One of the most important decisions regarding preparing your home for the market involves where to spend money to maximize your bottom line. Clearly, there are places where money is well spent and other expenses that would be a waste.
How is it possible for “flipping” to occur? Investors can take a property, increase its value and make a profit even after the expenses of buying and selling are deducted. With the right decisions you can make this money and you may even get your home sold faster!
Short sales are of the few situations where I discourage clients from spending money on repairs. The lender will assess the property’s value in its current condition when deciding to approve the deal and any money you spend will go directly to the bank’s bottom line (and out of your pocket).
In general, the best places to see a return on your money are as follows: LANDSCAPING (to give your home nice curb appeal), FLOORING and PAINT (walls and ceilings).
Having sold hundreds of homes representing buyers and hundreds more representing sellers, I will help you decide where your money is best spent (if at all) and, if needed, can recommend contractors who can make it easy and affordable.
Renovations are different from the free and always recommended decluttering and depersonalizing that you can read more about in Staging 101.
Be advised that unless you’re selling your home in “as is” condition, all heating, cooling, electrical, plumbing and appliances need to be in normal working order. You’ll also need a home that has no live wood boring pests and working smoke or heat detectors.
