Upgrading Before You Sell

Are you planning to sell your home in the near future? Regardless if this is your first time as a home seller, or maybe you’ve sold many homes, most people nowadays have wandered through new home developments and trends and wished their own home looked as modern and chic. Model homes showcase the latest upgrades and decorating trends; for home sellers, these homes are their competition, and it can feel daunting to offer an older floorplan and design.

While it might seem like a smart idea to simply offer buyers credit and list, there are downsides to just simply offering credit, and taking the time to update a bit on your own first could mean thousands of dollars in your pocket.

Here are some of the reasons why offering a credit might not be the best strategy:

•  Buyer Impression – A dated home looks old and not all buyers can see the potential in your home. This may even prevent buyers from making an offer on a home.
•  Lower Offers – Offering a credit can often be viewed as high seller motivation, resulting again in lower offers. 
• Value Differences – You and your buyer might disagree on the value of needed upgrades. For example, you might feel $7,500 is a fair cost for a new countertop whereas your buyers might expect considerably more; this can lead to more negotiations and lower sales price.
• Home Condition – A property that shows its age can prompt the buyer to worry about the overall condition of your home. 
• Loan Approval – Lenders are wary of buyer credits; in fact, upgrade credits are no longer possible nowadays. You might have a buyer unable to take advantage of the credit at all and worse, you could lose the buyer.

Home design trends change quickly. If you’re ready to sell, it could be tempting just to list your home in its current condition. Before you just add a credit to the listing, consider some simple updating so your buyers can see the value of your home. Sellers may not realize that some of the issues they live with every day and consider minor may actually be considered major to home buyers. It’s crucial to keep your house presentable and in good shape before you list it on the market. That being said, read on to find out what upgrades you might want to consider before you list on your house on the market.