"Don’t Forget about Curb Appeal When it’s Time to Sell!"
Many investors ignore the concept of curb appeal when selling, and that's a huge mistake. Yes, it is true that this is more important in the "non-investment" real estate market because the emotional undercurrent is greater. But even though it's less critical, the concept is still useful in terms of selling
multi family homes
and should not be ignored.
WHAT IS CURB APPEAL?
So what does this mean? It means to get top dollar, you must make sure the property is physically presented in the best possible light.
Hopefully you will have maintained the property so that there are no major issues when you're ready to sell. But aside from that, there are other things you should do immediately before putting the property on the market that will enhance it's perceived value even more.
This also extends beyond the physical condition of the property itself. You will want to maintain meticulous records, as the buyer will want to see all the
and other pertinent documents, and the appearance of being organized will help convince the buyer that you are on top of things and have maintained the property in a quality way.
EASY WAYS TO ENHANCE PERCEIVED VALUE
Really, it is easy and inexpensive to improve the appearance of the property, so it would be foolish to not spend a day or two to do this. Also, any minor but obvious repairs should be made prior to listing the property, as the buyer's
will reveal them anyway.
Below is a list of things you can do to quickly improve the "desirableness" of your property. When in doubt, think about the things that you looked for when
including things you really liked or major turnoffs.
- Landscaping should look presentable
- Trim all trees & shrubs
- Rake leaves, mow & edge
- Install decorative front door (or repaint)
- Power wash everything
- Make sure there are no obvious defects or needed repairs
- Thoroughly clean everything, especially sinks, toilets, bathtubs, floors and appliances.
- Consider refreshing the paint
- Consider installing new carpet & pad, if necessary
- Put on new toilet seats
- Install ceiling fans & mini-blinds
- Install working smoke / fire alarms & carbon monoxide detector
- Sweep / de-clutter / clean the basement (investors LOVE basements!)
As you can see, enhancing your rental property's curb appeal is not difficult or expensive. Therefore, it makes sense to spend a little time on this as you prep to sell in order to maximize the odds you'll get top-dollar.
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