A poll of potential buyers released March 1, 2006 by Maritz Research revealed that sellers ought to do more than just look after required maintenance before showing their home. In fact, decorating improvements help make a strong impact on buyers and can ultimately affect a home's market value. The study found that although renovations can boost a home's sales price, sometimes too much unique style can decrease a home's marketability. Therefore, if you're selling a home, you should understand your profiled buyer and make changes that buyers in your price range and location want. The study found that thirty-six per cent of potential buyers were willing to pay premium prices for homes with updated interior decoration. Surprisingly, more men than women wanted updated decor with 41 percent of men versus 30 percent of women desiring this feature. More than likely, this is because women like to decorate their own homes and men want to move in without doing any work on the house. When asked which home feature they would pay more for, 79 percent of buyers said that they would be willing to pay more for a renovated kitchen. However, most of these buyers did not want to pay for a remodeled kitchen in a style they didn't prefer. Home sellers need to evaluate the cost of a kitchen renovation in relation to the expected price increase. Often, a though deep cleaning, painting in today's color choices, and a new faucet combined with home staging strategies give home sellers the market edge without a large cash outlay. The poll stated that 63% of buyers preferred a higher priced home ready to move into than a bargain priced fixer-upper. Because home buyers are willing to spend more for the ideal home, but not the time or work to renovate a fixer, home sellers who take advantage of home staging can make their home feel like a "dream home" without undertaking major remodeling projects. Although most buyers prefer a renovated home, the poll revealed that 65 percent of buyers expect to spend about $5,000 making their home suit their tastes and that only nine percent of home buyers would only buy a home that needs no improvements. Consider your home decorating in your list of home improvements to get your home ready to sell. Copyright 2006 Jeanette J. Fisher |
