SEATTLE, April 10, 2014 /PRNewswire/ -- Today's home
sellers should focus on curb appeal and home staging above
larger-scale home renovations, according to a new survey[i] from
Zillow Digs®. Zillow asked real estate agents and interior
designers nationwide to identify the most valuable home
improvements for sellers, and the experts agree that minor
improvements like landscaping and painting walls in neutral colors
save money and attract buyers faster.
Agents agree that sellers should avoid costly projects prior to
listing their home, as the increased sale price may not outweigh
the time and money spent on the remodel. Instead, agents and
designers recommend spending money on minor renovations that will
bring the home up to current market standards while also appealing
to the broadest number of potential buyers.
"Buyers have more homes to choose from this year, compared to
last year," said Amy Bohutinsky,
Zillow chief marketing officer and guest judge on NBC's new reality
show American Dream Builders. "And in a crowded market,
sellers should prioritize spending time and money on upgrades that
have mass appeal. Home buyers don't want to feel as if they are
paying top-dollar for someone else's decorating style. An inviting
exterior and landscape, fresh paint in neutral colors, and
clutter-free spaces will always appeal to a broad range of
tastes."
Zillow Digs Survey Reveals Top 5 Projects for Home
Sellers
Curb Appeal: Creating a strong first impression is
imperative as buyers begin making assumptions about a home well
before they step inside. "A clean entrance can go a long way toward
establishing a positive first impression," said Zillow Agent
Advisory Board member, Cyndi
Lesinski of Valencia,
Calif. Lesinski recommends adding "fresh potted flowers to
increase the life and energy of the entrance." Another tip is to
simply add a fresh coat of paint to the front door. Black, dark
charcoal and tasteful reds such as burgundy or cranberry are
currently the most popular front door colors on Zillow Digs. These
colors bring tasteful exuberance to the home without being too
overbearing for potential buyers.
Staging: A home stager can skillfully identify ways to
highlight your home's best features and compensate for its
shortcomings. The goal is to make "your home appeal to the broadest
audience and number of buyers possible," says Zillow Digs Board of
Designers member Mara Miller of
Carrier and Company in New York
City. When staging, remove all personal belongings and avoid
colors or furniture that are too style-specific – neutral colors
and minimal furniture are best. "Attempting to decorate may not be
the best use of your time and dollars," says Miller.
Invest in Small Home Improvements: Both agents and
designers agree that sellers should never invest in a major
renovation before selling. No matter how out-of-date a home is,
"major renovations prior to sale usually will not equal a
dollar-for-dollar return, and the time invested outweighs selling
it faster," says Zillow Agent Advisory Board member Chris Speicher, of The Speicher Group and RE/MAX
in Washington, D.C. Instead,
sellers should spend time and money on smaller updates that will
bring the home up to market value. These kinds of projects include
updating lighting fixtures, cabinet or door handles, and minor
kitchen and bathroom updates.
Declutter: This sounds simple, but according to Zillow
experts, it's the one of the most important things a homeowner
should do before selling. A clean house feels more spacious and
helps buyers easily envision themselves in the home. "Nothing
trumps the aesthetic of a clean and cared-for home," says Zillow
Digs Board of Designers member Kerrie
Kelly of Kerrie Kelly Design Lab in Sacramento, Calif. "Old appliances and
furniture can be overlooked if a space is clean, simple and
well-edited."
Granite Countertops and Stainless Steel Appliances: Most
buyers are still requesting "granite countertops and stainless
steel appliances," says Zillow Agent Advisory Board member
Bic DeCaro of Westgate Realty Group
in Falls Church, Va. Keep in mind
that most "high-end finishes don't equal high-end returns," says
DeCaro. However, incorporating granite and new appliances can help
catch a buyer's eye.
Launched in 2013, Zillow Digs is Zillow's home improvement
marketplace where home shoppers and homeowners can find visual
inspiration and understand the real cost of remodeling projects.
Users can browse over 640,000 photos and see Zillow's proprietary
Digs Estimates for the estimated cost, based on where they live, of
the actual bathrooms and kitchens they are viewing. They can
create, save and share Boards of ideas they love, comment on photos
and follow people with similar interests.
About Zillow, Inc.
Zillow, Inc. (NASDAQ:Z) operates the leading real estate and
home-related information marketplaces on mobile and the Web, with a
complementary portfolio of brands and products that help people
find vital information about homes, and connect with the best local
professionals. Zillow's brands serve the full lifecycle of owning
and living in a home: buying, selling, renting, financing,
remodeling and more. In addition, Zillow offers a suite of tools
and services to help local real estate, mortgage, rental and home
improvement professionals manage and market their businesses.
Welcoming 77 million unique users in March
2014, the Zillow, Inc. portfolio includes Zillow.com®,
Zillow Mobile, Zillow Mortgage Marketplace, Zillow Rentals, Zillow
Digs®, Postlets®, Diverse Solutions®, Agentfolio®, Mortech®,
HotPads™ and StreetEasy®. The company is headquartered in
Seattle.
Zillow.com, Zillow, Postlets, Mortech, Diverse Solutions,
StreetEasy, Agentfolio and Digs are registered trademarks of
Zillow, Inc. HotPads is a trademark of Zillow, Inc.
[i] Zillow surveyed members of the Zillow Digs Board of
Designers and Zillow Agent Advisory Board via Survey
Monkey.
SOURCE Zillow, Inc.