Seller “Home Ready” Mistakes

Following are four common mistakes that are made by sellers when they are trying to get their home ready to be placed on the market:

  1. Cost does not equal value. For example, if you finished your basement six months ago for $12,000, the improvement does not necessarily add $12,000 worth of value in the eye of the buyer
  2. Not putting your money where the buyers will see it. For some examples, a good return might be on a fresh coat of paint and sprucing up your front door and entryway – do not expect to get as good of a return on something like insulation or new wiring
  3. Over improving. The addition of a fifth bedroom to a house in a subdivision of three to four bedroom homes, most likely will not give you as much of a return as you would like. Use typical improvements for your area as a guide to what you could do to your home
  4. Quality home improvements may cause a home to sell quicker, but not necessarily for more money. A timely sale will lessen the carrying costs and stress, but do not overestimate the overall value of “smart” improvments