Adding Value - Invisible Improvements
Naturally, apart from location, money spent on large cosmetic improvements is always the biggest factor in adding value to the sale price of a home.
But vendors should remember to inform their agent of all the features of their home, not just the cosmetic ones.
In the current market where purchasers are taking their time to compare properties for sale before making a decision, improvements that aren’t obvious may not only add dollars to the price of your home, but also determine a purchaser’s choice in favour of your property. In a very active market, purchasers often make decisions based only on a quick analysis of the major features of the home; they don’t always have time to pay attention to detail because they are likely to lose the property to a buyer who is prepared to move faster. When the market slows down, however, they have a lot more time to be fussy about even the smallest details in the effort to ensure they are making a good buy.
Invisible improvements can include things like insulation, sound-proofing, plumbing and electrical work, soil improvements and so on. Purchasers often use this kind of information to help them confirm the soundness of their choice; the quality of the maintenance and attention to detail makes them feel comfortable and secure in the knowledge that their choice is a sound one.
Most agents will prompt vendors to tell them about the improvements they have made over the years, but it is a good idea to have a list ready for the agent’s very first visit, in case you forget something. It also helps the agent to accurately appraise the value of the property in the first place.
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