Boost Your Home’s Selling Price: 5 Pro Secrets | Consumer Reports

Boost Your Home’s Selling Price: 5 Pro Secrets | Consumer Reports

If you’re selling your home,
keep millennials in mind. They’re 75 million
strong and house hunting. Millennials want move-in ready. They want to cook in
that kitchen from day one and entertain in the
backyard that very weekend. Consumer Reports says
the right renovations can boost your home’s value by 35%. So spend your makeover money
where it will count the most. A Consumer Reports survey of
more than 1,500 millennials nationwide found a modern
updated kitchen tops their list of the ideal home features. And you don’t need
to spend a lot. For as little as
$5,000, you could add a new suite of stainless
steel appliances, new flooring, and new countertop. You’ll have a clean,
contemporary look that could lead to a 3% to
7% bump in the sale price. Have a bigger budget? Think about knocking
down a wall. Millennials are also looking
for an open floor plan with flexible
living space, which could increase your selling
price another 4 to 6%. Another good way to add value is
by expanding the living space, maybe by finishing
an attic or basement. And it’s always a good idea
to use materials that don’t require a lot of maintenance. Like counter tops
made of quartz, which shrugs off heat,
scratches, and stains. Also, consider ditching
dust-catching wall-to-wall carpet in favor of
durable hardwood floors. And don’t overlook
the power of paint. A fresh coat, particularly
in high traffic areas, can boost your selling
price and another 1% to 2%.

23 thoughts on “Boost Your Home’s Selling Price: 5 Pro Secrets | Consumer Reports

  1. It is your agents expertise that can guide you on pricing so that you are attracting the most buyers without sacrificing Your Net Equity from the sale. Pricing, presentation and marketing are what will NET you the most money. Hire a good agent to show you which repairs and upgrades are low cost and will give you the best return on your investment and how to prepare your home for the market.

  2. Your consulting option is good. Good cash for selling home is desire of every seller but all of them get that is not possible as there are lots of brokers who grab their attraction and in the end they have to satisfied in broker desire price.

  3. when you say '7%' return for spending $5000 on the kitchen, do you mean 7% of the houses price? $350 hardly seems worth it…

  4. My realtors have always told me to paint the entire inside of my homes before I sell them off white. You can paint it whatever color you like if your home is worth more then $5 million. People in this price range like more vivid colors and variety in the decorating.

  5. Good tips but all a lot of work. A good strategy if market condition is hot is to purposely lower the asking price and create a bidding war. When buyers are fighting each other to get the deal, they will up 50 thousands dollar for nothing. Do less and get more! Let buyers fight each other.

  6. I sold a house a few years ago and did absolutely NOTHING recommended by the agent. I did speak with qualified buyers and pointed out technical details about the house that made it a superior structure (framing materials, roofing sheathing and shingle types, foundation and drains, quality of the plumbing, heating system, how the AC was installed, etc. It's my experience that realtors often go into very few, if any, of these vital details. Usually they say things like, "isn't this pretty" or "look at all the light". Bottom line: I sold the house to the first qualified buyer for more than the asking price just to cancel a showing scheduled for later in the day.

  7. Real-e-tors??? I have never heard of this. Does she mean "realtors"??? Notice that there are no vowels between the "real" and the "tors"?? So many people conflate the term "Real Estate"  with "Realtor" and throw the "E" sound from "Estate" in the middle of "Real-E-tor".

  8. Great video!  As a professional home stager, I agree with everything outlined in the video.  If you want top dollar for your home, you may need to simply put some sweat equity into your home, and possibly few dollars to make those necessary updates.

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