Home News 9 Renovations to Help Sellers Make the Most Money in a Cooling Market

9 Renovations to Help Sellers Make the Most Money in a Cooling Market

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  • You can increase the value of your home by making home improvements before listing your property.
  • Upgrading can be as simple as repainting your front door or removing old curtains.
  • Experts shared with Insider some simple fixes they recommend to help buyers get the best price possible.

Bound by higher mortgage rates, homebuyers are picky, picky, and eager to negotiate. As a result, sellers are desperate to get their property at the best possible price.

And like 75% of all home sellers, they need every penny if they need to buy another home to live in.

The median asking price for new listings rose nearly 9% from this time last year to $383,000, and the median selling price rose 7% to $368,000, according to Redfin.

Still, bidding wars are less common than they were a year ago. remain long However, the market is forcing sellers to lower their asking prices. Buyers have leverage and are not afraid to use it.

This means that sellers will have to put in a little more effort to make the sale completely successful, not to mention getting the best price.

These don’t have to be expensive upgrades like a kitchen or bathroom remodel, but just like having office space in your home so future buyers can imagine themselves there. It can be as small as a real estate agent with a compass.

For example, even just licking the paint works.

“I had a client who had red walls and very floral wallpaper. If you like country French, it was a beautiful apartment.” We painted the whole place white, so it looked completely different.” The Manhattan property sold for an asking price of $775,000.

Jay and Brian Ferrick, Design Director of Meridith Baer Home, a home staging company based in Southern California, discuss some quick, cost-effective ways to increase the value of your property and get the maximum price on your chilled property. , spoke with Insider. market.

While it’s impossible to determine exactly how much these upgrades will add to the home’s final selling price, Jay and Ferrick believe these nine renovations are worth doing.

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