Today we’re diving into a topic that’s crucial for anyone selling their Downers Grove or DuPage County, IL home in 2024. How to preserve and possibly increase your home’s value during the sale.
1-The Importance of Timing When Selling Your Home in 2024
When more buyers are actively searching for homes, it creates increased competition in the marketplace. This heightened competition often leads to a higher demand for properties which can potentially result in achieving higher sale prices. But when do we see more buyers actively searching for homes? Buyer activity often slows in areas of the country that have really cold winters, like Downer Grove, and is referred to as seasonality. But as the weather warms up, we tend to see a surge in buyer activity which may eventually lead to those higher prices.
2-Strategic Upgrades
Not all home improvements are created equally. Energy efficient improvements like better insulation or smart home features can attract buyers and bring a strong return on investment. In fact, the millennial generation in particular, just starting now to have families, are looking for smaller, smart homes that are energy efficient and located in more sustainable locations. Now we all know that kitchen and bathroom renovations can provide a strong return on investment, as well. However, you may not want to invest in such a big undertaking before putting your home on the market. It may be better to invest in some stylish, but more manageable updates instead. Reach out to your local real estate expert for a personalized assessment of your situation. Pro tip – when investing in upgrades, focus on timeless improvements that appeal to a broad range of buyers. Because trends may come and go, but classic features like quality flooring, well-maintained landscaping, and a fresh coat of neutral paint can help preserve your home’s value and attract a wider audience.
3-Pro-Active Maintenance
Pro-active maintenance is truly crucial when it comes to selling your home. It’s not merely about aesthetics, it’s about safeguarding your home’s inherent value. Neglecting maintenance can send a clear warning signal to potential buyers. In fact, I’ve witnessed cases where deferred maintenance had a significant impact, nearly causing a staggering 50% decrease in a home’s market value. A well-maintained home not only passes inspections with flying colors, but it also sends a positive message to all your buyers. To help maintain the value of your home, consider creating a maintenance schedule to stay on top of all of those tasks like HVAC servicing, roof inspections, pest control and more, particularly if you’re thinking about selling your home in the near future.
4-Pre-Listing Inspection
Almost everyone has heard of a home inspection when buying a home, but have you ever heard of a pre-listing inspection before you list a home? It can be a smart move that can save you from unexpected surprises during negotiations. Imagine being able to address any issues before listing, ensuring a smoother more seamless transaction.
Keep in mind that should substantial issues arise during a pre-listing inspection, you are obligated to disclose them to your buyers if you opt not to address the repairs. To navigate this situation effectively, I do strongly advise that you reach out to your local real estate expert for guidance.
5-Skilled Negotiation
Now let’s talk about negotiation. A skilled negotiator can preserve your home’s value by securing the best possible deal. Whether it’s negotiating on price, contingencies, or repairs, a skilled negotiator will be your greatest asset. Don’t underestimate the power of effective negotiation.
6-Curb Appeal
Curb appeal matters more than you might think. Your home’s exterior is the first thing a buyer sees and it’s the first impression that matters. Remember your first date? Simple improvements like a fresh coat of paint on the front door, a well-maintained lawn, and some strategically placed flowers can make a significant difference attracting more potential buyers to your property.
To sum it up, when selling your home in 2024 it’s not just about selling, it’s about maximizing your return on investment. By timing your sale right, making those strategic upgrades, staying proactive with maintenance, considering a pre-listing inspection, and having a skilled negotiator on your side, you can preserve and even increase your Downers Grove home’s value during the sale.
If you found these tips helpful, and have any questions or need personalized guidance on selling your Downers Grove or DuPage County home, don’t hesitate to reach out to Shanon Tully of Shanon Tully Real Estate at Platinum Partners Realtors located in Downers Grove.
Shanon Tully is a licensed real estate broker with Platinum Partners Realtors located in Downers Grove, Illinois. She provides exceptional concierge real estate services throughout the Chicagoland area, especially the western suburbs. A residential listing specialist, Shanon thoroughly enjoys helping clients achieve their goals, and particularly relishes the unique challenges associated with staging, redesigning, and marketing properties. Her attention to detail and dedicated care for her clients has earned her numerous rave reviews! Among other things, Shanon has earned several designations and certifications including SRS-Seller Representative Specialist, PSA-Pricing Strategy Advisor, RENE-Real Estate Negotiation Expert, SRES-Senior Real Estate Specialist, CSC-Certified Staging Consultant. She is eager to speak with you and always welcomes new referrals! Shanon can be reached at 630.435.3585 or [email protected]