Frequently asked questions
That is actually a great question. The thing to remember is that it doesn’t matter what price you want, what the tax assessment is, what your neighbor says you can sell it for, or what the house down the street sold for.. what matters is the true market value range; and that is determined by doing a market analysis.
FSBOs (For Sale By Owner) typically sell for less than the selling price of other homes; FSBO homes sold at a median price of $200,000 in 2018 (the same as the year prior), and signiﬁcantly lower than the median of agent-assisted homes at $280,000. Source: National Assocation of REALTORS® 2019 PROFILE OF HOME BUYERS AND SELLERS.
This will vary from home to home, but the best way to start is to clean it, paint it and get rid of the clutter. You don’t want any foul odors or unsightly stains. Unpainted walls in or out tells a buyer that the home wasn’t well maintained. Keep the kitchen, bath and closets with bare essentials. These few tips are a great place to start.
If you do any upgrades, it should be something that will add value, like improving the kitchen and bathroom. Think of things that would set you apart from your competition. For example, if your neighbor has standard countertops but you have granite.. yours would be an improvement over theirs.
Every situation is different and it depends on the repair. If it’s a hazard (electrical, gas, or could cause an injury) go ahead and fix it. If it’s something that may keep a qualified buyer from purchasing your home go ahead and fix that too. If it’s something that may fit in a negotiating strategy (for example: a tight market and multiple offers are commonplace with no repairs), then I would say discuss it with your REALTOR® and come up with a plan.
Curb appeal is basically the street level view of your home. When a buyer drives up you want to make an impression. The lawn should be cut and landscaping trimmed and neat. The front of your home should look clean and painted with windows clean. If your front door looks old and weathered, paint it. This will go a long way in making a good first impression with a buyer.