One common question home sellers ask is, “what should I do to get my home ready to sell?” This is a loaded question because the answer depends on their timeline, their budget, and the current market (sellers, neutral, or buyers). The answer for you will also depend on these factors.
No matter how much money you have allocated to get your home ready to sell, it’s your timeline sets the stage for what you are able to accomplish. If you need to sell quickly, forget the major upgrades and try to accomplish as many deferred maintenance items as possible, while considering what refresh items will provide the most benefit. Your real estate broker and their team will be able to help you create a punch list and prioritize the items based on your situation.
There are three areas to focus on when it comes to pre-listing home prep:
1. Major upgrades
What they include:
Major upgrades include large projects such as a kitchen remodel, renovating a master bedroom/bathroom, or adding a backyard patio.
Who should do them:
Typically, these work best for those with a hefty budget and lots of time on their side before looking to list.
Best time to do:
A great time to do any major upgrade is right after you buy the home, especially if you know you might sell it within the next 5-10 years. Who better to enjoy the upgrades than you! If you are going to end up footing 1/2 the bill you might as well get some enjoyment from it!
These types of projects will give you about a 50% return on investment. While it will make your home more appealing and raise the list price, you may end up a little disappointed at closing.
2. Deferred Maintenance
What it includes:
Think smaller when it comes to deferred maintenance. Instead of the “oohs and ahs” that major upgrades provide, these are the little items that show buyers you’ve tenderly cared for your home — leaving buyers questioning less about the condition of your home. (more…)
By LYH broker Rhyan Diller
Being a homeowner, whether new or seasoned, comes with its responsibilities! These are some of our recommendations to make sure your home and investment stays in tip-top shape.
Service Your HVAC
It is typically recommended to have an HVAC (heating, ventilation, and air conditioning) contractor clean and service both systems annually. This will help ensure the longevity and efficiency of your HVAC system. Scheduling this in the fall before you find your heat isn’t working (or in the spring before you find the a/c isn’t kicking in) will save some discomfort (and possibly some cash).
Winterize Your Sprinklers
If you own a home in Colorado and have a sprinkler system, you need to get it winterized! If your sprinkler system does not get winterized, you run the risk that water will freeze in the irrigation valves, pipes, and sprinkler heads, which could lead to a hefty repair bill. In Colorado, it’s best to winterize your system a few weeks before the first freeze/snow is expected. It is typically easiest to hire a professional landscaper to winterize your system if you are not familiar with how to do so.
Clean Your Gutters
If your gutters are clogged, water will not be able to properly divert from your home, which can lead to a number of issues. It is typically recommended to clean your gutters twice per year, once in the late spring and once in the early fall. However, if you have lots of trees and foliage, you may need to clean them more often. Gutter guards can be installed to prevent gutters from clogging in the first place, which will reduce your maintenance costs and clean-up time.
Check Your Downspouts
While you’re cleaning your gutters, check in on your downspouts. They play an important role in protecting your foundation by diverting water from your home. Make sure that your downspouts are diverting the water at least three feet away from the home. If your downspouts are pouring out directly on the side of your home, purchase some downspout extensions from your local hardware store.
Change Your Furnace Filter
A good rule of thumb is to change the filter in your furnace at least every three months or whenever the filter is visibly dirty. If you have household pets who shed a lot or have had poor air quality due to wildfires, you may need to do this more often!
Check Your Smoke Alarm and Carbon Monoxide Detectors
Test to make sure all smoke alarms and carbon monoxide detectors are in good working order, with fresh batteries, at least quarterly! Colorado law states that homes must have a carbon monoxide detector on each level of a home and within 15 feet of an entrance to each bedroom. Smoke detectors are required in every bedroom, outside each sleeping area, and on every level of the home including the basement.