How many of us are looking for a positive take on 2020 and 2021? Besides COVID, the years will be remembered as the housing market boom! According to an article titled “Housing Market Forecast 2021: How Hot Will It Be?” on Daveramsey.com, the housing market predictions for 2021 are showing the following:
- Existing home sales up 9%
- Newly build home sales up 21%
- Home prices up 8%
- Mortgages rates (30-year fixed) at 3%2,3
The perfect storm for homeowners to list their house and get top dollar for it. Now, as a home seller, how can we utilize this market and get the most money out of our investment? Let’s explore the ways to revamp your home for resale and get underway to see these impactful and effective results.
You have 2 seconds for the potential homeowner to decide if they are interested in your property or not. First impressions are everything in real estate. Some of the most appealing factors of the landscape are trimmed bushes, nicely planted flowers/trees, freshly cut grass, and removal of yard waste (leaves, trimmings, branches, etc.). These factors can impact your buyers first impression by “inviting” them into the house…. welcoming them into the residence to envision memories being made.
#2: Trip Hazards/Uneven Concrete
A potential home buyer doesn’t want to approach your home and see a list of things that need repairs. Nothing will deter a buyer as much as a laundry list of “to-dos” before they even buy a home. One of the most unappealing parts of a home that draws in the most attention is your driveway, sidewalk, garage, and patio…. and all of the concrete that accompanies that. The concrete should be a nice flat surface in good shape, meaning no huge cracks, uneven dips, or crumbling. When concrete is uneven and cracking, home buyers automatically assume there are foundation issues. Even if there aren’t any, the assumption is there – and it’s an expensive repair.
One question that a homeowner asks time and time again is… how do I know when to repair or replace the concrete? This article outlines the ‘must-know’ tips on deciding when to repair vs. replace the concrete: https://www.polymagic.net/when-to-repair-vs-replace-their-concrete/
Without doubt, a homeowner should contact a professional concrete repair company and determine their assessment. Many around the Kansas City area including DS Concrete will provide a free estimate, however not all will do the same craftsmanship. Some contractors will quote a ridiculously low price and the work reflects that. As a responsible homeowner, do your homework and ask questions. If a company isn’t willing to give you references, that’s a red flag!
#3: Consider Paint and Minimal Updates
A potential buyer wants to walk into a home and envision their belongings in there. This is helpful when the paint colors are neutral and less distracting for the vision of a home buyer. If your daughters bedroom is blinged out with the princess theme, complete with hot pink walls, you may want to consider a neutral paint application. The cost of paint could be the deciding factor of a potential home buyer envisioning that space as a boys nursery, when it’s currently looking like a Barbie dream house.
The great news for any homeowner is that the market is on our side for selling! However, you need to recognize the repairs that can gain additional revenue on your home, increasing your Return on Investment. We hope this article helped outline the Ways to Revamp Your Home for Resale as we navigate the remainder of 2021!