Home improvements may help sell home
A fully prepped home will stand apart from the competition once it's listed, especially in this buyer's market. Remember: you only get one chance to make a first impression, so you should complete any improvements before buyers start looking at your property.
In addition to standing out in the market, another benefit of selling a home that has been recently updated with new paint, appliances, light fixtures or flooring is that you may be able to leverage some the home improvement costs when negotiating the terms of the sale with the buyer.
Remodeling key areas such as kitchens and bathrooms can have a big impact on attracting buyers, but homeowners who list at the right price will also have an easier time finding buyers. Additionally, they may garner multiple bids - which could result in a higher sale price in the end.
According to the Joint Center for Housing Studies at Harvard University, U.S. spending on home improvements is expected to reach more than $118 billion in the third quarter of 2011
According to the Joint Center for Housing Studies at Harvard University, U.S. spending on home improvements is expected to reach more than $118 billion in the third quarter of 2011, up from approximately $113 billion during the same period last year. This may be an indicator of efforts to prepare homes for sale, or a sign that more homeowners are opting to remodel than sell. Either way, the increase shows that those considering selling in the upcoming years should invest in home improvements now.
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