Diamond in the Rough (Real Estate Market, That Is)

Fixing up your house to sell in today's troubled housing times

By Laura Meyer
Published: Dec 16, 2007

The bidding wars, the sappy love letters that accompanied the offers: we all remember the salad days of the real estate market. Oh, how times have changed. The latest numbers put out by the National Association of Realtors (“NAR”) underscore the severity of the slump in the housing market—sales fell in 46 states during the third quarter. So, if you’re a seller in today’s market, you’ll have to presume it’s your job to impress upon a potential suitor that your home is worthy of their affections rather than the other way around.

One of the keys to fixing up your home to sell is to remember that, just like going on a blind date, first impressions are key. You know what I’m talking about: A woman rejects some man on the first date because of his ugly haircut and dorky shoes (completely missing the fact that he picked up the check, held the door open for her and made her laugh). It’s the same with a home. With this in mind, here are a few renovation tips that will make your home much more attractive:

Curb appeal is key: The front of your home is the first thing a buyer will see and there’s a lot you can do to improve its appearance. Clear dead plants and vegetation. Add some fresh plantings, flowers and/or plantings in pots (of course, there are seasonal considerations.) Also consider fixing or replacing cracked and worn main walkways and fencing that’s in bad shape. Remove crappy lawn furniture.

Kitchens and Baths: You’ve heard it again and again: kitchens and bathrooms (particularly master bathrooms) can go a long way in selling a home. With a small budget, even modest changes such as replacing outdated hardware (knobs and faucets) with something more updated can make a difference. With a larger budget, consider updating old appliances and updating cabinets by repainting or re-facing them. Changing outdated countertops with something more elegant such as granite, marble or another type of stone adds impact but can also get pricy.

Painting: Painting rooms that look shabby because of old, peeling, dirty paint or worn, dated wallpaper is one of the best improvements you can make (no such thing as Shabby Chic ® here). Choose neutral colors, not anything bold or unusual. You don’t have to repaint the whole house. Focus on the entryway and main rooms.

Refinishing old floors: The condition of your floors is another thing that makes a huge impact on buyers. Replacing or regrouting old tile floors, refinishing worn hardwood floors and replacing stained carpeting can be well worth it. Again, focus on the entryway and main rooms of the house.

Real estate markets vary from location to location and, if there is a silver lining to the bad news, some areas—particularly some metro areas—are still hot, with home prices rising according to the NAR. Before you do any work, it’s a good idea to speak to your real estate agent about what he/she recommends given your budget and his/her knowledge of the unique considerations of your market. And no matter what work you decide to do or not do, clean the place up (consider having professional cleaners and window washers come in), get rid of clutter and pet odors, get buyers in the right mood with good lighting and do some staging with flowers in choice locations.

Laura Meyer is a real estate expert and the author of Remodel This! A Woman’s Guide to Planning and Surviving the Madness of a Home Renovation. Laura is a sought-after expert in the field of home improvement, appearing as a frequent television and radio talk show guest.