Although you might not be the perfect housekeeper, appropriately âstaging' your home will help make buyers perceive your house as impeccable. As per Investopedia, "A consumer's perceived value of a good or service affects the price he is willing to pay."
Although this tactic does often work, it would not be prudent to overestimate the impact of staging. Once you have prepared your home for buyer exhibitions and walkthroughs, you might be tempted into thinking that your house is too good to go for the price you are currently selling it at, and so, you should charge more.
This is because, no matter how well you have staged your residence, charging an unreasonably high price is bound to deter potential buyers. At the end of the day, it does not much matter how much you think your house to be worth; it is the buyers' perceptions that make the real difference. Today, a purchaser is savvy - they would have researched property values within your neighborhood, and it is highly unlikely that they will fall for a price that is higher than that of the market.
So, the key is to find the sweet spot between staging your house for sale and agreeing on a fair selling price. Let us now discuss some tips to get your house in top shape to attract buyers and make them to produce legitimate offers.
Start with the kitchen
The kitchen is often the most popular room in a house. It's where you and your family spend most of their time, which is why you should begin your preparations and work on the appearance of the kitchen. Much like no one would sell a car cluttered with fast-food packets, wrappers, and paperwork, you should not endure regular clutter within your kitchen - or anywhere in your house.
Here are some effective tips that will help you get your kitchen ready for a buyer tour:
- Do not keep anything at the top of the refrigerator, apart from, maybe, a decorative piece. This helps prevent clutter. Also, get rid of all child artwork, magnets, or report cards that they contain.
- Clean the counter tops and make sure that they do not have any small appliance items.
- Get rid of the pot rack; keeping it gives the perception that there is a lack of storage within the kitchen.
- Conceal the receptacle for the kitchen trash and fit it into a cupboard or pantry.
- Make sure to get rid of any clutter around the kitchen sink. This includes sponges, bottles of soap, scrub brushes, rags, and anything else. Make sure to neatly organize them in a cupboard.
- Ensure that the contents of the refrigerator are organized. Buyers are likely to look inside, especially if you are selling the appliances along with the house.
- Rearrange the contents of the drawers and the cupboards, and make sure that you eliminate any large items that might make the space seem cramped.
Invest in your kitchen
If your budget permits, you should invest in your kitchen (along with the rest of the living areas of the house plus the exterior) - particularly in appliances, since they are what make buyers go gaga. So, if you are willing to discard your current dishwasher/fridge/stove combination, make sure that you buy new ones with clean and modern designs, along with energy-efficient options. You can also make other upgrades, such as:
- New faucets on your current kitchen sink.
- Changing the hardware of your drawers and cabinets.
- Getting new curtains and rugs.
- Use an attractive centerpiece to create a focal point.
Repairs Are Vital
It is imperative that you invest in repairs before you put your house up for sale - unless you want to sell it at a rock bottom price. If your residence requires major repairs, it is unlikely that any buyer will be able to get a loan to purchase it. Moreover, according to a recent study conducted by the National Association of Realtors, a large proportion of millennial purchasers do not have the desire or the money to make repairs in a house that they buy.
Here are some renovations that are bound to jack your house price up:
- The minor, obvious repairs, such as ratty carpets, dripping faucets, and walls that require patching. These repairs will help you with the staging process of your house.
- The replacement of insulation in the attic. Research says that this project returns 107.7% of its cost when the home is sold. In other words, this repair pays for itself.
- Get rid of your current front door and get a steel one in its place. On average, a steel door will cost around $1,400, and will help you recoup 91% of the value when you sell the house.
- Any improvement that can help reduce energy bills is bound to fly well with potential buyers. For instance, tankless water heaters or energy-star certified windows can keep your energy costs under control.
A kitchen is perhaps the most important space of any house. That is why it attracts great scrutiny from potential buyers. Spend some time inspecting your kitchen and decide what needs to be replaced or repaired.
For this reason, this article attempted to guide homeowners on the various aspects of their kitchens which they can address to attract a good price for their properties.
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