The old adage that you only get one chance to make a first impression rings true for sellers showing their homes in today’s competitive market. With the spring market upon us, many homeowners are wondering what they can do to help get their homes ready to sell. The 2006 Royal LePage House Staging Report found that sellers ought to do more than just look after required renovations before showing their home. In fact, décor improvements help make a strong impact on buyers and can ultimately affect a home’s market value.
A poll conducted among potential homebuyers revealed that renovations can often boost a home’s value but sometimes too much of a unique style can be detrimental when it’s time to sell. Thirty-six percent of potential buyers said that they would be willing to pay a premium for a home with updated décor. Surprisingly, more men than women viewed décor as a necessity with 41 per cent of men versus 30 per cent of women claiming they were willing to pay a premium for this feature.
Renovate AND Decorate
When asked which home improvement they would pay a premium for, 79 per cent of buyers indicated that they would be willing to pay more for a home with a renovated kitchen. However, when asked if they would still pay a premium for a renovated kitchen if it was done in a style that was not to their taste, less than half of those (42%) who originally said they would pay a premium responded favourably.
If you’re thinking of selling your home, keep the following points in mind:
• First impressions are key as buyers often make up their minds about a home within the first few minutes of entering the front door. A combination of the right renovations with modern and tasteful décor is the best way to do that.
• A contemporary and minimalist space with neutral coloured walls and a limited number of personal items appeals to most buyers and ensures the best results.
• Too much empty space can work against you as an empty room allows buyers to focus on negative details instead of the overall space and the flow of each room to the next.
• While a home should be clean and tidy before showing, it’s essential to also pay attention to eliminating smells. According to the poll, 53 per cent of buyers believed strong odours such as pet and cigarette smells had a stronger impact on their impression of a home over overall tidiness and cleanliness, strong wall colours, outdated façade and landscaping.
A Royal LePage Realtor can provide you with some excellent advice on how to get your home ready to sell. Fore more information, please visit www.royallepage.ca
Every effort has been made to ensure the accuracy of this article. However, the information provided is general in nature and those with specific questions should seek professional advice that meets their particular requirements.