Sellers are always looking for top dollar on the sale of their home but sometimes they make some mistakes that could devalue their home and cost them dearly.
Yes, you know that a home should be show-ready which likely isn’t the way you live in it currently. That means you’re going to have it staged. You’ll keep cords, appliances, and nicknacks packed away in boxes so the counters are clutter-free. You’ll open the window shades and let the light shine in to make your home feel light and bright. You’ll have some sort of nice aromatic fragrance that is appealing but not overwhelming wafting around. You’ll take out your pets on days when the home is being shown and leave no signs of four-legged friends around the home. Okay, those are just some of the things that, hopefully, you’re doing before showing your home to potential buyers.
But what about the things you’re not doing that could be causing buyers to offer less money or, worse, pass up your home entirely? Some of these things you’ll have control over while others you may not.
Lots of foreclosures. A home that’s being sold in an area where there are lots of foreclosures will likely be selling for a lesser value. Often the neighborhood isn’t kept up. The homes that are in foreclosure may have also been neglected and may be in desperate need of maintenance. Perhaps the high foreclosure rate is why you’re selling your home. A study by Massachusetts Institute of Technology found that the value of homes within 250 feet of a foreclosed home, on average, decreased by 1 percent for each foreclosure.
Poor landscape. I’m sure that you’ve heard of curb appeal. Well, don’t underestimate its importance. If the front yard isn’t kept up it can devalue your home by 5 percent to 11 percent. Likewise, a pristine yard can increase it by that much. You should note that this doesn’t just apply to your yard. If your yard is perfect but your neighbor’s yard is a mess, buyers will still offer less money, believing that the neighborhood isn’t well-maintained.
Bad paint jobs. You could also add wallpaper to this. Bad paint jobs, interior and exterior, can devalue your home. This is a relatively easy fix. Paint before you list your home for sale. Don’t leave chipped paint and other unsightly marks on the walls of your home for buyers to see. This often gives them a feeling that the home is dirty and not well-maintained.
Leaky faucets and broken windows. Some of these things don’t cost that much to repair such as a leaky faucet but, when left dripping, and seen by buyers, it can leave a bad impression. Buyers will seek to have it fixed and maybe even submit a lower offer because they feel that the home may have other hidden problems.
When selling your home, just like dating, aim to impress – clean up, turn on the charm, and romance your buyer.