Home Staging on a Budget

First Impression

Start outside. That’s right, start on the outside first! It’s the first impression your potential buyers will get. If potential buyers drive by a house and don’t like the way it looks on the outside, they will not even bother looking on the inside!  The outside of your house should be designed to make you want to go in.  Your landscaping is just as important as the décor on the inside.  Your grass should always be cut, leaves raked, weeds removed, and hedges trimmed. But, beyond that, consider making your outdoor space part of your living area.  Invest in some outdoor furniture, a few potted plants, and some outdoor lighting.

Clutter Be Gone

Now, moving on to the inside! The first thing you need to do is clear the clutter! Remove all unnecessary items by packing them away. This will help potential buyers “see” themselves living in the space. If your home is cluttered, potential buyers will feel like there is not enough space. Don’t worry, you can reunite with your things in your new home!! By packing unnecessary things now, you will make your moving day much easier.  If you have a lot of things to pack away, you may want to consider a mobile storage unit that can move with you when the time comes.

Let There Be Light

Poor lighting can turn even the most beautiful designed home into a disaster. There should be three sources of lighting in a room: natural light, overhead light, and task light. It’s always best to use natural light, so open the curtains (and clean those windows!).  Use soft white light bulbs for your overhead and task lighting (lamps 😊). New light bulbs and clean windows, how’s that for budget friendly??!!

Feel At Home

The kitchen and dining room are often considered the heart of the home.  It’s very important to make sure these spaces shine at all times. Once again, declutter.  Remove all unnecessary items from countertops to give the appearance of plenty of working space.  If these rooms look outdated it can affect the mood and atmosphere. Remember, you want the potential new owner to feel at home! The best way to freshen up a room is by painting! Use a neutral color to give your home a new look. Bathrooms are also spaces that need to be fresh and clean. Simply paint bathrooms in a neutral color and make sure the tile is fresh and clean. Replacing the tiles every time they lose their shine can be expensive, but you can easily make improvements on the surface. A tile refreshing kit or spray paint will do the trick and you can do the job yourself. Paint is one of the most budget friendly thing you can do to transform a room!

How Buyers’ Age Affects the Sale of Your Home

National Association of Realtors (NAR) recently released a study stating that young buyers are taking over. The younger generations (Generation X and Millennials) are becoming increasingly significant parts of the housing market.

NAR found that the largest group of recent buyers was the Millennial generation, those 34 and younger, who composed 32 percent of all buyers. Generation X, ages 35-49, was closely behind at 29 percent. The younger Boomer (ages 50-59) and older Boomer (ages 60-68) buyers at 31 percent. The Silent Generation (ages 69-89) made up 10 percent of buyers.

What This Data Means to The Homeowner

Millennials have the buying power, so get your home turn-key as much as you can. This is the generation of instant gratification. Millennials are also young busy professionals who may have a young family, so this group tends to prefer a turn-key home with little to no maintenance.

Many Millennials prefer new home purchases to avoid renovations or problems with electrical or plumbing, and the ability to customize their home. Young buyers who bought previously owned homes purchased their home for a better price and overall value, as well as for the charm and character the home provided. If you have an older home, highlight the personality and character so that it stands out from the competition. Highlighting things like original hardwood floors, architectural details, original light fixtures, etc. can add charm and appeal to your home.

You should also do some research to figure out who your target buyers are. Better yet, partner with a knowledgeable Realtor to help you get top dollar for your property! A good Realtor will know who your target buyers will be.

Millennial buyers are looking for different features than Generation X buyers. Millennials are mostly young professionals, often single, so having a home that is easy to maintain will be a higher priority compared to Generation X buyers who have more experience with taking care of a home. This research will help you know how to invest your home improvement dollars to appeal to the largest target.

Six Inexpensive Upgrades To Help Sell Your Home

Boost Curb Appeal

Curb appeal is everything when selling your home. It’s the first impression of your home so it needs to invite the buyer inside. If the lawn is not mowed and the paint is chipping, this gives the impression of a home that has not been care for. It leads the buyers to wonder what has not been taken care of on the inside. Here are a few ways to boost your home’s curb appeal:

Exterior: A new coat of paint or rent a power washer to give your home a fresh look. Paint or clean the front door and add a few potted plants.
Mow the lawn: Make sure to mow and weed eat the lawn to make the home looked cared for. Be sure to pick up any toys and remove any clutter.
Install a fence: A fence will give a nice visual punch to your property and will appeal to those with children or pets. More importantly, appraisers will give extra value to a fence in good condition.

Add Echo-Friendly Features

Glaze and caulk around windows. This is a simple way to reduce airflow and cut the cost of heating and A/C. Simply glaze around the glass and caulk the framing around the windows. This can be a simple DIV afternoon project.
Add insulation to the attic. This is slightly time-consuming, but it can be a DIV project and should not cost a lot of money. You will be able to market this new insulation as a means to cut heating and cooling bills as much a $600 per year.

