Your home is on the market and you really thought it would go into contract that first month, but it didn’t. Its not. No offers. Nada.
What’s up with that? Read on!
When you first put your house on the market, you might be hopeful for a quick sale—especially if you’ve put a lot of money into improving the house over the years and if the neighborhood is one that has historically attracted a lot of buyers. While you shouldn’t panic if the house doesn’t sell the moment you list it, you should begin to worry if the months start flying by without any real offers. If this is the case, here are 11 reasons why your house may not be selling.
1. You overvalued your property. If your house is overpriced, it’s simply not going to sell. Compare your property to similar properties that recently sold within your area to get a better idea of its true value. An experienced real estate agent can give you an accurate value of your home. Additionally, don’t make the mistake of tacking on the cost of any renovations you made. You can’t just assume that the cost of a renovation translates to added value.
2. Your listing is poor. If the listing of your home includes a poorly written description without any images, a lot of buyers are going to skip over it. Make sure you and your REALTOR® put an effort into creating a listing that attracts the attention of buyers. Make sure to add high quality photographs of both the interior and exterior of your home. Don’t forget to highlight unique features, as well.
3. You’re always present at showings. Let your agent handle your showings. Buyers don’t want to have the seller lurking over their shoulder during showings, especially during an open house. This puts unwanted pressure on the buyer, which will make them uncomfortable and likely chase them away.
4. You’re too attached. If you refuse to negotiate even a penny off your price, then there’s a good chance that you’ve become too attached to your home. If a part of you doesn’t want to sell it, or you think your house is the best house in the world, odds are you’re going to have a lot of difficulties coming to an agreement with a potential buyer.
5. You haven’t had your home professionally cleaned. A dirty house is going to leave a bad impression on buyers. Make sure you have a professional clean your carpeting and windows before you begin showing your house.
6. You haven’t staged your home. If you’ve already moved out, then don’t show an empty house. This makes it difficult for buyers to imagine living in it. Stage your house with furniture and decor to give buyers a better idea of how big every room is and how it can be used. You want the buyer to feel at home when they are taking the tour.
7. You kept up all of your personal decor. Buyers are going to feel uncomfortable touring your house if you keep all of your family portraits up. Take down your personal decor so that buyers can have an easier time imagining themselves living there.
8. Your home improvements are too personalized. You might think that the comic book mural you painted for your child’s room is absolutely incredible, but that doesn’t mean potential buyers will agree. If your home improvements are too personalized, it can scare off buyers who don’t want to pay for features they don’t want.
9. Your home is too cluttered. Even if your home is clean, clutter can still be an issue. For example, maybe you simply have too much furniture in one of your rooms. This can make the house feel smaller than it is.
10. Your home is in need of too many repairs. The more repairs that are needed, the less likely a buyer will want your house. Many buyers simply don’t want to deal with the cost or effort of doing repair work, even if it’s just a bunch of small repairs, such as tightening a handrail or replacing a broken tile.
11. You chose the wrong real estate agent. In our opinion, choosing the right real estate agent is simply the most important decision you make in selling your home. A good REALTOR® makes all the difference in selling your home within a reasonable time.
All these things can be fixed once you realize your mistake; however, the longer your property stays on the market, the less likely it will sell at listing price. One of the best ways to avoid making these common mistakes is by working with a professional real estate agent.
Not only will these DIY’s boost your home’s value, but you get to enjoy them too.
The satisfaction of creating something productive is powerful!
Your house is likely to be the biggest investment you make in your entire life. Whether you’re planning to sell it or you’re there for the long haul, it is important to take care of your investment. As any real estate agent will tell you, the first thing people notice about your home is the exterior. You need strong curb appeal to make a good first impression.
With that in mind, here are six simple DIY projects to help boost your home’s value:
Invest in Your Landscaping
Landscaping is often regarded as one of the top three ways to add value to your home in terms of return on investment. HomeGain.com conducted a survey of 2,000 brokers in 2007. The results indicated you could possibly quadruple an investment of $400-$500 on well-planned landscaping.
