Posted on

Selling? Don’t Leave Your Money on the Table

It happens often when selling a house. Sellers do the bare basics to prep their home for market but if they did a little more they can reap significant rewards. With some focussed attention on key areas of your home, you will extract the best price the market is willing to pay at that time.

Where should you focus your attention? Prospective buyers are more likely to see themselves living there if they don’t have to look past what needs to be done. Here are some key areas in order of the biggest sale price impact for dollar spent:

  1. Clean & Declutter
  2. Home Staging
  3. Lighten & Brighten – replace light bulbs, remove net curtains, pull up blinds, open curtains
  4. Tidy up Front& Back yards – including your front door…..street appeal is fundamental
  5. Pre-Sale Building Inspection
  6. Paint Interior Walls – either neutralise colours or touch up high traffic areas for marks/dents
  7. Repair Damaged Floors

How far should you go?

The last two items touch on more serious tasks than ‘cosmetic’ preparation for selling your house. If you are wondering whether to embark on some of the bigger renovation jobs before you sell, here is an indication of your sales price return on your cash outlay from biggest to smallest:

  1. Front Door Replacement 98 %
  2. Exterior painting 84 %
  3. Minor Kitchen Re-model (Mid-range)82 %

The key here is knowing how much to do, and what to leave as potential gains for the new owners. By knowing your market, and your agent will be able to tell you this, you will have a good idea.

(Read more:


Giving Your Equity Away

But here’s how NOT TO LEAVE YOUR MONEY ON THE TABLE……….pay for a pre-sale building inspection when you are selling and obtain quotes for repairs ready to show buyers.

Why? Being prepared with quotes to complete repairs identified by the building inspection, and the potential cost to replace items such as carpets, ensures an offer is not reduced by an overestimate of costs by the buyer. Every dollar the buyer reduces their offer by, is potentially money you gave them when the actual costs end up being lower than their estimate…… left money on the table and they took it!