Add New Detail Elements

An updated look will go a long way in speeding up the sale of your home. This is especially true if you have an older home. Simply changing the hardware on your cabinets and drawers will freshen up a kitchen or bathroom. A few inexpensive upgrades, such a faucets and new light fixtures, will lend a more up to date look as well. These home improvements should only cost a few hundred dollars, but these small details really make an impact on the buyer.

Open Up Small Spaces

Decluttering is one of the best ways to highlight space. Remove all unnecessary items so there is the appearance of plenty of space. If your room is full of stuff and your closets are overflowing, your potential buyer will perceive the home as not big enough for their needs. Once you have decluttered, consider painting the walls a light neutral color. Adding mirrors will also make the space feel bigger. Light is very important in a home as well. Consider replacing curtains for a sheer option to let more natural light in and replace lightbulbs with soft white bulbs in overhead lighting and lamps.

Upgrade Outdoor Space

Buyers want to envision themselves living in the home, and a patio or deck is a great way to set the scene for them. If you already have a patio or deck, re-stain or re-paint it to give it a fresh look. If you have existing outdoor furniture, make sure it is clean and consider buying new cushions and pillows. If you do not currently own outdoor furniture, buy some. It’ s an investment you can take with you to your new home!
If you do not have a patio, consider building one. A deck or patio area can be built with wood or stone.
Be sure to add potted plants or line with shrubs to boost the appeal. Add furniture and even a fire pit to give it that luxurious outdoor living feel.

Install a Home Security System

Home security systems are inexpensive and easy to install. When you go the DIV route, you can add only the elements you want. Adding outdoor lighting and motion sensors will add value to the buyer. Also, adding window and door sensors are an easy upgrade. It’s icing on the cake when you say you will throw the security system in for free with the purchase of the home. A home security system will give the homeowners peace of mind, especially if they are new to the area.

These small, inexpensive upgrades can make all the difference when selling your home. These upgrades could be the reason a buyer chooses your home over a competitor’s home. Make sure these upgrades are mentioned by your Realtor when showing the home.

What Millennial Home Buyers Want

Since Millennials are the largest percentage in the real estate market, now is a great time to look at six home features and trends that appeal to this group.

Multi-Purpose Open Spaces

Younger buyers desire open floor plans. Traffic should flow freely from the kitchen to the office to the living area. Many Millennials spend time commuting to and from work so time with others is priority. So, while dad is in the kitchen preparing dinner, the kids can be doing homework or playing games in the living area or breakfast nook while mom is in the home office working on a project. Instead of dedicated rooms, each area is defined by furniture rather than walls and hallways. So, keep this in mind when budgeting home improvement dollars. Sometimes removing a wall can completely change the flow the home. Have a contractor give you an estimate of how much it would cost to remove a non-loadbearing wall. It could be a small investment that yields a great return on investment.

Automation

A home without 24/7/ 365 cellular service may as well be out in the north forty!! Millennials check everything from news, weather, work to social media online. That means they love lightning-fast Internet speeds and charging outlets always in arm ‘ s reach. One study found that 86 percent of Millennials would pay 20 percent more for a ” smart ” home: one with smart locks, light controls, smart thermostats and built in home security systems.

 Energy Efficiency

The typical Millennial’s budget is already filled with recurring payments such as cell phone plans, student loan payments, insurance premiums, car payments, subscriptions such as Hulu and Netflix, etc. Millennials are very aware of the financial drain from the recurring costs, and at the same time tend to care strongly about the environment. This makes managing their use of energy at home a big priority. Millennials would rather pay money now to save money later. So, think triple-pane windows, added insulation, energy efficient water tanks, energy efficient appliances when considering your home improvement budget.

Low Maintenance

Millennials work hard and typically spend longer days at the office and more time commuting than those of other generations. This makes low maintenance a top priority. They don’ t want to spend the free time they do have mowing the lawn, watering flowers, waxing floors, etc. Low maintenance finishes and surfaces are very important, like stone or quartz countertops, engineered wood floors, easy clean appliances and xeriscaped yards (water -conserving  landscapes).

Easy Commute

By the time Millennials are ready to purchase a home, they have probably delayed marriage, postponed kids, and jump-started their careers. They have spent their time in studio apartments and are ready for the suburbs. However, they still want a short commute. Almost 70 percent of Millennials cite a short commute as a critical factor when purchasing a home. When marketing your house, be sure to mention access to major highways.

The More Furnishings, The Better

Millennials move frequently, and often they move long distances. Rather than moving all their belongings, Millennials would rather purchase a home that is furnished. Major appliances such as a refrigerator, stove, oven, dishwasher, microwave, washer and dryer are very desirable. Many Millennial buyers want furnishings as well. If the budget allows, selling a home fully furnished will bring top dollar for your property. If your target is the Millennial buyer, be sure to stage your home with modern furnishings, hardwood floors, neutral colors and lots of space between furniture.