April Ramirez The Mortgage Expert,
Publish On: February 3, 2023
In this article, we will cover the importance of curb appeal when selling your home. We will also discuss how the importance of curb appeal when selling your home during the coronavirus pandemic economic downturn market. The coronavirus pandemic economic crisis has plummeted the U.S. economy. Never in the history of the United States has the U.S. economy tanked as it did when the coronavirus pandemic hit. The economy and housing market were booming prior to the pandemic
Stocks were at historic highs, unemployment numbers were at historic lows, home sales were booming, mortgage rates were at record lows, and signs of any recession and/or inflation was non-existent. Then the pandemic hit the U.S. and the economy plummeted. Millions of U.S. businesses were closed. Millions of Americans became unemployed literally overnight.
Unemployment claims for the past month hit 22 million Americans. Unemployment rates are expected to top 30%. Most U.S. businesses are temporarily closed, leaving millions out of work.
The Housing Market For Home Sellers
The housing and mortgage market is in chaos. Home prices are expected to drop. The economy needs to reopen. During times of the pandemic crisis, homeowners who are selling their homes need to realize the importance of curb appeal when selling their homes.
Just a little less than one year ago, home sellers had half a dozen offers the minute their homes were listed. Average home seller got 10% or higher over list price. However, the housing market has dried up. It is still a sellers market but not close to the housing buying frenzy of last year.
Curb appeal can be done for very little money. However, the end result can mean getting top dollar when selling your home. In this article, we will cover and discuss the importance of curb appeal when selling your home.
Importance of Curb Appeal and Ways To Add Curb Appeal
Importance of Curb Appeal: Painting Is The Best Investment Sellers Can Make
A fresh coat of paint does wonders. Painting the exterior and interior of the home makes the home look new. A fresh coat of paint on the exterior will definitely go noticeable.
It may cost more money than a pressure washing, but homebuyers are attracted to a home that has been freshly painted. Painting is a great investment for home sellers. The investment on a fresh coat of paint will outweigh the return on investment via a higher sales price.
More importantly, homes that have been freshly painted will sell quicker. Discuss painting with your real estate agent. Choose a color that is neutral that blends in with the neighborhood.
Landscaping and Cleaning
Homes that have a beautiful landscape have higher values. Besides a higher home value, homes that are neatly landscaped sell quicker with less time on the market. Always keep the lawn mowed and trimmed. During hot dry summer months, make sure to water the lawn
Many landscape companies offer deals if you have an annual contract with them. Let them know that you are selling the home so they keep special attention to your home. Trim the hedges and make sure there is always fresh mulch. Weeds are deal killers. Make sure to pluck and/or kill all weeds around your property
Make sure there is no clutter around the property such as bicycles, toys, and parked vehicles that are inoperable. Cracks in the pavement are eyesores and need to be fixed. The addition of plants, shrubs, flowers, and trees are great investments. It is highly recommended to hire a reputable professional landscape service.
Make All Minor Repairs That Is Needed
To get top dollar for your home, all repairs will be needed. Most homebuyers will have a home inspection. During the home inspection, broken items will come up. Many homebuyers will not proceed with a home purchase if the home inspector comes up with a laundry list of defective and/or items that need repairs. It is best to get any repairs that are required done prior to listing your home. Pay special attention and emphasis on exterior repair items that are needed. Examples of repairs that are common in most homes are the following:
- Missing/broken shingles
- Holes in your home’s siding or missing and/or cracked siding
- Rotted deck boards
- Hanging gutters and/or downspouts
- Damaged and/or inoperable windows
- Inoperable garage doors
- Broken glass
- Broken doors
- Missing and/or broken screens
The more a homebuyer notices broken and/or inoperable items when inspecting your home, the less of a chance you are going to have a purchase offer.
Importance of Curb Appeal For Homebuyers
Dora Ali of Gustan Cho Associates said that curb appeal is the first impression of the house when she first shows a home. If the exterior and the property is clean and presentable, the buyer is more open-minded and interested in inspecting the home for more positive features. Dino Hasapis is a multi-million dollar realtor in the Western suburbs of Chicago and an associate contributing editor at Gustan Cho Associates. Dino said the following:
If the home does not present well and there is clutter all over the property, the buyer will automatically not want to see it and will think the home is a dump. First impressions are the most important thing for homebuyers.
Curb Appeal and window dressing is super important when selling a home in a down real estate and/or economic market. Talk to your real estate agent and they will go over the best, easiest, fastest, and cheapest way to window dress your home to get the best curb appeal for the money.
