Ready to sell your home in New Jersey or metropolitan New York? At the end of January, industry experts reported homes in our area averaged 148 days on the market, and close to 10 percent (8.9%) faced a negative equity challenge. To move your property faster, and get the highest return on your investment, you need to know what buyers are looking for today.
The Renewal by Andersen team did some research and here’s 3 tips to get the best priceyou’re your home in New Jersey and New York.
#1. Almost 12 percent of sellers cut their original listing price. Buyers in New Jersey and New York are looking for a deal that leaves more money in their pocket. This means sellers should be looking for ways to make their offering more attractive than the competition. Check your roof, ceilings, walls, foundation, plumbing and heating/cooling system to make sure there won’t be any surprises during the pre-sale inspection. Make sure your doors and windows open and close easily and fix or replace aging fixtures that could be a drain on the heating and cooling budget.
#2. Some remodeling and repair jobs, like repainting all walls to give the place a clean, fresh appearance are definitely worth the investment. Depending upon the condition of your existing windows, installing energy-efficient replacement windows that lower heating and air condition bills could also help you get the best price for your home. In today’s competitive market, nobody is going to pay top dollar for a home that has drafts that will increase their heating and air conditioning bills every year.
However, skip updating the master suite or doing a full blown kitchen remodel because you will probably only recover 50 percent to 75 percent of your investment, according to HGTV. Everyone expects a home free from drafts and windows that amplify outside noise, but not everyone wants granite counter tops and high-tech refrigerators. Major upgrades are something better left for new homeowners who will likely have their own unique ideas about what works best for them.
#3. Today’s home buyers are looking for safe, affordable housing in a neighborhood with good schools and easy access to shopping, dining and medical service. Even though we all want to feel safe in our homes, less than 20 percent of the homes in our nation have a security system. If your home has one, great! If not, don’t invest in a new system, thinking it will increase the property value. Unless your home is in a high crime neighborhood, and probably even if it is, homeowners concerned about home security will most likely want to customize their security system to fit their personal needs and budget. With the Internet of things and connectivity today, more people are going with a DIY/Smart system built around their own digital toolbox.
#4. Focus on repairing anything on your property that isn’t working. Get your appliances and HVAC system cleaned, serviced and performing perfectly. Fix the roof. Replace windows and doors that are unsightly or damaged. Clean everything, and put a fresh coat of paint on your walls and trim work. Make your home an inviting place that someone would be proud to call home. But, skip major upgrades that a new homeowner may want to customize to their taste and lifestyle.
Home buyers aren’t looking for a short-term housing solution. They will likely spend the next five to 10 years (or more) in their home, unless they move due to a job change or other major life event. Give them a great foundation and they will take care of the rest. We invite you to learn more about how installing custom-crafted, high-performance replacement windows and patio doors will boost your home’s market value. Just fill in the short form on this page or call (866) 609-5033 to schedule a private consultation.
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