Expert Ways to Increase Home Value
With housing prices at recent highs, it's a great time to sell; and still-low interest rates also make it a good time to buy a home. Findings from a new, exclusive survey of more than 300 licensed residential real
estate agents by the Consumer Reports National
Research Center point to certain factors, such as smart pre-sale fix-ups and negotiable agent fees, that can financially benefit both sellers and buyers.
Fifty-three percent of real estate pros surveyed by Consumer Reports say the kitchen is among the most important rooms of the home to have in good shape before selling. Forty-two percent also says the same about bathrooms.
"You don't have to spend a ton of money to increase the value of your home," says Dan DiClerico, senior editor for Consumer Reports. "Some simple, inexpensive fixes throughout the house can make it more appealing to potential buyers."
Here are some other highlights from CR's survey:
The pros CR surveyed say the best time to sell a home is during the second quarter of the year (April through June) with April being the single best month.
The main reasons people are selling today are because of job relocation and downsizing.
Sixty-four percent says all or most of their buyers did their own housing-market research online.
Money-Wasting Home-Sale Mistakes
Here are some seller slip-ups to avoid:
Overpricing a home. This is the most costly mistake, cited by 43 percent of the agents CR surveyed. A home priced too high will just sit on the market. Expect buyers to know what the markets like; a good agent will show sellers the sale price for at least five similar homes nearby that sold in the past two months.
The full report, "How to Make Your Home More Valuable," can be found at ConsumerReports.org.
Reprinted with permission from RISMedia. ©2015. All rights reserved.