Someone who is preparing to list their property for sale by owner (FSBO) typically hopes to earn as much as possible on the transaction. They forgo having a real estate agent to oversee the process to avoid paying 6% percent of the sale price or sometimes even more for their services.
In addition to avoiding costs, like agent fees, sellers may also want to maximize the sale price of their property. Doing so often requires making strategic investments before listing the home on the market. Certain repairs and improvements, including the following, can translate to a significant increase in property value.
Kitchen updates
Many people romanticize the kitchen. They imagine their families spending hours talking in the kitchen and perceive it as the heart of the home. Trendy appliance finishes, stone countertops and other upgrades can increase how appealing a property is to buyers and therefore the price they will happily pay for the home.
Bathroom renovations
People want their bathrooms to be bright, clean and functional. Older fixtures, leaking sinks and other minor issues can significantly diminish how attractive the home is to prospective buyers. The money invested in the bathroom upgrade can translate to significant increases in property value.
Finishing basement space
If an Ohio home has a full basement, adding egress windows and turning it at least partially into living space can increase a home’s value. That below-grade space can add quite a bit of square footage to the home. It can offer another office, a bedroom, a den or an exercise space. People happily pay more for homes that have more living space for them to enjoy.
Improvements to curb appeal
Few aspects of a home are more important than its first impression. How the property looks as visitors approach can influence what they think of the interior and how much they perceive the home to be worth. Cleaning up the sidewalks, washing the siding and even planting annual flowers when in season are all ways to increase curb appeal and maximize what people will offer for a property.
Listing a home FSBO often involves a lot of preparation and research but can ultimately lead to a better return on someone’s investment.