Preparing Your Home for Sale

Here's the problem: Many people loose weeks of valuable time and thousands of dollars when they are trying to market their home, because they either don't know how to prepare the home for marketing or because they are unwilling to prepare it.

We can't help you if you are unwilling to prepare your home. However, we can let you know some of the best things to do to get it in market condition.

Of course your home will sell sooner or later and at some price. That's a given. Just remember that price can compensate for anything. You can take the most unattractive home and, if it is priced low enough, it will sell quickly. But, a better approach might be to spend some money on the home and get it ready to net the maximum amount the market will support. We've found over the years that a good rule of thumb is that for every dollar you don't spend on needed fix-up, you have to lower the price five dollars to compensate for the poorer condition.

Our general approach is to list the home first and begin marketing while the owner fixes the least expensive things. This usually is a good way to go because it takes at least a couple of weeks to get the marketing going and that allows the seller to complete the fix-up. There are many things that cost nothing except a little time and effort. These are the ones that should be done first. You may have to do some more expensive things also, but this depends on the condition of your home.

The important thing to keep in mind is not to plan extensive structural changes or remodeling which will not generate an adequate pay back. There are some things you can do which will not generate a penny more in resale value. For example, replacing your roof. As long as there are no leaks and the roof isn’t in such poor condition that it is unsightly, this is a bad idea. The buyer won't pay any more for a home with a new roof than they will for a home with an older, leak-free roof. This is a fact. Yet it is a common misconception that a new roof or new windows or a new whatever will help the house sell for more.

Here's another example that might make this clearer: take two identical homes, one at the bottom of a hill and one at the top. Both have water wells. The one at the bottom has a 100' deep well to reach the water table, the one at the top of the hill has a 200' well. The 200' well obviously costs more than the 100' well, but a buyer won't pay a penny more for it because both houses are identical to the buyer since water comes out when you turn the tap. A new roof and an old roof are identical since they both keep water out of the house.

The most important piece of homework to do is for you to understand the market and the competition - this is how we can help. We're out in the market every day showing homes to hundreds of buyers. We know what they are interested in and what turns them off. That's why our advice on preparing your home can be worth thousands of dollars to you.

Finally, you must keep your goal in mind. Here it is: To get the maximum payback both in time and money for the minimum amount of money and time spent in preparation.

Remember that the following are general guidelines only. We'll be pleased to give you specific recommendations when we provide you with a post-listing preparation report. Please note that we provide this consulting service after we have listed your home.

De-cluttering - Chances are your home is cluttered. Too many pictures on the walls, beanie baby collections, too much furniture for the size of the rooms, too many magazines on tables, too many decorations showing, etc. But, how do you know? This is one of the hardest things to attend to, and yet it is one of the best and easiest in terms of effect and return for your time.

To get a good idea of how your home needs to look, spend a weekend and visit model homes that have been staged by professional decorators at builder's model centers. Secondly, talk to us. Just remember that you have to pack anyway, so you might as well get started now.

Cleaning is the second most important thing to do - both indoors and outdoors. Inside, the carpets might need to be replaced and the walls might need to be repainted if they are very bad, but, if they aren't, you need to have the carpets professionally cleaned and wash the walls. Clean the closets and cupboards and make the house shine! You'll be glad you did. Outside, you must pay special attention to the entrance of the home. Is the sidewalk mildew covered? Are there cobwebs around the front door? The entrance is the most important part, since it creates the first impression and sets the tone for what is expected inside. How about the pool? Is it clean and inviting or somewhat shabby? It can be an asset or a real problem depending on condition. How about the lawn?

Pets impact the home in two ways: through their effect on the condition and cleanliness of the home and through their nuisance and defensive aspects. Some people are very allergic to cats and, less frequently, to dogs. If the pet is defensive and hostile to strangers, this will have to be dealt with. If it jumps on strangers or barks, this can also be a problem. Some agents are afraid of dogs and simply won't show a house with a dog present. We know that some dogs will jump on strangers and some may actually get so excited that they puddle on the floor and any shoes in the way! What a negative experience for the fastidious buyer!

Odors can be dealt with by cleaning and by using a vanilla or cinnamon air freshener. This can be one of the easiest and least expensive fixes and it can be critical. Believe us, it isn't easy on you when you hear through your agent that some buyer thinks your house stinks!

Ease of showing the home is also very important. This runs on a scale from "vacant with a lock box so show anytime" through "owner occupied with a lock box and alarm system, show with a courtesy call" to "listing agent or owner must be present to open the house, disable the alarm and restrain the pit bull." The easier the home is to show, the better.

Painting is often necessary. It doesn't cost too much and it has a huge effect. And, don't think that the buyer may not like the color choice and will probably repaint so you don't need to go to the effort. That type of thinking will usually cost you a bundle. If the paint is peeling outside and there is rotten or water damaged wood or siding, you simply must paint. Ask us what the correct color is. Don't paint it pink or blue or gray in today’s market. Inside, you can sometimes get away with retouching, but new paint more than pays for itself. Even the odor of fresh paint can hide other smells in the home. The biggest painting payback is to paint the garage floor with concrete paint. Of course, you have to clean the garage first, but buyers really seem to like that clean floor!

Curb Appeal is an old real estate phrase that refers to how attractive the house is when you pull up to the curb in an automobile. Hedges and trees can have a huge effect - we're prepared to give advice, but every situation varies. Generally, trim the hedges and don't let them contact the surface of the home. Make sure that low branches don't obscure the view of the home from the street. Is the roof mildew covered? Get a professional home cleaning company to do a low-pressure chemical clean of the roof and possibly the outside of the home. It will look years newer and much better. Colorful flowers are very nice around the foundation and near the front door.

More serious problems fall into two categories: fixable and non-fixable. Examples of non-fixable problems are poor locations, outdated floor plans, other functional problems, or poor neighborhoods. A home that backs to a busy street will never sell for the same price that one which backs to a conservation area will command. Older homes have older floor plans and architecture. You might be able to modernize the look of the home slightly with paint and other things, but you can't cost-effectively convert 8' ceilings to vaulted ceilings. Common sense is necessary here. Homes with 1 bathroom may actually benefit by adding another bathroom, but this varies with the location and market and neighborhood.

Fixable problems can be related to location and functional problems, but can be addressed by creative steps. The best example we can think of is one that happened to us. We were asked to consult with an owner who had a beautiful house that had been marketed by another agent for almost a year. We kept the price the same, but had the owners tear out a low hedge along the back of the pool and replace it with tall wax myrtles. This step had the effect of masking the pool from the rear neighbors’ 2nd story windows. This added privacy helped the home sell in 3 weeks for top market value.

Other miscellaneous items are: clean outdoor furniture, weed the front yard, straighten gutters, oil squeaking hinges, keep the kitchen sink clean and free of dishes, keep counter tops clear, clean the oven, clean the light fixtures, dust, clean the top of the refrigerator, keep bathrooms clean and picked-up, install new washers on dripping faucets, light the whole house, hang mirrors where they will reflect outdoor light.

Selling the home requires considerable preparation for best effect, but if you do it correctly, you'll benefit by a shorter market time and by getting more money for the home. In addition, you'll benefit by having to devote less time to preparing the home for each individual showing. So, get going and good luck!

If you'd like a competitive price analysis of your home, just give us a call. Remember we'll prepare a "hit-list" of items that need to be addressed when you list your home with us. We can be reached at (407) 352-5800 x 611. You should also visit our Internet site at www.centralflorida-living.com.