference. I’ve used Sherwin-Williams paint for the past three houses we’ve owned and have always gotten great results. Check out the latest color pallets on Sherwin-Williams website at www.sherwin-williams.com and see below how simple, neutral colors can completely redefine a space.
#6: Replace the Carpet/Refinish the Floors
Cost: $500 to $15,000 /Average Return on Investment: 75% to 150%
If you have animals living in your house buyers can usually tell. You need to replace anything that holds an odor or is visibly damaged in your house. Floors take the brunt of animals living with us and if you can smell it or see it so can potential buyers. Replace carpet that is visibly stained or worn out. Have hardwood floors refinished and replace outdated damaged engineered wood with new flooring. If you list with me, I can provide several options for contractors who specialize in flooring (again, always get 3 bids before committing) and my broker is also a builder and we can pass discounts onto our clients. Don’t let stinky carpets and damaged floors keep you from selling your home for top dollar.
#7: Increase Your Curb Appeal
Cost: $250 to $2,500 /Average Return on Investment: 125% – 350%
Mulch is worth its weight in gold when it comes to cleaning up your outdoor space. Several hundred dollars in mulch can completely transform the front of your home and create an inviting first impression. Weeding flowerbeds and replacing dead plants are simple ways to increase your property’s value. Don’t have a green thumb? Consider our local Farmer’s Markets and pick up some premade flowering planters. I’m big in buying local and supporting local farmers in Michigan and my personal favorite place to buy plants is Eastern Market in downtown Detroit. You can get a wide variety of beautiful flowers at great prices and really stretch your landscaping dollars. I’ve found that several of the vendors deliver and are also willing to complete all the hard work at really reasonable prices. It’s also a great excuse to spend a beautiful Saturday morning in downtown Detroit!
In closing…
I hope you enjoyed my post and learned a few things. If you are considering selling your house this spring call me today to start a discussion. Not only can I suggest updates, but I also can help with staging, organizing and analyzing the market to come up with a competitive price. Once we have the paperwork in place to get your house listed I’ll use my expertise to develop a customized social media marketing campaign targeted at thousands of local buyers. My video marketing and social media ads will to draw buyers to your property. My goal is always the same: Help sellers create the best environment; competitively price and actively market the house to generate multiple offers; and follow-up consistently until the deal is signed. Leave the details to me, I’ll strive to get you the highest return on your investment. For more information email me at jodi.weed@arterrarealty.com or call/text me at 734.215.5465. I’d love the opportunity to help you with your next real estate transaction!
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