Winter Home Improvements for Sellers Table of Contents Section I: Page 2 Selling your Home: A Winter Reality Check Section II: Page 5 Small Improvements Make a Big Difference Page 1
Section I Selling your Home: A Winter Reality Check Page 2
Selling your home: a winter reality check If you re planning to sell your home in the near future, don t let this winter season get away from you. This is a great time to take a hard look at your property and gather information that will help you better market your home in the prime selling months ahead. And because it s traditionally a slower time for real estate agents, you can be choosy. The best ones will most likely be able to meet you at your convenience. Interview several, and get a variety of opinions about how to price your home and what might be done to increase its appeal. Winter is also a good time to discover hidden problems that could impact your home s value. Are seals on any windows broken? Do carpets need cleaning or replacing? Check for cracks in walls, or stains on ceilings. Handymen are also eager for work in the winter, and these are things you may be able to address less expensively now, rather than later. Lastly, it s a great time to do some research. What are other homes in the neighborhood selling for? How long are they on the market? Tour some homes if you can, and evaluate their asking prices based on square footage and upgrades. If you decide to proceed with remodeling or repairs, your mortgage experts at Flagstar Bank can help with a cash-out refinance, a home equity loan or line of credit. We ll suggest a great, low-cost option to finance needed improvements that can help you sell more quickly or get a better price. Page 3
The home seller s winter checklist Hire An Agent Get an objective opinion of your home s value and how you can market it successfully. Inspect for Problems Do a thorough inspection of your home as if you would be buying it. You may find it beneficial to hire a professional home inspector. He can help uncover needed repairs prior to listing your property. Make Necessary Repairs It s usually cheaper to fix things now before they show up in an inspector s report. Do Your Research Check out the market. Find out what people are buying, and what they re paying. Create Your Home s Story Create a binder that lists upgrades and positives. Include before-andafter pictures if you have them. You can tell your home s story best. Smartzip Analytics 2015 Page 4
Section II Small Improvements Make a Big Difference Page 5
Make good use of those indoor days There s generally not as much work needed outdoors in the winter no lawns to mow, no leaves to rake. So, it s a great time to put some elbow grease into those simple indoor home improvement and repairs. You may want to repaint a room. Remove some outdated wallpaper. Or update those old light fixtures with something a little more on trend. Hiring a professional stager or interior decorator can help you evaluate where your money is best spent. And here s something you can do just a few hours at a time declutter. Get some boxes and start putting things into three different categories: things to sell, perhaps in a spring garage sale or online, things to donate to a worthy charity, and things you may just want to store for now and things to trash. That old half-burned candle is not worth hanging on to! The idea is to make your home look fresh and inviting. Then, use your extra time for cleaning. Polish countertops. Scrub down cupboards. Dust blinds. Go over all your baseboards and other woodwork. Whatever you can address now you won t have to worry about when putting your home on the market when the weather improves. Page 6
Six low-cost ways to increase your home s value 1. Organize, Clean and De-Clutter For a few hundred dollars you can hire a professional cleaning service to clean your entire home. Also, de-clutter your rooms to make them look like they have more space. Then sell your stuff, give it away, put it in storage or toss it. 2. Light Up the House Spending a $1,000 or less on new lighting fixtures can lighten up your home s best features. Nearly a third of seller s agents believe staging increases a home s value 6-20% Home Staging Resource, 2017 3. Get Designer or Staging Help Professional staged homes have a higher perceived value by buyers than unstaged home, leading to higher offers. Page 7
Six low-cost ways to increase your home s value (cont d) 4. Clean or Repair Flooring Consider either shampooing or fixing damaged flooring. You can always find deals on professional carpet cleaning. 5. Fresh Paint Paint not only the walls, but also the ceilings, baseboards and trim with a neutral color. Fresh paint can add up thousands of dollars to your home s value. 6. Simple Updates to Your Kitchen or Bath Paint cabinetry rather than replace it. Add stainless steel or chrome fixtures. Update cabinet hardware and lighting. These cosmetic changes can add several thousand dollars to the value of your home. If remodeling or repairs are on your winter to-do list, contact the homelending experts at Flagstar Bank. We can help you decide which projects offer the best return on investment and provide financing solutions that work best for you. Page 8