Before undertaking renovations, consider your Return On Investment (ROI) and if the work will increase your chances of selling. Minor renovations can improve the overall impression of a property. Upgrades to systems will eliminate concerns buyers could have about taking on a large repair shortly after closing. But it is best to stay away from high-end remodeling, many of those won’t pay you back.
The projects with the highest ROI? A new front door or a new garage door is a sound investment and a minor kitchen renovation (think new flooring, counters and paint) will pay you back over 80% of your cost, but a major kitchen renovation will only pay you back about 64%.
Staging can include everything from de-cluttering and sprucing up to moving in furniture to fill rooms. The goal of staging is to help buyer’s feel like this is a home they want to live in, and that is easier when the home is clean, neat and stylish.
In addition, staging can speed up your sale. A 2010 study by the Real Estate Staging Association found that unstaged homes spent 181 days on the market, before the home owners decided to have them professionally staged, at which point they, on average, sold in 60 days. This equates to a total of 241 days. When staged first (prior to listing), homes averaged just 35 days on the market.