When selling your home, you probably want to get the most money possible for it. Ultimately, the selling price comes down to one simple thing: the balance of supply and demand. If your home has features that are in relatively short supply and high demand in your market, your home will sell for more money (in less time!). Here are some home features that can help you not just meet your asking price, but exceed it:
1. Updated Kitchen and Bathrooms. The kitchen is often considered the heart of the home, and it’s also where you can expect a significant return on investment. Buyers in today’s market are looking for modern conveniences and stylish finishes. An updated kitchen with the latest appliances, a functional layout with plenty of prep space, and high-quality materials speaks volumes about the care put into the home. Bathrooms are another major selling point. They should not only be functional, but also offer a retreat-like experience. Updated bathrooms with features like double vanities, walk-in showers, designer tile, natural stone counters, and freestanding tubs are especially coveted and can make a difference in a buyer’s decision.
2. Open Floor Plan. Open floor plans have become increasingly popular, and the desirability and versatility of this type of plan is a major selling point for potential buyers. Without obstructive barriers, movement within the living space becomes easier, offering multi-functional spaces that can adapt to various activities, providing flexibility for different needs and occasions. Plus, by eliminating walls, an open layout gives the illusion of more space and maximizes the flow of natural light throughout the space, contributing to an expansive and airy feel in the home. Buyers are always going to be willing to pay more for homes that feel larger!
3. Well-Staged Furniture and Decor. Staging your home to get it ready for visitors might not count as a permanent feature of your house, but it can definitely affect your sale. A well-staged home helps potential buyers visualize themselves living there, boosting their emotional connection to the property. Buyers (particularly millennials who have grown up with HGTV!) lack the visualization to see a room that is full of dated, bulky furniture, and only want to see the ‘after.’ There are companies that can professionally stage your home, but there’s plenty you can DIY as well. Start off by decluttering and organizing. Remove everything besides the furniture, rugs, and decor. Ideally, these items will be neutral in color and style. Then, make sure your home is clean and touched up. Fresh paint, updated fixtures, and new carpet can go a long way towards buyers being willing to pay top dollar, instead of mentally deducting from the list price as they walk through the home.
4. Beautiful Outdoor Living Spaces. A well-maintained and inviting outdoor space can be just as important as the interior of the home. Decks, patios, or gardens that serve as extensions of the indoor living space are significant selling points. Outdoor kitchens, fire pits, and comfortable seating areas for entertaining can transform a simple back yard into an added bonus feature that excites buyers and attracts strong offers. Ideally, the exterior should be staged similarly to the interior. Create spaces so that the buyer can envision themselves entertaining or relaxing there by adding rugs, potted plants, or specialized lighting.
5. A Strategic List Price. Despite the strength of the current market for sellers, it is important that you don’t make the mistake of overpricing your home. Prices set unreasonably high may lead to a house lingering on the market, which can perpetuate the perception among prospective buyers that something might be wrong with the property. Even if you think your home is highly desirable, market demand is what will dictate just how desirable it really is. The key to creating a competitive environment that will result in the best price and terms is to start at a price where the number of interested buyers is large enough to make everyone feel like they have to compete for the house. Ultimately, you want buyers to walk through the home asking, “How much do I have to pay to win this house?”, instead of “How low of an offer do you think I could get the sellers to accept?”
Advertorial originally appeared in October 2024