Jennifer Waters is a Chicago-based, award-winning business writer who has primarily covered business news for 25-plus years in major national print, radio, and TV broadcasts, as well as online.
Doug is a Chartered Alternative Investment Analyst who spent more than 20 years as a derivatives market maker and asset manager before “reincarnating” as a financial media professional a decade ago.
Before joining Britannica, Doug spent nearly six years managing content marketing projects for a dozen clients, including The Ticker Tape, TD Ameritrade’s market news and financial education site for retail investors. He has been a CAIA charter holder since 2006, and also held a Series 3 license during his years as a derivatives specialist.
Doug previously served as Regional Director for the Chicago region of PRMIA, the Professional Risk Managers’ International Association, and he also served as editor of Intelligent Risk, PRMIA’s quarterly member newsletter. He holds a BS from the University of Illinois at Urbana-Champaign and an MBA from Illinois Institute of Technology, Stuart School of Business.
Looking to sell your house? Thereâs a whole host of to-do tasks to accomplish before putting up that âFor Saleâ signâchores that go well beyond choosing a selling price.
Selling a homeâparticularly if youâve lived there for many yearsâcan be emotionally draining. Part of the stress comes from the need to declutter, refresh, and stage your home for sale.
Key Points
Remember that buyers want to envision their belongings in your space.
Cleanliness is all-important; surfaces should sparkle or be freshly painted.
Donât overinvest in costly updates that may not match buyersâ desires.
Where did all this stuff come from?
Consider the case of Joseph and Lynn. When the couple was looking to downsize the four-bedroom, two-bathroom home they raised their five children in, they knew they had a huge task ahead of them. They had 30-plus years of knickknacks, childrenâs memorabilia, electronic gadgets, equipment, unused furniture, and all the other paraphernalia that families accumulate over multiple decades.
They joked that their basement had become an oversize drop-off box for belongingsâmuch of it junkâtheir children werenât ready to part with but had nowhere to store.
But cleaning out the house wasnât even the half of it. The couple had barely noticed how outdated and, well, grubby, their house had become since they had last redecorated some 15 years before. Ditto for the exterior and the landscaping.
To make matters worse, they hadnât bought or sold a house in more than three decades. They didnât know where to start, what the new home-selling ârulesâ might be, or where to focus their attention. What they needed was a checklist or cheat sheet to lean on.
If youâre in a similar situation, here are seven steps to help you get started.
7 steps to home selling
Price it right. This can be trickyâand itâs why we often see homes priced with 999 as the last three digits. Set the cost too high and you might price yourself out of key target groups; too low, and you might not like the offers you get. Take the marketâs temperatureâis it a sellerâs or buyerâs market?âand have a comparative market analysis done to help determine your homeâs value based on comparable home sales in the neighborhood. Agents will do this for free; a professional appraiser will do it for a fee. Donât let emotion get in the way.
Upgrade the curb appeal. Take a good look at the first thing potential homebuyers will see; the âcurbâ sets the tone for whatâs behind the front door. Mow the lawn or reseed if itâs looking spotty. Power wash walkways and siding. Create an inviting entryway thatâs clear of dead shrubbery, weeds, dirt, grime, or debris. Repaint shutters and doors; replace lighting and welcome mats. Set up fresh planters or relaxing chairs to frame the entrance or a porch. A seasonal wreath on the door often perks it up, too. Donât overspend on new landscaping; the buyers will likely have their own preferences. It would be a shame to plant a bunch of new trees and bushes only to have them replaced a few months later.
Make it pretty. Beauty, of course, is in the eye of the beholder, but bold colors or wallpaper that might give the sellers joy could be off-putting to potential buyers. Yes, a fresh coat of paint can do wonders, but opt for neutral colors for an open, bright look. Open curtains or shades to let lots of light in. Donât skimp on the photos or try to do them yourself. Most people shop online before attending a showing or open house, so the first impression has typically been set before a buyer sets foot in the home. Hire a professional who will optimize the lighting and choose the best angles.
Update the obvious. Oldies are not goodies in many homes. This doesnât require sweeping renovations, or full-on gut-job remodels, but remember that the rooms most buyers are attracted to are the kitchen, family room, and bathroom. Easy changes can range from replacing lighting and hardware to adding new pillows or greenery. And, yes, donât forget that fresh coat of paint. Donât do a partial or slapdash remodel. Buyers can tell, so it will likely be money out the window. Commit one way or the other to get the most bang for the buck.
Clean up the clutter. Clear off the counters, clean out the cabinets, tidy up the closets. Most buyers are looking for ample storageâsome 64%, according to a Zillow survey. Decluttering makes a home look cleaner and roomier, especially counters and closets. Some experts suggest opening up 20% to as much as 40% of your closet to create a more spacious feel. Donât leave your stuffâfamily photos, knickknacks, heirloomsâlying around. Buyers want to envision their own things in a home rather than yours.
Do a deep dive into housecleaning. No one wants to tour a dirty home or think about how they may have to hire someone to thoroughly clean it up if they buy it. Coldwell Banker recommends that sellers get their homes sparkling clean, noting that âfrom shining floors and gleaming windows to clean counters and scrubbed grout, every surface should sparkle.â Itâs essential, the residential brokerage firm says, âto help your home put its best foot forward.â Donât leave traces of Fluffy or Fido. If you have a pet, take that extra step to make sure there is no pet odor. Deodorize the home and steam-clean carpets and furniture.
Set the stage. Once youâve cleared out your personal stuff, stage the rooms by getting rid of excess or overly bulky furniture to promote the flow. According to the National Association of Realtors, 82% of buyersâ agents said good staging makes it easier for a buyer to visualize the property as a future home. Remember, homebuyers want to envision their own stuff in your space. Donât make things too sterile or industrial, like a corporate conference room. Buyers want to see a home thatâs lived in and comfortable, according to Coldwell Banker. Strategically place cut flowers on a dining room table or in the entryway; put fresh logs in the fireplace. A bowl of lemons near the kitchen sink reinforces cleanliness.
The bottom line
Moving nearly always ranks among the top triggers for stress, what with all the clean-out and clean-up tasks that must be completed before listing a home. Put a game plan in place to get through the to-do list and move on without regrets.
