How to Increase Your Phoenix Property Value… Inexpensively
Hopefully, you were made aware of the three most important factors in buying Phoenix real estate today are Location, Location, Location. It is unlikely the appreciation on your home will match area appreciation when the home is located in an undesirable area.
External factors around your home (or investment property) will have a greater impact on the future value of your home than anything you do on the inside. As long as you bought in a good location, and nothing has changed since everything else can be fixed and/or enhanced.
Criteria for "What is a Good Location" include:
- Avoid neighborhoods with excessive noise from cars, trains, planes, manufacturing, and events.
- Avoid neighborhoods with unattractive improvements nearby like a factory, warehouse, storage facility, race track or buffer properties like apartments used to transition from commercial to residential property.
- Find a home within an excellent school district with the local schools assigned a rating of A or B as defined by Arizona Dept of Education.
- Choose a home well located within the community offering a short commute to major work centers, easy access to main commuter routes and airport, proximity to shopping, eateries, and entertainment.
- Select a safe community (check crime stats) with well-maintained houses and yards that reflects the pride of ownership and an active HOA enforcing their CC&R's rules.
Assuming you bought wisely and there have been no subsequent external events that would adversely affect your home's value, such as a new freeway built behind you or a new water treatment plant built down the street, etc., the least expensive ways to enhance the market appeal of your property are listed below:
De-Clutter – Remove distractions that keep the buyer from really seeing all the features of your home. Take the family photos off the wall, take down posters, remove collectibles and just have a simple, tasteful painting. If you don’t have a tasteful painting, bare walls are preferred… after all holes are patched.
Rearrange – Arrange your rooms so they look spacious and uncluttered. If you have too much furniture or oversized furniture that makes the room look crowded, rent storage space and store excess furniture there and arrange the remaining furniture so your rooms look open, elegant and inviting – not overcrowded and cluttered. Afghan blankets and doggie beds have to be removed during showings.
Empty closets – every buyer is concerned about a home having enough closet space. That's often one of the prime reasons for looking for a larger home. Buy wardrobe boxes, pack up last season’s clothes, so your closets are half full. Box and store last season's shoes, too. Storing what you don’t absolutely need at a storage facility with your excess furniture is just getting an early start on your move.
Empty kitchen cabinets – You want it to appear you have more than enough kitchen cabinet space, too. Everyone wants to have plenty of storage space in the kitchen. Buyers will reject a home that looks like there is not enough storage room in the kitchen and pantry.
You want to create the illusion that you have lived in your house for years and have always had plenty of storage space for everything.
Work on Curb Appeal – The yard needs to be attractive and well maintained. Buyers don’t want to buy an unmanageable yard that requires working in the yard all weekend, every weekend to keep the yard under control. If they get that impression, they will buy another house with a yard that looks easy to maintain. But you want to color in the backyard. Plant some flowering plants in the flower beds. Having potted plants near the patio automatically watered on drip emitters is a plus.
Fix Everything Before You List – You will save money and impress prospective buyers. Repair everything you know needs to be fixed. This would be a good time to get a professional home inspection to tell you what you need to do. If you don’t want to spend money for an inspection, pretend you are the buyer’s inspector and check everything. Lubricate the garage door and all doors and cabinet hinges that squeak. Locate and repair anything broken, leaking or noisy to operate. You are going to have to do it eventually. Better to impress the buyers with how well you have maintained your home. It will be appreciated and add to your home’s appeal.
If you don't do it yourself before you get an offer, you will later when the home buyer’s inspector reports all the problems you knew needed to be repaired. Then a buyer’s agent may ask for licensed contractors to do the same work which costs you a lot more to have done than a handyman you hire to do the same work before an offer is accepted and your home is inspected. Or worse, the inspection is done and your buyers decide there are too many problems discovered and there may be other undiscovered problems and that may appear later… like when it rains. You want the buyer to think you fixed all problems as soon as you were aware, so the problem didn't worsen.
For assistance in finding a gem of a home, Contact Sam. With 27+ years of experience, he knows where to sell and find the home for sale of your dreams in Chandler, Gilbert, Mesa, Phoenix, Scottsdale, Tempe AZ.
Arizona Associate Broker, CRS, GRI, e-PRO, SFR
Berkshire Hathaway HomeServices | Arizona Properties