I get it. It’s overwhelming knowing what to do to make your house “pop” and stand out. How do you know which updates are worth making, and which updates would NOT make sense? It can also be expensive. Many times, there are minor cosmetic changes that can be made to increase the home’s overall Aesthetic appeal. As a seller–or even as a seller’s real estate agent–it can be tempting to leave those decisions to the buyers, price it “as is,” and sell it for a decent profit. This strategy works for newer homes, but for older homes (2013 and below) that need aesthetic improvements, many sellers don’t realize how much money they are leaving on the table by leaving these quick improvements for the buyer.
Here’s an example:
In March, I performed a Comparative Market Analysis (CMA) for a client. A CMA is an evaluation of the prices of current homes that are listed or recently sold within a specified area. The “As Is” price would have been around $117,000. I developed a plan by which the client would spend roughly $7000 on improvements (paid at closing out of the proceeds of the home) such as new carpet, paint, and various other repairs, and a professional cleaning. After the improvements were made, we listed the home for $145,000 and the home sold for $147,000. The seller was able to pay off all her debt with the increased equity that we were able to create very quickly, pre-sale. We were able to add $30,000 of market value to the home by taking about 30 days to properly prepare the home for sale. This seller went from thinking we were going to need to short sale, to being debt free!
Click Here to learn why selling “As Is” actually benefits the buyer, and NOT the seller.
Questions? Contact us to let us know how we can help you!