Preparing for a Lucrative Sale
“A well-maintained home is one of the best ways for homeowners to attract buyers,” says David Steckel, home expert at Thumbtack, a leading technology company helping millions of people care for and improve their homes. “Thumbtack research finds a well-maintained home can sell for about 10% more than a similar one in average condition. Buyers are making life’s biggest investment, and they want the peace of mind that they’re investing in a home that was well cared for.”
According to a study commissioned by Zillow conducted by The Harris Poll, 65% of sellers completed at least two home improvement projects before listing their homes in the past. These sellers believe that the improvements they made played a crucial role in enhancing their property's appeal and, in some cases, wished they had invested more to secure an even higher selling price.
Unlocking Home Value
If you're planning major renovations on your Santa Barbara home in 2024, consider the findings of Remodeling Magazine's 2023 Cost vs. Value Report. According to the report, these are the top 10 home improvements with the best return on investment (ROI) nationwide. Remember, these are national statistics, and the ROI could be different here in Santa Barbara.
1. Garage Door Replacement
2. Manufactured Stone Veneer
3. Entry Door Replacement
4. Siding Replacement
5. Siding Replacement
6. Minor Kitchen Remodel
7. Window Replacement (Vinyl)
8. Window Replacement (Wood)
9. Bath Remodel
10. Roof Replacement
Other Home Improvements that Offer High Impact When It Comes Time to Sell
Making your home more appealing to potential buyers can make a huge difference when the time comes to list your Santa Barbara property. A well-maintained home can enter escrow for about 10% more than a similar home in average condition. Here are some refreshments that offer substantial returns:
11. New Interior Paint
A fresh coat of paint, particularly in neutral tones, can give your home a modern and well-maintained appearance. Fix any peeling wallpaper, repaint in neutral tones, and attend to any visible imperfections.
12. Curb Appeal
Enhance the first impression of your home by painting your front door, refreshing the exterior paint, and addressing any minor landscaping issues.
13. Smart Home Technology
Incorporating smart technology in the form of thermostats, smart lights, and hands-free tech is a must to entice today's tech savvy buyers.
14. New Lighting
Upgrade your lighting fixtures, use LED bulbs, and strategically add mirrors to create a brighter and more spacious atmosphere. Also, adding new exterior lighting can really change the look of your home.
15. Bathroom Updates
Simple fixes like updating lighting and recaulking or reglazing the tub can give your bathroom a fresh look. Attend to any minor issues in the bathroom, such as outdated lighting or tub caulking.
Deep clean existing flooring, address damage, or consider installing heated flooring for an extra touch of luxury.
17. Replace Broken Mechanicals
Ensure your HVAC system, appliances, and other mechanicals are in good working order.
18. Clean Your Gutters
Regular maintenance and care of your gutters contribute not only to the longevity of your home but also to the prevention of more extensive issues, such as water damage or the dreaded mold growth.
19. Update Your Front Door
The front door is the gateway to your home, and investing in a new, well-designed door not only enhances the aesthetic appeal but is also a way to make your home more energy efficient.
20. Outdoor Extension
In Santa Barbara, a well-equipped outdoor kitchen is essential. It goes beyond just having a grill; think about incorporating a wok range, pizza oven, mini-fridge, sink, and plenty of counter space. This setup allows you to prepare, cook, and serve a complete meal without the need to go indoors.
Remember, every market is unique, and I recommend you tailor your home improvements to the preferences of potential buyers in the Santa Barbara area. A highly experienced local realtor like me will know what those preferences are and can steer you in the right direction before it comes time to sell. But no matter where you live, focusing on strategic, high-impact improvements can maximize your home's value and make it stand out in this competitive real estate market.
If you're seeking to make strategic home improvements to your property in Montecito, Santa Barbara, Hope Ranch, Summerland, Carpinteria, or any of Santa Barbara's exclusive neighborhoods to increase its allure for potential buyers, delve into the wisdom gleaned from fellow luxury homeowners in the area by exploring my portfolio of fine homes that have been expertly prepared for our market. Don't hesitate to reach out to me at (805) 886-9378 or via email at Cristal@montecito-estate.com as you contemplate listing your home in the near future. Consider me a valuable ally in navigating the intricacies of your real estate journey.
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