The home that you are living in right now has witnessed hundreds of moments with you, your family, and your friends. But when the time is right to let go of your treasured property, conducting a little research on the housing market and current housing demand would not hurt. In this article, I will provide several steps and ideas that you should take for your home to be presentable and ready for its next residents.
Study Your Property
Every property is valuable. The house that you are preparing to sell has its price, and it is determined by property appreciation. The appreciation entails what year you bought or built the house and what is special about its location in the city. The median price and median sale price in your area can significantly influence your property’s value.
For instance, if you buy a property in business districts or cities like Makati, Taguig, and Mandaluyong, you can expect that your house or condo apartment will increase in price. This is because the demand for business districts like Makati Central Business District (CBD), Bonifacio Global City, and Ortigas Center is continuously rising. However, inflated prices can affect the affordability and attractiveness of your property. Also, if your home is just a few minutes away from key landmarks such as world-class schools, companies, malls, parks, restaurants, and tourist attractions, expect that it will grow much more. If you want to know the estimation of your property, consult a Real Estate Professional. They are well-versed in the market and the valuation of a property in a prime location.
Make a List
Survey your home up and down. Carry a list with you. It is vital to have a home ready for an open house. Current housing supply and home sales trends can influence the types of updates and repairs that are most valuable. You now have to look for necessary repairs or updates to electrical systems, roofing, and flooring.
Check with your five senses as you enter each room starting at the front door. Ask important questions like: Is the curb presentable? What would homebuyers want as they enter the house? Is the entrance appealing? Are there any leaks? Is the foundation good? These are a few of the questions that you should ask yourself, especially when you are trying to attract prospective buyers.
Renovation is Key to Boost Home Prices
We talked earlier about property appreciation, but there are still dozens of options to increase home prices. Home builders are rapidly constructing new homes to meet market demands, and interest rates can significantly affect renovation decisions. You can do that by preparing and staging your home.
Renovations can significantly boost the market value of your property. Focus on key areas like the kitchen and bathrooms, as these are often the most scrutinized spaces by potential buyers. Modernizing these rooms with new fixtures, updated appliances, and contemporary designs can provide a substantial return on investment.
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Kitchen Upgrades
The kitchen is often considered the heart of the home. Kitchen upgrades can make a typical home more appealing to a typical family, enhancing its attractiveness in the housing market. Potential buyers will pay close attention to this area, so consider investing in modern appliances, new countertops, and stylish cabinetry. A fresh coat of paint and updated lighting can also make a big difference. Even small changes, like replacing outdated handles and knobs, can enhance the overall look. An open, functional kitchen layout is highly desirable, so if your space allows, consider removing a wall to create an open floor plan that integrates with the dining area or living room.
Bathroom Improvements
Bathrooms are another critical area that can significantly impact a buyer’s decision. Simple updates like re-grouting tiles, replacing old faucets, and installing a new vanity can refresh the space. In a balanced market, these improvements can help your home stand out by making it more attractive to potential buyers. For a more extensive renovation, consider adding a double sink, updating the shower or bathtub, and using high-quality materials like marble or granite for countertops. Good lighting and ample storage are also key features that can make your bathroom more appealing.
Declutter and Depersonalize for Prospective Buyers
Before showing your home to potential buyers, it’s important to declutter and depersonalize. Even in the event of a housing market crash, decluttering and depersonalizing can make your home more appealing.
Remove personal items like family photos, memorabilia, and collections. This allows buyers to envision themselves living in the space. Organize and tidy up each room, ensuring that it feels spacious and inviting. Renting a storage unit for excess furniture and belongings can help make your home appear larger and more open.
Deep Clean
A thorough cleaning is essential when preparing your home for sale. A clean home can help mitigate the impact of price drops in the market. Every surface should be spotless, including floors, windows, and appliances.
Pay special attention to high-traffic areas and make sure bathrooms and kitchens are particularly clean. Consider hiring professional cleaners to ensure that your home is in top condition. A clean home not only looks more appealing but also suggests to buyers that the property has been well-maintained.
Enhance Curb Appeal to Attract Buyers
First impressions matter, and the exterior of your home is the first thing potential buyers will see. Enhancing curb appeal can make your home more resilient to market fluctuations, including a potential housing crash.
Make sure your lawn is well-maintained, trim bushes and trees, and add some colorful flowers or plants to create an inviting entrance. Power wash the driveway, sidewalks, and exterior walls to remove dirt and grime. A fresh coat of paint on the front door and updated house numbers can also make a big difference.
Professional Staging
Consider hiring a professional stager to help showcase your home’s best features. Even in the event of a market crash, professional staging can help your home stand out. Stagers are skilled in arranging furniture and decor to highlight your home’s strengths and create a welcoming atmosphere.
They can help you choose the right colors, furniture placement, and accessories to make your home more appealing to a broad range of buyers. Current mortgage rates can also influence the effectiveness of professional staging, as they impact buyer affordability and demand. A well-staged home can often sell faster and at a higher price.
Negotiation
Once your home is ready and listed on the market, be prepared for negotiations. Understanding current market trends, mortgage rates, and buyer demand can help you set a realistic price and negotiate effectively.
Work closely with your real estate agent to navigate offers, counteroffers, and closing details. A strategic approach to negotiation can ensure you get the best possible price for your home, even in fluctuating market conditions.
Preparing your home for sale requires careful planning and attention to detail. By studying your property, making necessary repairs, renovating key areas, decluttering, deep cleaning, enhancing curb appeal, and considering professional staging, you can significantly increase your chances of a successful sale. Investing time and effort into these steps will help ensure that your home is attractive to potential buyers and ready for its next chapter.
Author Bio
Emman Bernardino is a Content Writer at HousingInteractive. He currently focuses on SEO and blog writing. He enjoys driving on the open road, watching documentaries and historical films, or even playing video games when he’s not working.
