Selling Your Property? 3 Ways You Can Maximize Its Value

September 20, 2018

The Florida real estate market is a competitive one. Tens of thousands of houses are currently for sale in the Sunshine State and, with approximately 19% of all residential properties vacant, more and more are being listed every month. Good news is that house sales have gone up considerably in comparison to last year, so if you are evaluating a decision to put your property up for sale, this may be just the right time to do so.

Still, when you’re selling a residential property, your goal is seldom to just get rid of it. Naturally, you want to find a client who is willing to pay the highest possible price. Of course, the current condition of the real estate market in your area will have a huge influence on the final price you can expect your house to sell for. However, there are certain steps you can take to increase its resale value. It is understandable, though, that you may not have time or money for a full-scale renovation of the property you’re planning to sell. That’s why the tips we provide in this blog are not only practical and proven, but also simple, cost-effective, and time-efficient. Below, we present 3 ways you can maximize the value of your property.

Clean, Declutter, Depersonalize

Cleaning is probably the simplest and most effective thing you can do to make your house more presentable and thus increase its resale value. A clean house will sell remarkably better. According to Consumer Reports, cleaning can deliver a 3% to 5% return on investment while it doesn’t entail a considerable expense of time or money.

The importance of decluttering your house – i.e, getting rid of unnecessary items – cannot be overstated either. You should aim at creating as much free space as possible. This will not only add to the impression of cleanliness, but it will also make it easier to stage your house for maximum sales appeal.

Depersonalizing means you will have to make some tough choices with regards to design and decoration. You should be realistic, though, and realize that potential buyers may have tastes widely different from yours. Leaving some highly personal items or extravagant decor elements in plain sight may not only put potential buyers off, but it could also make it harder for them to imagine themselves living in your house – and if they can’t do that, they’re much less likely to buy it.

If You Make Repairs, Make the Right Ones

As mentioned, you only have so much time and money to prepare your house for sale. This means that if you want to make repairs, you will have to choose the fixes that will offer the best returns. For example, it is recommended that you focus on renovating the kitchen and the bathroom, as this can increase the value of your property by as much as 7%. The easiest way to freshen up these spaces is to repaint them – preferably using neutral colors to increase the room’s appeal for the greatest number of potential clients.

Consider Home Staging

Staging your property for sale is about creating the most appealing impressions that will make potential buyers fall in love with your house. It goes beyond cleaning and reorganizing furniture. Home staging focuses on small details so that your house looks brighter, warmer, or more spacious. It employs simple yet sophisticated tricks such as rearranging the furniture in eye-catching clusters or adding unique elements to shelving or bookcases to draw attention to areas you want to highlight. Even though home staging doesn’t seem complicated at face value, it requires a considerable skill and experience. For the best effect, you may want to consider hiring a professional stager.

The Bottom Line

Even if you’re limited by your budget or time constraints, you can do a lot to maximize the resale value of your property. The key to success, however, lies in striking the right balance between making some of the adjustments and preparations yourself (like cleaning and decluttering the house) and hiring a professional when it is called for (like with home staging). In any case, you should remember that selling a house may take longer than you expected and have realistic expectations about it. In time, your patience will surely be rewarded.

Additionally, did you know that working with a real estate attorney on the sale of your house can make it go smoother and faster? Contact Schlegel Livingston, LLC today to learn how you can benefit from having your interests represented by one of our lawyers.