If your goal is to be a successful seller, you have to understand the mindset of the buyer. During the last decade, there has been a paradigm shift. What was once the prevailing wisdom in real estate: “Location, Location, Location” has been replaced by “Condition, Price, Location”, in that order.
Selling your home means that it becomes part of the public domain. Although you may continue to live there, your property is now merchandise. Whether you have owned your home for fifty years or five, chances are that it is time to declutter and delete in preparation for the selling process. Most of us are savers/collectors and our houses are filled with the memories and memorabilia that connect us to it. The very thought of sorting through our possessions and opening the doors to perfect strangers can range from unsettling to overwhelming.
Fix Whatever is Broken
There is also a good chance that there is some deferred maintenance of most properties, even among the most conscientious of homeowners. It is far better to address these issues in advance than to allow them to be identified by an inspector after an offer has been accepted. Generally, it is more cost effective to repair than to replace mechanical or structural elements. Buyers, however, will usually ask for the latter. Deferred maintenance can also suggest that other areas may need attention. Simple solutions like power washing, gutter cleaning, driveway sealing, and fresh paint can significantly enhance curb appeal and create a positive impression without breaking the bank.
As the focus has transitioned from Location to Condition, the expectations of buyers have changed. Items that were once considered and accepted as “normal wear and tear” are now examined more closely. Understandably, when buyers in Greenwich are investing enormous sums of money, they are hoping to minimize additional expenditures to cure problems that should have been addressed by the previous owner. Repairs and improvements are costly and time consuming. Although a resale should not be expected to look and feel like new construction, the market is very competitive and the standard has risen.
Declutter & Depersonalize
The declutter theory is further supported by the notion that a buyer has to be able to envision themselves living in someone else’s home. Too many family photos are a distraction rather than an enhancement. Wall paper and strong colors are very personal. Closets must appear spacious and accommodating. Storage areas need to be clean, dry, and accessible. Even bathrooms should be “merchandised” with a minimum of personal grooming items like shampoo, make-up, moisturizers, and tooth brushes.
So, what’s the good news?
Help is on the Way
The good news is that a cottage industry has evolved to assist sellers in the preparation and presentation of their homes for sale. In many cases, Realtors have become experts at staging a property inside and out. Designers and decorators have expanded their business to include staging as another service offering. It all starts with a plan.
As the internet has become the center piece in every Realtor’s arsenal of marketing tools, interior and exterior photography has taken on added significance. As such, a seller will need to prepare a property for photos and showings, so the declutter exercise is step one. Begin by deciding which household items to use, store, or delete including furniture, china, carpeting, toys, exercise equipment, outdoor furniture, clothing, and anything else that you can live without. Kitchen counter tops should be cleared of items/appliances that can be easily stored and brought out on an as needed basis. Empty and clean the garage and basement. Storage units are readily available and reasonably priced.
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Finally, take a fresh look at the exterior of your home with a buyer’s perspective. Landscaping is the frame on the picture. Quite often, foundation plantings have grown above the windows and should be replaced. Seasonal plants and fresh mulch can also make a huge difference at a minimal cost. Frequently, the front door and/or the garage doors are focal points. Repair or replacement if needed can provide an excellent return on investment. Perhaps something as simple as a new mailbox, front door mat, or the addition of an American flag will do the trick.
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A journey of a thousand miles begins with a single step. Preparing a property for sale can be a daunting task, but it is does not have to be. Professional help is readily available at a reasonable cost. Sometimes a separate set of eyes is needed to see through the abundance. Purchasers who are relocating from across town, across the country, or from Manhattan have enough to deal with already. By investing the time and effort to ready your home for the market, they will be able to envision themselves in a new environment. Keep in mind that CONDITION is one of the most important considerations in today’s home buying process.
