Should I paint and clean up my Fort Mill house or just lower the price for what it will cost to make the improvements? I get asked that question a lot. I mean all the time. And if people are not asking they are telling me they will not lift a finger to improve their Fort Mill home. They don’t say it like that but it’s what they mean. If I was living in a sitcom this would be the point I get up and bang my head into the wall. Appearance sells folks. It does not matter if it is a six figure investment or a piece of chewing gum. People will choose the best looking option most often.
Most buyers today want to walk into a home that is ready to move into. They are home buyers, not handymen. They have jobs, they have families, and the last thing that most people want to do is move into a Fort Mill home that they will be doing updates on every weekend for the next few months.
Statistics say that when a buyer looks at a “problem” area, they will estimate that it will cost three times more than it actually will cost. For instance, if they see carpet that is old and worn and they know it needs replacing, they will estimate that it will cost them $1,500 to complete these repairs, even though in reality it would only cost about $500.
A 2011 Smart Money article, “The Psychology of Real Estate” outlined several interesting suggestions such as color bias, photo bias, and other neuro-centric perceptions related to real estate. Some of the highlights about potential real estate buyer’s perceptions according to ODU’s ongoing research and the Smart Money article suggest the following:
” The people who viewed the pictures that included the pink room estimated the home was worth an average of $3,500 less than the price opinion of those who saw the pictures without the pink room, far more than the cost of painting the room before putting the house up for sale.” I didn’t add a picture of the pink room, just take my word for it.
“What’s more, superficial things like a room painted an ugly color can make people less likely to buy a house—even though fixing such a problem is as cheap as a couple cans of paint.” I can’t stress this one enough even though I know it might be hard to believe. The number of times I have had buyers rule out a house because of color inside or out is eye opening. I have buyers who when they are keeping track of the Fort Mill homes they see will refer to a place as “the one with the hideous wall paper.” Even if you love the color, if it is loud or different, change it. Go neutral.
In today’s economy, it is understandable that you don’t want to spend the time or money to fix up a home that you are about to sell, but remember the consequences. Appearance sells people. Find the time or money.
Lesson over. If you have any questions about what other things you should do to make your Fort Mill home more attractive give your local Fort Mill Realtor a call.