According to a recent article on Zillow, the best time to sell your home is in early May.1 So if you’re planning to relocate, upgrade to a bigger home, or simply move to the better side of the street, you’ll want to get your house ready to sell in the next couple of months.
Not quite sure how to get your house ready to sell? We can help! We’ll explain how you know if you need home repairs, how to start getting your home ready to sell, and what home improvements actually pay off. With your house looking amazing, the showings will schedule fast and the offers will come pouring in. Make sure to contact our partner Mortgage Center, for low-rate mortgage options when purchasing your next home.
Should you remodel your home before selling?
For the most part, that depends on the current condition of your home. If your home has no real issues besides needing a new coat of paint or new flooring, it may not be necessary. Light cosmetic changes are usually repairs that new homeowners want to make themselves. If your home has larger issues, however, such as a leaky roof, you may need to get that repaired to sell your house easier.
Some questions to consider:
- Will the improvements bring a good return on investment? Meaning, will you get most of the money you spent on the project back when you sell your house.
- Can you compete with similar homes in your area? If the other houses in your price range have more upgrades, you may not get the price you’re asking for.
- Will the current issues in your home cause concern for potential buyers? Depending on the financing of the potential buyers, they may not be able to purchase your home as-is with major defects. Fixing these issues will make selling your home easier for all parties involved!
How do you get your home ready to sell?
If you are planning to make improvements to your home, choose the ones that will increase your sale price, draw buyers in, and have a good return on investment (think bathrooms and kitchen). Don’t spend a lot of money making improvements that don’t help you sell your house or make your house worth more.
Where to start?
- Walk around your home and make a list of all the items that are in need of repair or may catch the eye of a buyer in a negative way.
- Get your home evaluated by a local realtor to see how much you should list your house for. If it’s far below what you thought it was worth, ask the realtor what improvements would be beneficial.
- Start looking at comparable homes in your desired price range to see how your home competes. Zillow’s Zestimate tool is very helpful for this type of search.
What home improvements help sell a house and have the highest return?
The best thing to do when trying to sell your house is to think like a buyer. Imagine you’re seeing your house for the first time as you pull up to the curb. How’s your home’s exterior? Is your siding stained or in bad shape? According to Remodeling Magazine, replacing the siding prior to selling a home recouped 92.8% of its cost.2
Now imagine you’re walking through the front door for the first time. What’s your first impression? Realtors suggest you focus on the main level of your home when making repairs as it’s where buyers make their first impression of your home. People tend to flock to the kitchen, living room, and bathrooms — how are yours looking? An updated kitchen can recoup as much as 92.9% of its cost.2
Paying for Home Improvements Prior to Selling:
Our Home Equity Line of Credit (HELOC) can help you make home improvements prior to selling your home with $0 out-of-pocket costs.3 If you’re planning on taking this route, you’ll want to plan far enough in advance to complete the application process, get funded, have the repairs done, and pay all your contractors. Once the repairs are completed and you sell your home, your HELOC will get paid off along with your first Mortgage Loan from the proceeds of your sold home at closing.
Another option for paying for home improvements prior to selling would be one of our Personal Loans, such as an Advanced Line of Credit or Signature Loan. These loans are not secured by your home and would not be paid off at closing when you sell your home. Learn more about our flexible, low-rate Personal Loans.
Home Improvements That Don’t Cost Money:
While you may need to spend money to make money in the house-selling game, there are plenty of home improvements that you can make to your house prior to selling that are free. Make sure your house has a great first impression: wash the outside of all your windows, mow and rake the yard, trim the bushes and trees, and declutter your yard and garage. For the interior, make sure your house is clean, organized, and smelling great.
As you can see, making home improvements prior to selling your home is not always necessary, but can increase your sale price and reduce your home’s time on the market.
We want to help you sell your home and get into your new home quickly! If you’re thinking of making larger home improvements, learn more about our Home Equity Lines of Credit with $0 out-of-pocket costs3 or our flexible Personal Loans. Our great financing options can help you remodel your kitchen, replace your siding, or even install a fence to make your home more appealing to buyers.
And when you’re ready to start looking for your new home, get pre-approved online quickly before you start scheduling showings. Once you’ve found the new home of your dreams, contact our partner Mortgage Center to discuss the best mortgage options for you. We look forward to helping you move in the right direction!
3. No out-of-pocket costs at closing when home’s loan-to-value is at or below 60% or when no appraisal necessary. Annual percentage rate (APR) may vary based on credit score and combined loan to value ratios. Advia’s Interest only HELOC is a variable rate product and APR may change quarterly based on the value of an index of Prime Rate as stated in the Wall Street Journal (includes a lifetime interest rate cap of 8% over initial loan rate). We do business in accordance with the Federal Fair Housing Law and Equal Credit Opportunity Act. Some products and services may vary based on geographical region. Offer and rates subject to change. Subject to credit approval.