Prepare your home to command a premium price

by Hugh Hardy

Available Articles

• Article Index
• Are you "signing your life away"?
• Buying new versus resale
• Choosing a Realtor - What does it take to sell your home?
• Don't push the river!
• Getting the most from your Realtor
• Home ownership is part of smart money management
• Knowing your strengths and weaknesses
• Let's talk about commissions
• Open vs Closed? Making the most of your mortgage
• Prepare your home to command a premium price
• Real estate trivia
• Recognizing the paper tiger
• The easy way to buy a custom home
• The importance of pricing right
• The value of a buyer's agent
• Two safe ways to trade up
• What does irrevocable really mean?
• What to expect from your agent when you buy
• What's a Chattel, What's a Fixture (and why should I care)

Over the more than 10 years that I have spent selling real estate in this area, there are certain factors that I have noticed help houses to sell - or not sell - as the case may be. Some things have to do with the condition of the house itself, some have to do with the way that the house is marketed - the "marketing strategy". Many of the factors that help a house to sell seem obvious, but I will repeat them here because it is amazing how many of these factors - even things that are very simple to do - are often overlooked.

Let's start with the preparation of the home for resale and leave marketing for our next discussion. I know that everyone has seen lists of suggestions as to what should be done to prepare for resale. I always know when I enter a home for a showing, and there is the smell of vanilla or potpourri, that the Vendor has been reading somebody's helpful hints!

To my mind, virtually all of the preparations that can be made to a home for resale are things that make the home seem inviting, comfortable, and the kind of place where one would want to live. If a potential purchaser does not feel "at home" in your home, then they likely aren't going to buy it - even if it is suitable from a "needs" point of view. Also, well-maintained and clean homes often fetch a premium price - and this shouldn't be overlooked!

Right at the top of the list is the need to make the home feel spacious. To this end, reducing clutter is essential. Stacks of papers, things laying about on tables, too much furniture in one room, cluttered kitchen counters, crammed cupboards and closets, etc. These are all items that should be dealt with. I often suggest to Vendors that they even put some things away that might occasionally get used - at least until the house is sold. These items can be neatly boxed and stored on shelves in the basement. The basement is never as critical as the main living area anyway. Purchasers are much more willing to accept a slightly messy basement as long as the main living area is neat and clean.

Any unfinished work should be finished if at all possible. If a Purchaser sees a house as a "project" house, you can be sure that he is going to want to be compensated for it. Similarly, any repairs should be made as necessary. Ripped cushion floor, damage to walls and doors, peeling or mildewed window frames, etc. should all be repaired if possible.

As far as painting goes, any rooms that need a coat of paint should be painted in a neutral colour. It's my experience that wallpaper is generally a "negative", and certainly you should not wallpaper in anticipation of reselling your home. Borders - whether stenciled or wallpaper - can add a nice touch to a room if tastefully done. Borders don't seem to have a negative effect.

It seems obvious, but I should mention that the house should be clean. As they say: "people buy the 'sizzle' not the steak". This basically means that appearances are more important to most Purchasers than structure. Part of this cleaning process should be in making sure that any carpets are steam-cleaned This is very important. I won't discuss cleaning any further because it should be a familiar concept to most folks. Hire a cleaner if you don't have time to clean - It could make thousands of dollars difference in the sale price of your home.

This brings me to "smells" - which is linked directly to "pets". Probably one of the single greatest deterrents to potential Purchasers is pet smells. When cats "do their thing", it is much worse to deal with, and the odor is a fair bit stronger, than with dogs. I won't even get into the exotics like ferrets and the like! Anyway, you might have to rip out a carpet that has been peed on by a cat in order to avoid staIling your house sale. Sometimes carpets have to be replaced in order to get rid of a general pet odor - even one that is not necessarily urine. It may cost a fair bit to replace carpets, but generally, the effect on the bottom line price you get for your home will exceed the price of the carpets. Sometimes, steam cleaning will be enough to eliminate pet odors.

Smokers should try to keep their homes well ventilated and definitely steam-clean carpets and paint walls. Actually, these measures, along with general scrubbing and cleaning - which are all part of preparing any home for resale - go a long way towards eliminating smoke or, in fact, any odors. Sure you can boil potpourri or vanilla beans or use an air-freshener, but eliminating odors is the way to go first off - deal with the root cause first.

At this point rather than ramble, I'll quickly list, in point form, a few of the other hints that might help you in preparing your home for resale:

• Paint your basement floor if it is unpainted or the paint is worn.
• Keep your grass cut and snow cleared.
• Make sure all the lights are on and the curtains open for showings.
• Air the house out prior to showings.
• Clean out and organize the garage - help a potential Purchaser to see that it is actually possible to park in the garage?

Next time I'll talk about marketing strategies for your home.

REALTYGUY.com