With the prime homebuying and selling season approaching, a 2023 analysis by property data provider ATTOM found homes sold in May net 12.8% more above a home’s market value. If you plan on selling this Spring, here are nine budget-friendly ways to help sell your home faster and for more money.

1. Stage your home

Staging a home can be an easy way to entice potential buyers. According to the National Association of Realtors and Realtor Magazine, staged homes sell on average for 25% more than homes without staging, and 83% of buyers’ agents said their clients were more likely to feel at home when the house was properly staged. Whether it’s as simple as using your own thrifty finds, furniture and art to enhance certain spaces, or hiring a home stager to help, it can make a big difference.

2. Maximize light

Homes that are brighter and lighter usually sell faster. Why? Lighting can be a natural mood booster. Doing little things like adding new light switches, replacing old bulbs with energy-efficient ones and ceiling fixtures with a more modern design, or cleaning windows can make a big impact to prospective buyers and even add value to your home’s resale price. According to Zillow’s 2023 features that sell analysis, LED lighting is associated with a 1.5% sale premium.

3. Give the entryway a face-lift 

An entryway is one of the first impressions visitors get of your home. In fact, a study found that 76% of buyers think first impressions are everything during the homebuying process. With a fresh coat of paint, power washed front door, or upgraded doorknocker and set of new house numbers, your home may encourage buyers to tour the rest of the house.

4. Ramp up the curb appeal

Did you know homes with high curb appeal sell for 7% more on average than houses with a less-welcoming exterior, according to a study by the University of Texas at Arlington? Mowing your lawn, adding fresh mulch to garden beds, and lining your deck or terrace with potted plants can sometimes be the quick face-lift a home needs to sell quickly. If you don’t have a green thumb, consider replacing your mailbox or repainting your fence to add flair to your home.

5. Make quick kitchen updates

According to Zillow, a minor kitchen remodel can yield an 81% return on investment. Luckily, when it comes to spiffing it up, you don’t need to spend a lot. Simple things like fresh paint, upgrading light fixtures, refinishing or repainting old cabinets and replacing outdated hinges or drawer handles can drastically transform your kitchen’s appearance.

6. Spruce up bathrooms

Zillow data shows bathroom remodels yield some of the biggest returns in terms of boosting your home’s resale value. Just like kitchens, bathrooms are a major focal point for potential buyers. A complete remodel may have you worried for your wallet, but doing smaller, more cost-effective upgrades can be almost as impactful. For instance, installing new light fixtures, steam cleaning or re-grouting the shower, replacing old bulbs, and adding a new mirror can make a drastic difference for little dough.

7. Go green

Going green can positively impact your home’s sale value and save you money while living in it. This can be major (like adding solar panels), or something relatively inexpensive, (like sealing cracks in the door or window trim with caulk). Additionally, insulating your attic properly can save you as much as 50% on your energy bills, according to the Department of Energy.

8. Update the look

A fresh coat of paint can give life to an old, drab interior. Zillow compiled a list of the best interior paint colors for selling your home. Colors like dark gray tend to attract more prospective buyers and higher offers. Depending on your space’s size and willingness to do the work, this could be a cheap fix.

9. Clean and declutter

One survey by Consumer Reports suggests that, as a home seller, you could see 3%-5% higher proceeds simply by decluttering and depersonalizing the space inside your home. Cleaning and de-cluttering your home can maximize existing space, make it feel more spacious, and as a result, more appealing to prospective buyers. Additionally, removing excess furniture, photos and knick-knacks, and strategically placing mirrors throughout the home will enhance the size of a room during showings and allow buyers to picture themselves living there.  

For more buying and selling tips, visit the Homeownership page at efirstbankblog.com.

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