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When selling a home and aiming to maximize its value, focusing on strategic improvements and presentation is key. Here are the top five things that can significantly add value to a home and help you sell for top dollar:
(Statistics gleaned from NAR, Zillow, Redfin, Reader’s Digest, Home Depot, etc.!)
1. Enhance Curb Appeal (Sell for up to 10% More)
First impressions are crucial, and the exterior of your home is the first thing potential buyers see. Enhancing curb appeal can make a lasting impact.
- Simple Landscaping: Trim bushes, add flowers, and ensure the lawn is well-maintained. A tidy, appealing garden can increase perceived home value by up to 10%, and basic landscaping can provide a 238% return on investment (ROI)
- Exterior Paint Colors: Neutral tones, such as light gray, greige (gray-beige), and white, are top-performing exterior colors that help homes sell faster and for higher prices. Studies from Zillow found that homes with these colors tend to attract more buyers. Additionally, homes with a black or dark gray front door can sell for as much as $6,000 more than expected(
Conversely, homes painted with bright or unconventional colors like yellow can sell for as much as $3,400 less.
- Updated Front Door and Lighting: A new door or hardware and updated light fixtures at the entrance can make the home feel modern and inviting. A wreath on the door, plants on the porch, and a doormat could make all the difference!
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2. Staging the Home
Staging helps potential buyers envision living in the space and can lead to faster and higher-priced offers.
- Declutter and Depersonalize: Clear out excess belongings and personal items. Buyers want to see themselves in the space, not the seller’s lifestyle. You need buyers to look at the home, not the homeowner’s stuff.
- Neutral Color Palette: Repainting walls with neutral tones like white, gray, or beige can appeal to a broader audience and make the space look larger and brighter.
- Furniture Placement: Arrange furniture to highlight the home’s best features, like large windows or an open floor plan. Too much or too little furniture can detract from a room’s appeal. The floor plan needs to make sense!
Real Estate Agent Pro Tip: Staged homes sell up to 20% faster and for 6-10% more. Focus on staging high-impact rooms like the living room, master bedroom, and kitchen.
3. Kitchen and Bathroom Updates (ROI up to 80%)
Kitchens and bathrooms are high-priority spaces for home buyers; even minor updates can lead to significant returns. According to Remodeling Magazine, a minor kitchen remodel yields an 81% ROI, while bathroom updates can offer up to a 70% ROI
- Example: Several studies have demonstrated that swapping out outdated kitchen countertops for quartz or granite or upgrading kitchen hardware and lighting can cost as little as $1,500 but add up to $6,000 in resale value.
- Broker Insight: Focus on high-impact, budget-friendly updates like refinishing cabinets or upgrading energy-efficient appliances. Homes that offer “move-in ready” kitchens and baths are much more attractive to first-time homebuyers who prioritize convenience.
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4. Energy Efficiency (Sell Faster and Appeal to Eco-Conscious Buyers)
Energy-efficient homes appeal to a growing segment of buyers concerned about sustainability and lower utility bills. According to the National Association of Home Builders, energy-efficient windows can recoup up to 78% of their cost. Similarly, homes with solar panels sell for 4% more than those without.
- Example: Adding Energy Star-rated windows, doors, and smart thermostats can increase the sale price while reducing days on the market. In California, homes with solar panels sold 20% faster than homes without them(
- Tip for Real Estate Agents: Highlight energy-saving features in your listing, especially in markets with high energy costs. Use language like “savings on utilities” and “eco-friendly upgrades” to attract eco-conscious buyers.
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5. Fresh Paint and Flooring (107% ROI on Paint)
Zillow’s analysis shows that homes painted in neutral tones like light gray or “greige” (gray-beige) sell faster and appeal to a broader range of buyers.
Similarly, interior paint offers a 107% ROI, making it one of the highest-value improvements.
- Example: A home with freshly painted interiors in neutral tones can boost perceived cleanliness and modernity. Investing $1,000-$2,000 on a fresh coat of paint can add $2,000 to $4,000 to the final sale price.
- Flooring Insight: Upgrading to hardwood or luxury vinyl plank flooring can add another $5,000-$7,000 in value, depending on the home size and market.
Additional Tips for Maximizing Sale Price:
- Photography Matters: Professional real estate photos can help homes sell 32% faster than homes with amateur photos. It starts with making a buyer or their buyer’s agent want to see the house in the first place. Nothing is worse than tiny iPhone pictures, dark pictures, or pictures highlighting the negative things in a home.
- Virtual Tours: Listings with virtual home tours or high-quality video walkthroughs receive 50% more inquiries from potential buyers.
- Flexible Showings: Offering flexible home showings and hosting open houses on weekends can drive more foot traffic, speeding up the sale process. Buyers have to see it to buy it!
By implementing these powerful strategies, sellers can maximize both the sale price and the speed of their home’s sale. Real estate agents, brokers, and salespeople who focus on high-impact updates, leverage modern technology, and communicate clear ROI to sellers will have a competitive advantage in today’s market.
