What Every Seller Needs To Know About Renovating This Year

What Every Seller Needs To Know About Renovating This Year

If you’re planning to sell this year, you’re probably thinking about what you’ll need to do to get your house ready to appeal to the most buyers. It’s crucial to work with a trusted real estate professional who knows your local market to get your home ready to sell. But there are a few things you should consider when deciding what to renovate and update before listing this season. Here are three things to keep top of mind as you’re making your list of projects to tackle this year.

1. The Number of Homes for Sale Is Very Low

Housing inventory sits far below what is normally considered a balanced market. In fact, according to the National Association of Realtors (NAR), the latest data indicates inventory is hitting an all-time low. Because there’s such a limited supply of homes available for sale, you’re in a unique position when you sell your house to benefit from multiple offers and a quick process.

But you want to do so while buyers are still scooping homes up as fast as they’re being listed. Spending time and money on renovations before you sell could mean you’ll miss your key window of opportunity. Of course, certain repairs may be important or even necessary. The best way to determine where to spend your time – and your money – is to work with a real estate advisor to confirm which improvements are truly needed and which ones aren’t likely to be deal-breakers for buyers.

2. Buyers May Be Willing To Take on Projects When They Purchase Your House

Today, many buyers are more willing to take on home improvement projects themselves to get the house they’re after, even if it means putting in a little extra work. A recent survey from Freddie Mac finds that:

“. . . nearly two-in-five potential homebuyers would consider purchasing a home requiring renovations.”

If more buyers are willing to tackle repairs on their own, it may be wise to let the future homeowners remodel the bathroom or the kitchen to make design decisions that are best for their specific taste and lifestyle. Depending on the structural condition of your house, your efforts may be better spent working on small cosmetic updates, like refreshing some paint and power washing the exterior to make sure the home stands out. Instead of over-investing in upgrades, the buyer may change anyway, work with a real estate professional to determine the key projects to tackle that will give you the greatest return on your investment.

3. Your Agent Will Help You Spotlight the Upgrades You’ve Made

Over the past year, many people made a significant number of updates to their homes. The most recent State of Home Spending report finds:

“Home improvement spending rose 25% year-over-year to $10,341. Homeowners who invested in home improvement did an average of 3.7 projects, up from 2.7 in 2020, . . .”

With more homeowners taking on more projects in the past 12 months, there’s a good chance you’ve already made updates to your home that could appeal to buyers. If that’s the case, your real estate advisor will find ways to highlight those upgrades in your listing.

The same is true for any projects you invest in moving forward. No matter what, before you renovate, contact a local real estate professional for expert advice on what work needs to be done and how to make it as appealing as possible to future buyers. Every home is different, so a conversation with your agent is mission-critical to make sure you make the right moves when selling this season.

Bottom Line

In a sellers’ market like today’s, it’s important to spend your time and money wisely when you’re getting ready to move. Let’s connect today so you can find out where to target your efforts before you list.

Why You Should Pay Attention to the Home’s Furniture Layout

One thing that occasionally gets overlooked when preparing a home for sale is furniture layout. I’ve been in many homes where I’ve felt that something wasn’t quite right about a certain room as soon as I entered it. Not anything obvious, but more of an indescribable sense of confusion for lack of a better word.

If you’re planning on selling your home, here are some questions you should ask yourself about your current furniture layout:

• Does the room look off balance?

• Is the flow of the room disrupted?

• Does the layout impede pathways?

• Is the focal point of the room concealed?

• Does the room feel “boxed in” rather than open?

• Is there too much furniture in the room?

If you answered “yes” to any of these questions, you might want to take a look at your furniture placement. This is where a professional home stager can help you.

At a recent staging consultation that I carried out, there were some issues with furniture placement. The space in question was an open concept living room/dining room/kitchen. If you take a look at this BEFORE photo, you’ll see that some changes were needed.

Now let’s ask the questions about this space:

Question #1: “Does the room look off balance?” Although you can’t see it from this photo, the dining area was directly behind the sofa. This area was comprised of a small round table and four chairs along with a small dining hutch. The living area was weighted down in comparison with too many pieces of heavy furniture, which made the overall space look off balance.

Question #2: “Is the flow of the room disrupted?” The large sofa split the space between the living and dining areas in half, making the room look smaller and broken up.

Question #3: “Does the layout impede pathways?” The pathway to get from the dining area to the kitchen was tight due to the length of the sofa. As well, the pathway between the sofa and loveseat to reach the seating area was cramped.

Question #4: “Is the focal point of the room concealed?” Absolutely. In this case, the focal point of the room was the fireplace. With the current furniture configuration and the large TV, the fireplace did not take main stage.

Question #5: “Does the room feel ‘boxed in’ rather than open?” Yes, you can see this from the BEFORE photo.

Question #6: “Is there too much furniture in the room?” Yes, from a staging point of view there was too much furniture in the space. While living in a house and not considering selling, you’re obviously going to arrange your space to suit your needs as was the case here. Due to the amount of entertaining the home owners did, they required more seating. However, now that they were going to sell, they needed to make some changes.

So here’s what we did…

We removed the sofa, moved the loveseat over to where the sofa previously was, and brought in a chair that was being used upstairs in the master bedroom suite. Fortunately, this chair matched the loveseat so we were in luck. While we were at it, we removed the TV for good measure in order to also help open up the space and make the fireplace the main attraction.

Once the TV was gone, we brought in a glass console table that was previously in the basement to help ground that area, yet not detract from the fireplace.

Now take a look at the AFTER photo …

Photo Credit: Charlene Storozuk, DEZIGNER DIGZ

In the AFTER photo you’ll see how the space is more open, there’s flow, and the fireplace now takes its place of prominence as it should. This photo was taken before any styling took place. You can see how different the space looks already and that’s without any decorative accessories, an area rug or small glass tables.

The way your furniture is arranged while you are living in your home should be configured to suit your needs and to work with your intended purpose for the room. However, remember that if you’re going to sell anytime soon, you should always ask yourself some important questions about furniture placement.

Looking to buy or sell?  Let me know how I can help.

 

Contact your local RE/MAX  Realty Center 

262.490.3696, Guzanick@gmail.com,  if you have questions about

 buying a house or selling one. I can  guide you  toward your next home.

www.HomesWithStacey.com

See you at the closing!

By Charlene Storozuk, guest contributor