It might take longer to prepare your home for sale this spring than it would have a year or two ago. The property market of today feels different. Compared to this time last year, there are more homes for sale, but the inventory remains historically low. Hence, if a home has been on the market for a while, that may be a hint that it isn't appealing to potential buyers. But consider this: Updated homes that are priced fairly are still selling quickly right now.
Homes with good curb appeal and presentation still sell quickly and occasionally for more than the asking price today. Danielle Hale, chief economist at realtor.com, claims:
"In a market where costs are still high and buyers can be a little choosier, it makes sense they’re going to really zero in on the homes that are the most appealing.”
It's time to start preparing your home for sale now that the spring buying season is quickly approaching. Working with a reputable real estate agent who can assist you in understanding which upgrades are most useful in your local market will also help you decide where to invest your time and money.
Curb appeal prevails.
Finding minor initiatives you can complete yourself is one method to give upgrades a higher priority that can provide a strong return on your investment. Usually, small improvements that increase your curb appeal are successful. As stated on Investopedia:
"Curb-appeal projects make the property look good as soon as prospective buyers arrive. While these projects may not add a considerable amount of monetary value, they will help your home sell faster—and you can do a lot of the work yourself to save money and time.”
Small cosmetic updates, like refreshing some paint and power washing the exterior of your home, create a great first impression for buyers and help it stand out. Find low-cost home improvement tasks you can complete around your property that will appeal to local buyers by consulting a real estate expert.
Not Every Update Is Made Equal
Remember that you are doing these changes and repairs for someone else when determining what needs to be done to your home before selling it. Above items that will appeal to you as a homeowner, give priority to renovations that will help you sell more quickly or for a higher price.
Remember to rely on your trusted real estate advisor for the best guidance on the updates you should invest in. The 2022 Remodeling Impact Report from the National Association of Realtors (NAR) highlights popular home improvements and what kind of return they bring for the investment (see graph below).
For the finest guidance on the updates you should invest in, never hesitate to consult your reliable real estate advisor. They'll be knowledgeable on the demands of nearby buyers and possess the most recent information about what your home requires to sell this spring.
To sum up
The time to prepare your home for sale is now as spring approaches. Let's talk today to determine which updates are the most sensible.