Selling Your Home for Top Dollar on a Tight Budget
Getting a good price for your home doesn’t have to mean spending a fortune installing granite countertops, sky lights or radiant floor heating. Instead, try out these tips for maximizing your home’s value without busting your budget:
- When it comes to making improvements, be careful about where you choose to spend your money. If you want to purchase new appliances for the kitchen and put hardwood floors in the master bedroom—but only have the funds to do one of these—improving the kitchen is your best bet in terms of resale value. Kitchen and bathroom upgrades consistently bring in the highest return on investment.
- Be sure to price your home competitively. It’s best to work with a realtor when determining a price for your property, as you will likely have an emotional investment in the home and may be tempted to price it too high—a mistake that could ultimately decrease its value if it sits on the market for too long. A better tactic is to price your home close to its market value, or even slightly below. A low price often brings multiple offers and could cause a bidding war—leading to a higher selling price than what you originally asked for.
- It’s important to stage your home so prospective buyers see it in the best possible light. Consider inviting a close friend or family member to your house and asking them to point out areas that could benefit from staging. They may be able to see problem spots or potential value-boosters that you didn’t notice simply because you’re so used to seeing your home as it is. An outsider’s perspective never hurts—and you may even find it beneficial to hire a professional stager.
- When it comes to staging, you don’t always have to spend a lot of cash. If your carpet has a few stains, professional cleaners may be able to work their magic so you don’t have to fork over the money for all-new carpeting. Aside from cleaning, painting is another cheap way to make a big impact on your home’s appearance. Choose a neutral color (other than white—which will make your home feel cold and lifeless) and use it to paint your entire home.
- Once your property is looking spick and span, it’s time to show it off! Before potential buyers come to look at your home, pull back any window blinds and turn on all the lights. Nobody wants to look at a dark, dreary home. Put out a vase with fresh flowers, and lay out some treats for your visitors to snack on. Food encourages prospective buyers to linger, and the more time they spend in your home, the more chance you have of getting an offer!