HomeHome Sellers January 27, 2021

4 Home Renovations that Return the Most at Resale

After months of working from home, you may have noticed some areas of your house that need refreshing. Well, before you spend thousands of dollars remodeling your bathroom, it might be helpful to know some of the renovations that return the most at resale. Below we have listed the West Coast’s average recoup values of four renovations that yield a high return on your investment. 

Manufactured Stone Veneer: 119.5% Cost Recouped

Also known as faux stone, manufactured stone veneer is a human-made material designed to replicate the look of natural stone. This remodeling project tops our list at an average of 119.5% recouped value at resale. Manufactured Stone Veneer is incredibly versatile. If you are looking to give your house a modern look while retaining a rustic vibe, this remodeling project is perfect. Cultured Stone has more information on Manufactured Stone Veneer projects. 

Garage Door Replacement: 117.1% Cost Recouped

We use our garage doors daily, and over the years, they are bound to have some wear and tear. Whether it’s the wood rotting, the track hardware malfunctioning, or just out of date technology, a garage door replacement is a safe investment with an average of 117.1% recouped value at resale. Most homes can benefit from a garage door replacement, but the Spruce can help you decide if you have more questions.

Entry Door Replacement: 87.9% Cost Recouped

Coming in third on our list are steel entry door replacements. Wood doors are beautiful. Unfortunately, they don’t withstand the test of time very well. Installing a new entry door made from steel will guarantee long-lasting beauty for years to come. Along with an 87.9% recoup value at resale, steel doors are a solid investment. Pella is an excellent resource if you are looking into more options on entry door replacements. 

Minor Kitchen Remodel: 77.6% Cost Recouped

Everyone loves a kitchen that looks brand new with sparkling appliances and space to cook. A minor kitchen remodel can go a long way. Simply leave cabinets where they are and replace their fronts with new shaker-style wood panels. Then add new, modern hardware. Go a step further by replacing the oven range and the refrigerator with more energy-efficient models. Replace laminate countertops and upgrade your sink and faucet to really make your kitchen shine. Finish with a fresh coat of paint and you’ll be wishing you would’ve done this years ago.

Hopefully, this list gives you the inspiration to get started. And, these suggestions are just the beginning. If a renovation you want isn’t on this list, but it’s something you’ve always dreamt of, then don’t let us stop you from making it come true. For more information, check out Remodel Magazine’s Cost vs. Value Report. If you’re thinking of selling your home, check out our home seller’s checklist.

Home Sellers November 17, 2020

Why You Should Stage Your Home in a Seller’s Market

We have a strong seller’s market, which means it’s an excellent time to sell your home. Inventory remains low and there are many anxious buyers wanting to move out of crowded cities to a beautiful place like Bainbridge Island. In our third quarter, our closed sales were up by 46% year-over-year. But just because our market (or any market) is doing well doesn’t mean you should casually list your home and expect to experience an incredible multiple offer situation. Some sellers are asking our agents this question: “Why do I need to stage my house if the market is so hot?” Our answer: It may be the best way to yield the outcome you want. Here are some key facts and figures for you to consider.

Proper Preparation Still Matters

If you have a good agent, you’ll know how important it is to take the time to make sure your home is ready to put on the market. Even though our market is strong with many success stories, there are still some houses that are sitting on the market for longer than others. Sometimes it’s because they were priced too high or they didn’t take the time to prepare. Most buyers right now don’t want a fixer-upper, in part because of the pandemic. They don’t want to have to deal with workers in their house. So, carefully prepare your home and utilize your agent’s local knowledge, resources, and expertise.

Think Like a Buyer

First impressions are everything and photos are usually buyers’ first glimpse of your property. In fact, 95% of people search for homes online. So, you want to grab their attention with beautiful visuals. In a recent report by the NAR (National Association of Realtors), buyers rated photos as the most important element in their home search process. They rated it higher than the description of the home and higher than the location.

Now, you may think a photographer can simply take photos of your home as it is. However, if your home is cluttered or filled with various personal touches (as most of our homes are), it can be difficult for buyers to imagine themselves living there. Expert stagers can draw people in and provide just the right amount of detail. The research supports this as well. According to the NAR, 83% of buyers’ agents said staging made it easier for buyers to see themselves living in the home they were viewing.

