I want to sell my home at a price that will cover some of the money put into it(fence,roof,electrical update).Unfortunately homes in the area are selling very low or at forclosure causing my home value to drop too. It does not help that the home needs a driveway and other updates.It is a 1950 ranch home-clean but out dated.What low cost things can be done to improve the value of the home so there is not a huge loss at sale?
Sara
The best person to help you is a local Realtor who knows the market, knows your home, and your personal situation (when you need to move, how much you expect to net when you sell, etc.).
For example, if most of the homes in your area are like yours (1950s ranch, clean, but not updated), then they can suggest options that will help you get the most for your home.
Here is an example of what not to do: I was asked by a seller to help them get their home sold when it failed to sell the first time. She had invested $6,000 in a new master bath. The bath looked great, but the real issues were that the home desperately need a kitchen update, new carpet, and paint. Had she invested the money in these more visible items, people never would have noticed the bath.
So it's not how much you spend, its where you spend it. Just because they always says the highest return is on bathrooms and kitchens, they are also the most expensive.
Sara,
You are not alone in youe delema. Many sellers find themselves in the same situation.
Let us offer that fresh paint, gardening, and a little organizing can make a big difference in how your home appears to the buyers and can be accomplished with low costs especially if you can provide the labor for these initiatives.
Secondly, it's important to understand and accept where the typical buyer's attantion is focused. Since the kitchen is a major piece of family living most buyers will immidiately gravitate to this area. If it's clean, efficient, and up to date, you are on your way to holding their attention. We are not saying it's necessary to install a new kitchen but to consider making adjustments that will enhance this location.
The impact of fresh paint, new pulls and granite can transform an otherwise tired location.
The next biggie, are the bathrooms......definitely an area that needs to be spotless and frest. Spend some time here and attempt to make the same impression as in the kitchen.
Many people have their homes furnished to meet their family needs. Unfortunately, this often means over furnished and cluttered, many times making an area appear smaller than it really is. Spend fome time considering an efficient arrangement of furnishings that will allow the potential buyers to view the area for what the space truly provides.
Best wishes on your sale.......
The Eckler Team
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