Before and After
After calling a house a home for 20 years it is difficult to remove yourself from that attachment to see the home objectively. You see memories in every room and every imperfection has become part of the home itself. When a buyer is walking through a home, they don’t know any of the stories- they are trying to imagine creating their own memories in that home and so they often see every imperfection amplified.
When you make the decision to sell your home, your first step is to remove as much of the home’s “story” as possible to try to create that blank slate for the new home buyer. That means removing your own personal style and touches to make the home appeal to a wider audience and not just someone who might share your same décor choices.
Additionally, 20 years of living in a home can cause a lot of wear and tear. Since this happens so gradually, you tend not to notice when the little things start to pile up. This can decrease the value of your home – but there is good news! For a small investment of time or money, you can easily INCREASE the value of your home to top dollar in the current market.
I recently had the pleasure of working with a wonderful couple. They purchased a home early in their marriage, they raised their daughter, worked hard and loved their home- but eventually, their home no longer fit their needs and they needed a change. It was my honor to help their search for a new home that had everything they needed and after 3 months of searching we found the PERFECT home – everything they needed, and even a couple bonuses they didn’t know they always wanted. Now that they were settled in their new home, it was time to sell the one they had loved for the past 20 years.
We walked through the home together and discussed what it was worth in its current condition, some minor changes they could make with time and sweat alone, and what they would need to invest in the home to make the home desirable in the current market at top dollar.
After some consideration, they made the decision to invest a little time and money to get the most out of their investment, and I am happy to report that it has paid off!
When we first walked through the home, the age and heavy usage was apparent. The carpet was worn and stained (as happens when you live somewhere for 20 years and raise children!). Décor choices had faded from popularity, and dings and dents were present in walls and baseboards.
Our estimation of the current home value, in the present condition was $219,000. Option 1 was to list the home “as-is” as an investor special and let the new owners take on the work of renovations and upgrades.
Option 2, was to replace the kitchen flooring as there was damage to the current linoleum, to repaint the kitchen and master bedroom and to give the whole house a good thorough cleaning inside and out. We estimated with these minor changes, we could list and sell the home at $230,000.
Option 3, and the one my seller’s decided on was to repaint the main floor and basement; replace all the flooring on the main floor with Vinyl plank, and bathrooms with new tile; replace the older stove, oven & hood to match the newer refrigerator and dishwasher, and complete a good through cleaning inside and out. With all of that completed to satisfaction, we felt we could list the home closer to $260,000.
After only 3 weeks of work, and a small investment, we re-ran the comparable sales in the area and compared the updated condition of the home now with the recent sales. We felt the home was now valued at $270,000 and we went live with the listing.
There was a lot of interest right off the bat and we received 2 offers on the first day! However, both offers were “sight unseen” which can create some issues later on. By accepting these offers, only for them to possibly be cancelled a few days later, we could miss out on the showings for potentially dozens of other interested buyers. To keep our momentum and allow as many showings as possible, we declined those first 2 offers and invited those buyers to view the house as soon as they were able.
After a full week of showings, we were very pleased to accept an offer at Full Asking Price, and the transaction closed so the new buyers were able to enjoy their new home by Thanksgiving!
When you are ready to sell your home, I would be honored to help! I can advise on how to increase your home’s value, increase your listings visibility, negotiate on your behalf and get you the BEST price for your home, while guiding you through the process to minimize the stress. I am ready when you are, give me call!
The impact of light renovations and professional photography -Click below to watch the video!