Published 3:28 pm PST Friday, December 26, 2003
Selling your home can be an emotional trial.
For most of us, it's our biggest investment. Beyond that, it's our home ... a place we've made our own, sometimes over many years. We've got an emotional attachment, lots of memories, and sometimes we don't have a realistic sense of its market value.
But when it's time to sell, there are some rules every seller should follow. You'll get through the process more easily and make the most for your investment.
When you're planning to sell
This probably is not the time to undertake those massive home renovations you've been considering for years.
Remodeling magazine says the average cost of a major kitchen-remodeling job nationally is $38,769, while merely updating a kitchen averages $14,773. The all-out makeover recouped 80 percent of its cost at resale time, the magazine said, while the update returned 87 percent.
Adding a bathroom costs $14,216 on average and returns 81 percent of its price at resale time, the magazine says.
So it looks like the time for those jobs was years ago -- when you could have enjoyed the improvements yourself. They don't make financial sense now as a way to sell your house.
On the other hand, a survey of real estate brokers last year by HomeGain.com found that the least-expensive repairs often result in the biggest returns.
The survey found "lightening and brightening" (repainting walls in light colors, removing heavy curtains and installing high-watt lights) cost an average of about $100 and returned 769 percent in increased value.
General cleaning and addressing clutter costs homeowners about $325 and returns 594 percent, the survey found, while the average fix-up of landscaping costs $400 or $500 and returns 266 percent.
How to sell
The financial and legal aspects of selling a home are complex. Most sellers hire a real-estate agent and pay a commission to get the job done.
You can save that cost if you have the time and knowledge to manage this important transaction. You'll also be responsible for placing ads, answering calls and showing your home to potential buyers. And buyers may insist on a lower price, knowing that you're not paying an agent's commission.
Be sure to consider the value the agent brings:
- Do you have the experience to price your home appropriately? A home priced too high can linger on the market and suffer lasting damage in marketplace appeal.
- A professional can help you market your property appropriately, including working with other agents.
- An agent's network can be invaluable. Studies by the National Association of Realtors show that 82 percent of real estate sales are the result of agent relationships -- previous clients, referrals, friends and family.
Don't choose an agent just because you know the person socially. Interview several and determine which are effective sales people. Interview the agents at your home and get their reactions to the property as well as their suggestions for improvement.
Never choose an agent just because his suggested listing price is the highest -- it may not be a realistic price.
How's it look from the street?
You've heard the term "curb appeal"?
You'll know what it means when you see a car slow down and crawl past your home once it's on the market. There will be buyers in that car making a snap judgment about your home based only on what they can see from the street. Make sure your home passes this first test.
Some suggestions to help your curb appeal:
- Keep the lawn and shrubs trimmed and looking their best at all times.
- Give the exterior of your home a good washing. You'll be amazed at the dirt and spider webs you'll wash away.
- Does the exterior need paint? Do it. Double-check the paint on the window casings and doors.
- Wash the windows. (You'll be doing this inside and out.)
- Are the sidewalks and driveway in good shape, free of cracks?
- Check the chimney, gutters and walls and address any problems.
Taking care of the inside
We've all visited model homes. They're usually decorated in a generic sort of way, with no true personality. They have less furniture than most of our homes. Everything is clean and in perfect running order.
Maybe you don't live in a model home, but you need to take those lessons to heart.
Start by trying to see your house with a stranger's eyes. Walk through every room and look critically -- is it appealing and spacious? Open every closet. Stick your head into every cupboard. Pull back the shower curtain. Pay attention to every faucet, every piece of plumbing. Be sure to visit the garage. Stick your head in the oven.
That's what buyers will do.
So what should you do? Think two words -- clean and spacious.
The house must sparkle -- immaculate windows, freshly cleaned carpets, retouched paint, a clean smell. Pay attention to the out-of-the-way places too. Nothing will be off-limits when a buyer comes calling.
Help make the house more spacious by removing furniture wherever possible. Imagine the family room without the recliner. If it's a plus, put the recliner in storage. You'll be amazed at how much larger this can make a room seem.
Getting rid of clutter is another essential. Clean up shelves. Empty the closets (they'll seem so much larger). Don't use the garage for this storage -- the garage needs to be spacious too.
Fix any dripping faucet or running toilet. Make sure the windows open easily. Oil any squeaky hinges. Change the heat and A/C air filters.
Company's coming
Create a mood when a buyer is coming to visit.
Fresh flowers are always nice. Potpourri in bathrooms creates a fresh, clean aroma. (Be sure to put out fresh towels and soaps.) Baking cookies or cinnamon buns gives the house a wonderful, homey smell.
If you're in the house while a prospective buyer visits, make yourself invisible. They don't need you to point out pluses of the home; they'll ask if there are questions.
Leaving buyers alone lets them imagine your home as theirs. Don't interrupt those imaginings. That's a buyer being born.
http://www.sacbee.com/content/homes/sell/story/8009854p-8946166c.html |
