There may be an inventory crunch in the Chicagoland real estate market, but selling a home for the highest possible price in the shortest amount of time still requires preparation and planning.
And while the number of homes for sale definitely favors sellers today, the fact that we have significant pent-up supply (i.e. sellers wanting to move but reluctant to let go of cheap mortgages) means the market balance could shift soon. In addition, social media has accustomed so many buyers to professional looking interior design that today’s sellers aren’t just competing with the home down the street; they’re competing with homes all over the world.
With that in mind, here are five key things to do before listing your home for sale:
A fresh coat of paint has always been one of the most cost-effective ways to transform the look and feel of your home, and several sources note that it generates positive ROI. In other words, you’ll actually make money by painting your home before you sell it. Stick with neutral colors like soft grays, warm beiges or classic whites to create a clean, inviting atmosphere. Neutral tones appeal to a broad range of people, making it easier for them to imagine their own things in the house. Whether you’re covering up bold colors or simply freshening up, painting your home’s interior is a must-do.
Curb appeal plays a big role in attracting potential buyers, and in our neck of the woods, it’s crucial to make the most of your landscaping before the cold sets in. Trim overgrown bushes, mow the lawn and plant affordable, seasonal flowers to add easy pops of color to your yard. Consider adding mulch to flower beds for a richer look. If you have trees, make sure they’re pruned and free of dead branches. Consider adding lighting that can accent plantings, hardscape or trees as well. A well-maintained yard not only boosts your home’s exterior appeal but also sets the stage for attractive listing photos that can entice buyers before they even step inside.
Staging your home is about more than just arranging furniture—it’s about creating an environment where buyers can envision themselves living. Staging also can highlight the most desirable features of your property or, just as importantly, help to mask certain flaws. Consider hiring a professional stager who understands the local market and has a well-stocked warehouse of furniture, art and accessories. Remember that staging, like painting, is an investment that if done properly should generate a return. But if professional staging is not in the budget or not required, focus on arranging furniture to create open, flowing spaces, and add tasteful decor that is appealing to the most likely target market for your home. The goal is to make every space feel welcoming and functional.
Decluttering is perhaps the most critical step in prepping for a sale. Buyers want to see the potential of the space without being distracted by personal items or excess furniture. In homes that have limited storage space, decluttering is even more important. Start by clearing out closets and cabinets to emphasize storage potential. Next, edit furniture. Remember that it’s not about how you or your family live but about making your space feel large and versatile. Also, pay attention to personal items like family photos and knick-knacks. As a rule of thumb, less is more. Finally, don’t just believe that you can move everything to a storage closet or basement. Homebuyers will take notice when those areas are crammed with stuff…even if it’s somewhat organized. So, consider renting a storage unit to temporarily store items. The cleaner and more organized your home looks, the easier it will be for buyers to imagine themselves living there.
Timing is everything when it comes to listing photography, especially in the Midwest, where the seasons can drastically change your home’s outside appearance. Before the leaves start to fall and the landscape turns wintery, schedule your listing photos while the plants are green, your yard is vibrant and the sun is shining. Greenery adds life and warmth to your exterior photos, making your home more appealing to buyers browsing online. High-quality photos taken during the late summer or early fall can make a significant difference in attracting potential buyers before winter sets in.
These five steps can ensure that your home is ready to make a big impression on the market. With the right preparation, you can appeal to the widest possible range of buyers and, in the process, get the most for your property.
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