Experts project an anticipated rise in home sales activity in 2023. According to the latest data from Statista, the number of existing home sales for the year 2023 has already reached 6.07 million. The figure has increased slightly from the 5.95 million recorded in 2022.
The current year may present a favorable opportunity for selling a home, and undertaking presale preparations can increase the likelihood of a successful sale.
Fixr did a study to find out what realtors thought sellers needed to do to prepare for a home presale in 2023. The research aimed to inform homeowners about how to improve their home's marketability.
The study also gives an estimate of how much each project is likely to cost home sellers. Here are the top ten suggestions.
1. Professional Declutter
Professional decluttering is recommended by 96 percent of real estate specialists and is estimated to cost roughly $450, according to the survey.
Kristina Morales, a REALTOR® with over 20 years of professional experience who currently actively handles real estate in Ohio, recommends that if a home is cluttered, the first thing a seller should do is clean it up.
A messy home discourages a buyer from focusing on the home's features. As a vendor, you want to draw their attention to the property's structure and features. Getting storage is a fantastic choice if you need a location to put this stuff.
2. Entire Home Cleaning
The second highest recommendation was given by 88 percent of real estate specialists. While Morales believes that a complete home cleaning is essential, at $221, it is an expensive approach to prepare for a home sale. Because a homeowner can do it themselves.
Sellers should only consider hiring a professional cleaning service if the house smells like any of their pets, as this might be off-putting to purchasers.
Morales says it will be up to the degree of customization to determine how this is accomplished. If only a few photos exist, it's not a significant concern. Yet, depersonalization is required if the entire wall leading up the stairs is covered in images of family and friends.
She clarifies that this does not necessitate tearing down every frame and patching the walls (however, that may be a good idea). It may be as simple as replacing the images with more neutral ones.
“On one property I listed,” Morales says, “I wanted to maintain the decorative choice of the placement of pictures and frames, but instead of having their personal photos, I placed music note sheets inside instead.”
She elaborates that potential purchasers should be able to envision themselves residing in the house. This may be challenging if the seller has put a lot of personal touches throughout the house.
4. Repair Drywall
Morales notes that this is another “it depends” scenario. Though it's likely simple to implement, she suggests it is not as important. Get it fixed if there are significant cracks or holes in the drywall. If the drywall is damaged and the problem is still unresolved, you should say so.
“When you take care of the cosmetic issue, a buyer and/or inspector is not able to see that there may be a cause for concern – always, disclose, disclose, disclose-” she advises. Not surprisingly, 72% of realtors consider this an essential $350+ presale project to complete.
5. Repair Damaged Shingles
Whether they want to sell their property or not, Morale contends that homeowners should always replace damaged shingles. Always maintain the roof's structural integrity. This is significant when a homeowner sells since it shows that the seller is looking after the house. 72% of realtors prioritized the $500 cost of replacing broken shingles.
6. Painting Walls
This had a 57% priority and was the second costliest presale project at $8,700 next to “landscape backyard.” “Paint is a very important element, especially if the colors do not have mass appeal,” says Morales.
It's crucial to choose a competent painter. She adds that buyers will immediately notice shoddy painting work and begin discounting the asking price to account for the expense of repainting. Or else they'll look for a new place to live that only needs a little work. A home that has recently been painted looks and feels terrific.
7. Paint Touch Ups
Morale advises a seller to handle any minor paint touch-ups themselves and always to check the work's quality. Making your home more aesthetically pleasing will cost you about $200. Consider it significant because it receives a 65% recommendation and is ranked sixth on the list.
8. Landscaping Front Yard and Backyard
Half of real estate agents believe it's vital for the front and back yards. Morale emphasizes the significance of curb appeal, and this factor is a key contributor. If a seller is strapped for cash, it need not be anything fancy.
Make sure the grass is cut. She notes, “The front yard provides a first impression, and the backyard can provide a lasting impression,” This explains why they are so expensive, costing $5000 and $9000, respectively.
9. Carpet Cleaning
When listing your property for sale, you should consider cleaning the carpet if it is highly discolored or shows obvious signs of wear and tear. The Fixr research places it at 71%, making it the fifth most common after replacing broken roofs and gutters. The best part is that its lowest price is only $180.
Cleaning the carpets thoroughly before listing a high-end home or property for sale is more important than it would be if you were selling a more modest residence.
10. Regrout Shower
Rerouting a shower can give it a fresher, more modern appearance. This may draw more purchasers and raise the worth of your house. Use a commercial grout cleaning if the grout is still soiled or discolored after you have tried cleaning it. Or think about regrouting the shower.
The study finds that regrouting, which entails removing and replacing old grout with new grout, costs around $700. This is the bottom of the list with a 30 percent recommendation.
Amaka Chukwuma is a finance and lifestyle writer with a real knack for the craft. She's been at it for over four years, making her mark on places like FinanceBuzz and The Buttonwood Tree, not to mention some cool collaborations with various brands. Her. Her work with Wealth of Geeks has been widely appreciated, with syndication across multiple platforms and publications. Amaka's got a BA in Linguistics. When she's taking a break from her writing adventures, you'll probably find her digging into some delicious pies or exploring the food scene. Want to see what she's up to or get a taste of her work? Hit her up on LinkedIn and Twitter.