Maximizing Home Value

There are many potential ways to increase your home’s value before putting it on the market, but there are also some potential traps to avoid. Specifically, you want to invest in improvements that are most likely to yield a positive return on investment and avoid ones that won’t increase home value or speed of sale.

There can be scenarios where you might still want to pursue some renovations despite not being able to recoup the entirety of a home improvement project cost. This primarily arises when the current disrepair of your home will likely result in home inspection problems or make it difficult to sell the house in a reasonable time.

Many minor improvements can be made for a lower cost than full-scale renovations, like replacing countertops with affordable but attractive materials, like solid surface options. You may also be able to refinish kitchen cabinets or add a new backsplash for a reasonable price. These types of little modifications can add up to a modernized home that will be attractive to homebuyers. 

There are also some technical home selling strategies that can help maximize value, like setting the right starting price on day one and implementing effective marketing methods to attract qualified home shoppers.

Cleaning and Decluttering

Your approach to cleaning will likely be different depending on when you sell your home. If you move prior to showings, you may have an opportunity to empty the house and thoroughly clean all surfaces before home shoppers arrive.

If you start showing your home while you’re still living in it, you should strive to declutter as much as possible. You may benefit from removing family pictures, knickknacks or heirlooms to remove your own personality from the space. The goal is for potential buyers to envision themselves and their belongings in the home. Too much personality from current occupants can make that more difficult.

Clutter can also detract from what would otherwise be an attractive space. It can be difficult for homebuyers to see beyond the mess to the home underneath.

Enhancing Curb Appeal

There are a variety of low-cost and moderately priced exterior enhancements homeowners can make in the lead-up to listing their home. Mowing grass, pulling weeds, and trimming trees and shrubs may be enough to enhance the exterior appearance of your home.

Depending on the state of your home’s lawn, it may make sense to invest in new landscaping features, but that’s not always necessary to improve curb appeal. Repainting or replacing a front door, updating house numbers or adding lighting to pathways are other small, low-cost improvements that can make a house feel more inviting.

Keep Budget in Mind and Make Impactful Renovations in Bathrooms and Kitchens

A home seller’s goal should be to increase the marketability and sale price of their home without spending a lot of extra money they won’t recoup through a higher sales price. Replacing plumbing hardware, like faucets and showerheads, or replacing mirrors or vanities in bathrooms, can greatly enhance the look of a bathroom without requiring a full remodel.

Setting the Right Price Up Front

A home’s initial listing price can have a profound impact on the smoothness and speed of the process. Some homeowners assume there’s no downside to aiming high with an initial starting price, especially if they aren’t in a hurry to close the sale on their home. Unfortunately, this approach can have negative consequences. Buyers may assume:

• Homes that are on the market for many weeks or months are overpriced.
• There are hidden problems that aren’t immediately obvious until you visit the property.
• If the home was desirable, it would have sold already.
• The homeowner is desperate to sell and willing to compromise on price. They may put in much lower offers than the home seller would have received had they set a reasonable asking price upfront. 

Relisting isn’t always a cure. The stigma of being listed too long without a sale can persist, as that data is tracked on various websites and listing services.

72SOLD’s Approach to Maximize Sale Value of Your Home

Modifying your home isn’t the only way to increase its sale price. Reaching the right buyers with targeted marketing efforts and then strategically showing the property to instill urgency and competition among buyers can greatly increase the chance of receiving bids above the starting price.

We set your home’s starting price (not asking price) at full market value, as opposed to listing an “asking price” from which home shoppers assume they can negotiate down from.

Identifying buyers quickly, creating a sense of urgency, and setting a concrete floor at market value can help establish the popularity of your property and create a sense of competition among interested home shoppers. Buyers will be more willing to compete to maximize your eventual sale price.

If you want to learn more about how the 72SOLD system works, we encourage you to fill out the form on our website to get our price on your home.