Are you a real estate investor looking for a way to amp up the sale price of a property you have rehabbed? Maybe you have even been living in a property but are now ready to sell and enjoy the profits? Whether it is in North Dallas, Plano, Southlake, Keller or anywhere else in the area, there are some “tried and true” methods for easily boosting the sale price of a property.
This is an obvious tip, but one that many sellers skip. Staging is not an expensive or difficult tactic, and it begins with removing the non-essentials and de-cluttering. It is a solid way to depersonalize any space, and this is a great way of pricing a home at the best possible level. Why? It prevents potential buyers from seeing issues that don’t exist. They don’t like a wall color, the space feels small or dark, the house feels a bit grimy…these are all issues addressed with proper staging. Blinds are raised, lights turned on and windows opened for fresh air are just a few steps a good stager takes.
Think of this as a neutralizer that lets the potential buyers instantly visualize themselves in the various rooms and spaces, it is liberating and can boost their willingness to pay your asking price.
Many new real estate investors looking to sell one of their first properties overlook the importance of the exterior spaces. While you may not have the budget to do a full landscaping job or new paint job, you can enhance curb appeal by creating the most favorable impression possible. Trim those bushes and shrubs, get the yard tidy and trimmed, add some potted plants and a door mat…such small details pay off. A special area of interest should be the walk from the driveway to the main entrance.
Give Attention to the Bathrooms and Kitchen
If you are going to sink any funds into a property, the kitchen and bathrooms are the places to do it. Most experts say that renovations to these spaces will instantly boost your sale price by at least 7% or more. That is even with just some minor cosmetic work and not major renovations. Go with neutral hues to appeal to the widest range of buyers, update light fixtures and recondition or replace cabinetry for the most cost effective changes. If you have more in the budget for new fixtures such as sinks, toilets and cabinets, you’ll get good returns.
Clean and Detail
Another way to enhance the perceived value of your property is to have it thoroughly and professionally cleaned. Be sure you choose a firm that has great attention to detail. A home or property perceived as dirty or grubby is unlikely to sell at your price, or at all. Not only does a professionally cleaned property have a great look and scent, but it will often boost your sale price by anywhere from three to five percent. Just by cleaning windows, shutting toilet lids, scrubbing tile and countertops and all of those other tasks, you can easily increase the sale price.
Consider Small Maintenance
Just like dentistry, if you ignore little issues, they get worse and end up costing you. As you are prepping any property for a quick and profitable sale, keep in mind that the small maintenance issues should be addressed too. For example, a potential buyer is always going to look for things like roof leaks or old stains on ceilings, gutters that need to be replaced or those front steps out of alignment. Just remediate them long before you begin showing and they become small expenses that don’t end up costing you the best sale.
There are so many things you might think necessary for getting the highest price possible, but these simple tips should help you enjoy the greatest prices on your real estate investments in the North Dallas area.