That said, just throwing a couple hundred dollars at plants is not a good approach. Instead, focus on creating a healthy, vibrant lawn. Fill in dead or sparse areas, fertilize, and clean up edges along your sidewalk, pathways and gardens. Trim overgrown bushes and shrubberies and cut down tangled tree branches. Plant flowers and plants to brighten up your landscape—just be sure to plant perennials that will come back year after year, not annuals that will die within a year and never return. Also, look for plants that are native to your region or are drought-tolerant. They need less water and maintenance, saving you money in the long run.
Upgrade Your Front Door
Your front door is the entryway to your home and it sets the tone for the rest of the house. Make a good impression by ensuring your home’s entry point (including the area directly surrounding the door) is attractive and eye-catching.
The first thing to consider here is whether to replace your existing door or not. If the door you have is good quality and a style you like, you can save some money by just freshening it up a bit. Refinish the wood or paint it for a pop of color; clean and polish the hardware or replace it with something that will add more of an accent; and replace the hinges if they are worn. If you decide to replace the door, look for a well-insulated, energy-efficient, secure door; this is not something you want to cut corners on by going with a cheap alternative.
Illuminate With Outdoor Lighting
Outdoor/exterior lighting adds value to your home in three important ways. First, it helps keep you and your family safe. It’s important to be able to see where you are going to avoid a fall. Second, it adds a layer of security. Keeping your property well-lit is a good way to deter a would-be thief from targeting your home. Third, it enhances the aesthetics of your property. Show off your beautiful home and well-maintained landscape.
Consider which of these aspects are important to you. If safety is your goal, focus on pathways, entryways and steps. If you are more concerned with security, perimeter lighting set on timers and motion-activated flood lights are your best bet. If you want to add curb appeal, light up your trees, unique landscape elements, and water features.
The second thing to consider is what type of lighting to go with. Solar is great because you don’t need wiring and don’t have to pay for power. LED lights produce a bright, crisp light and are energy-efficient. Halogen lighting, though affordable, is being phased out for the most part. Consider replacing existing halogen bulbs with LED replacements (also called LED retrofitting).
Discover the Magic of Pressure Washing
You see your home every day, so you might not notice as it slowly gets dirty and the colors and features become dusty and dim. Just spending an afternoon with the power washer can dramatically add some pop and resuscitate your curb appeal.
First and foremost, read the instructions and specifications of the pressure washer you purchased or rented. Check the water flow in gallons per minute in addition to the PSI, and get one with different pressure settings if possible. Confirm it is okay to use on all the areas you are planning to wash to ensure nothing will be damaged. You’ll probably be okay on things like sidewalks and driveways, but double check that your siding and windows can withstand the pressure. Turn off power to electrical outlets and fixtures and cover them. You may also want to cover plants and flowers if they are close to your house or the area you’ll be cleaning. You’ll likely want to use detergent (only use detergent that is specifically made for pressure washers) for the grimier parts of the job.
Create a Beautiful, Functional Space With a Fire Pit
Adding a fire pit is a cheap, simple way to help get the most out of your outdoor space by breaking it up into different areas. Fire pits consistently poll well among potential homebuyers (especially younger ones), and came in first in expected popularity of design elements, according to the Residential Landscape Architecture Trends Survey. One of the great things about taking on this project is that it can be as simple or as grand as you like. You could DIY a very basic one for as little as $150, or you could go all out and include a gas line (with professional help) and a fancy fixture if you have a bigger budget at your disposal. If you are not as handy, you can get a kit with everything you need and step-by-step instructions. However, building your own fire pit is not overly complicated and will allow you to completely customize it to fit your personal taste.
Upgrade Your Home’s Technology
These days, homebuyers want the latest technology. It’s easy to understand why when you look at all the amazing things technology can do for your household. Having these advanced features can be what sets your home apart from similar ones on the market.
You can install smart locks for added safety and convenience. You’ll never have to stumble around trying to get your keys out of your pocket while carrying groceries again, thanks to Bluetooth technology that will pick up on your phone approaching—and you’ll never stress again wondering if you forgot to lock the door when you rushed out. Smart sprinklers can save time and money. The sprinkler system can adjust based on weather patterns and temperature so you’ll save money by not wasting water.
These are all projects that offer a good return on your investment and can be done without a professional, saving you around 40-60 percent of what you might be charged. Plus, these projects can be wrapped up within a couple days, meaning you could conquer them over the course of a weekend or two. Get out there and start building some sweat equity the smart way!