Preparing your home for sale this spring may require more effort than it would have in the past couple of years. The current housing market has a different vibe with more houses up for sale compared to the same period last year, albeit with historically low inventory. Therefore, if a house has been on the market for a while, it could be an indication that it is not meeting the expectations of potential buyers. However, presently, homes that have undergone updates and are priced correctly are selling quickly. Homes with attractive exteriors and that are well presented are also selling rapidly, sometimes even exceeding the asking price. According to Danielle Hale, the Chief Economist at realtor.com:
“In a market where costs are still high and buyers can be a little choosier, it makes sense they’re going to really zero in on the homes that are the most appealing.”
With the spring buying season just around the corner, now’s the time to start getting your house ready to sell. And the best way to determine where to spend your time and money is to work with a trusted real estate agent who can help you understand which improvements are most valuable in your local market.
Curb Appeal Wins
Investopedia suggests that to focus on updates that can yield a good return on your investment, you may want to consider tackling smaller DIY projects. These types of updates tend to enhance your home’s curb appeal and can be highly effective.
“Curb-appeal projects make the property look good as soon as prospective buyers arrive. While these projects may not add a considerable amount of monetary value, they will help your home sell faster—and you can do a lot of the work yourself to save money and time.”
Simple cosmetic updates such as applying a fresh coat of paint and power washing the exterior of your house can create a favorable first impression on potential buyers and make your property more noticeable. Collaborating with a real estate expert can help you identify cost-effective projects that you can undertake to increase the appeal of your home to buyers in your region.
Not All Updates Are Created Equal
When determining which repairs and updates to make before selling your home, it’s important to keep in mind that you’re doing it for someone else. It’s advisable to prioritize projects that can expedite the sale or boost the sale price, rather than focusing on things that personally appeal to you as a homeowner.
The 2022 Remodeling Impact Report from the National Association of Realtors (NAR) highlights popular home improvements and what sort of return they bring for the investment (see graph below):
Make sure to rely on your reliable real estate consultant for the most reliable advice on the renovations you should make. They will be aware of what potential buyers in your area are searching for and have the most up-to-date information on what your house requires in order to sell quickly during the upcoming spring season.
Bottom Line
With the spring season coming closer, it is the perfect time to prepare your house for sale. Contact us today to discover which renovations would be the most sensible and beneficial for your home.
Find out why Kaya Homes is the leader in Long Island Real Estate and are your go-to realtor in the Lynbrook, Oceanside, Malverne, Hewlett, Valley Stream, East Rockaway, Woodmere, Cedarhurst, Baldwin, North Woodmere, Woodsburgh, Hewlett Neck Hewlett Harbor, Bellmore,Wantagh,Merrick and Freeport area.
Tue, 21 Feb 2023 00:06:17 +0000
by Mottek Group