The Potential Return on Your Investment

According to last year’s NAR report, sellers’ agents stated that when staging a home, 39% saw an increase in the dollar value of the home, anywhere from one to ten percent. Additionally, 28% of sellers’ agents saw a decrease in time on the market for staged homes. So if you stage your home using local experts, it could greatly benefit you, especially when you think of how this information applies to our current, local market. Serious buyers are out there but you want to make sure you’re putting your best foot forward in order to achieve success.

 

Home Sellers May 27, 2020

Home Seller’s Checklist: How to Successfully Sell Your Home

Adequately preparing your home before putting it on the market will help you successfully sell it. There are some important steps to take that can drastically improve your home’s appeal, ensuring it will sell for the best price and in a timely manner. Here’s our home seller’s checklist to help you get ready.

Preparing Your Home for Market

We highly recommend listing your home at least three months before your ideal “closing date”. The listing date is an important factor and it’s crucial to make data-driven decisions. That’s where a real estate agent with expertise comes in to inform and guide you through the process. An experienced, local real estate agent knows the market and can help you properly prepare your home. Agents can point out necessary changes, but it is important that you take care of any projects you have been avoiding so that everything is done before your listing date.

Decluttering

Since you will be moving, jump-start the packing process by decluttering your home. Don’t forget to donate unwanted items to Goodwill or the local Rotary Auction.

  • Clutter and random items should be packed away, including most or all of your family or personal photos. This gives the prospective buyer a chance to envision themselves in your home.
  • If you can move out and allow your agent to stage your home, this will take all of the responsibility off your plate. Here are the benefits of staging your home.

Appearance and Hardware

Before putting your home on the market, take a look at your home’s overall appearance and hardware.

Ask yourself a few questions:

  • When was the last coat of fresh paint? (Inside and outside)
  • Is the landscaping up to your standards? Are there any patches of dead grass or any dying trees?
  • What condition is the flooring in?
  • Is the hardware in your home working properly? (Sink hardware, doors, windows, light fixtures, and appliances)

Agents Are Your Best Resource

Any good home seller’s checklist makes one thing clear: it takes work to properly get your home ready to sell. But if you have a great agent, they will help you every step of the way and make this the best experience possible. Here’s what they can do so that it’s not up to you to navigate all of this on your own.

  • Help prevent and reduce stress
  • Project manage the process of selling your home
  • Provide you with a list of priorities
  • Offer their up-to-date market expertise
  • Utilize their global marketing network and their local connections to excellent stagers, photographers, landscapers, home-repair contractors, etc.

Our Windermere Bainbridge Island real estate agents go above and beyond for their clients. As highly knowledgeable locals, they possess decades of experience and are invested in our community.

Before Showings

Once your home is ready to be listed, here are some key tips for when your home is being shown.

  • Due to the current pandemic, it is important to know the latest CDC guidelines and specific safety standards that the real estate industry is following.
  • Make sure your home is set at a comfortable temperature. Usually mid to high 60s is appropriate.
  • Light up your home: turn on all the lights inside, and in the evenings turn on your exterior lights.
  • Are you a pet person? Make sure to keep them in a separate area, and if you have cats, remove or hide the litter boxes.
  • Hide money and valuable items.
  • Open up all drapes and curtains to fill your home with as much natural light as you can.
  • Interior doors should all be open except for closets.

During Showings

Sometimes showings can become constant. If you are unable to leave during the showing period, here are some helpful tips.

  • A buyer will likely feel more comfortable and spend more time in your home if you are not there.
  • Try to keep your distance, and keep children and pets quiet and out of the way.
  • Don’t interrupt or follow potential buyers through your home.
  • Allow the agent to show and sell your home. Rely on their expertise.

Additional Resources

For more information, download our Market Prep Guide and our Pre-Listing Checklist. We also have an extensive Guide to Selling a Home which provides information about the home inspection, settlement and closing, moving, and terms often used. And, if you need further assistance, you’re welcome to contact us.