Yes! Its still a seller’s market! Now that mortgage interest rates have fallen just below 6%, buyer demand continues to exceed homes for sale. As interest rates have fallen, and due to a lack of inventory, prices have increased slightly, and most homes are going under contract in a shorter period of time.
While buyers are ready, willing, and able to pay top dollar for your home, they have definite needs and wants. Whether it’s a buyer’s or seller’s market, it’s always important to prepare your home for sale.
There are two different ways to prepare for the sale of your home. General maintenance of your property is important because it makes it more appealing to buyers. More importantly, buyers proceed confidently with purchases when they see a well-maintained home. The other way to prepare your home for sale is to make updates and improvements. When making improvements, it’s wise to focus on current trends and those items that will give you the greatest return on your investment.
General exterior maintenance includes basic, low-cost items such as:
- Trimming trees and shrubbery away from the home and foundation to maximize natural light into home and prevent moss buildup on roof
- Power washing exterior siding and walkways
- Window washing enhances natural light into home
- Clean gutters to prevent runoff and moisture seepage into foundation
- Weeding and applying 1-2” fresh mulch to garden beds
General interior maintenance including:
- Freshly painted interior using warm, neutral colors and earthtones which are currently popular
- Remove all carpeting to expose hardwood floors, important to prospective buyers with allergies
- Install new lightbulbs in all fixtures to enhance brightness
- Have HVAC system and all appliances serviced to ensure in proper working order
- Have any plumbing leaks repaired
- Have all windows and doors serviced to ensure they open and close properly
Home improvements are expensive, so prioritize what items are most important to buyers and those that will give you the greatest return on investment. Right now, in New Jersey, the hot issue is the 26% increase in home utility bills. Buyers frequently ask sellers to provide average utility costs. In addition, buyers are focusing more than ever on energy saving features such as:
- Programmable thermostats
- Appliances and windows with Energy Star rated products
- Insulated exterior and garage doors
- Recently replaced heating and cooling systems
- Tankless hot water heaters
- Woodburning stoves and gas inserts in fireplaces
In addition to making some of the changes described above, making certain improvements to protect your property from damaging weather trends is becoming a concern for buyers. These enhancements include:
- Installing a sump pump in basement
- Installing an auxiliary power generator
- Adding exterior drainage to property
- Removing dead trees and cutting branches away from the home
- Ensure the roof is in good condition
For additional information please contact:
Diane Belcuore
Realtor ®
908-872-5473
dianebelcuore@optonline.net
NJ 5 STAR AWARD Winner 2014, 2015, 2016, 2017, 2018,2019,2020,2021
Accredited Staging Professional
