It's a seller's market — maximize your home's appeal for buyers

Selling or buying a home can be a daunting and stressful process, while also exciting.

When selling a home, there are simple and effective steps you can take to not only increase the value of your home, but also to snag a buyer's attention.

Some of the first things a buyer will look for when seeking to purchase a new home include storage space, updates and room size, according to Sue Finley, associate broker with Coldwell Banker Fairbairn Realty in Alanson.

“Updating kitchens and baths are always a thing we look at to make the home more appealing,” Finley said. “(As for) floor coverings, if the carpet is dated or the orange shag doesn’t go anymore ... there’s some things we recommend as sellers' agents.”

Sellers also should be mindful of cleanliness and wary of clutter, recommends Finley.

“One of the things we always recommend is cleaning out and trimming down closets and even cupboards, so when people come through, they can see the storage space,” Finley said.

While space and layout are big selling points to a buyer, simple things like paint color can make a big difference.

“A fresh coat of paint looks good. If your colors are not neutral, you risk turning off potential buyers,” Finley said. “We usually recommend fresh paint or at least clean walls, and we steer towards natural, neutral colors.”

However, while some updates can drastically increase your chances of selling, be aware of how much investment they require.

One of the main things that agents discuss is the return on the investment, according to Finley.

“What is the return of the investment, and what is the cost? Sometimes, it’s a better idea to just lower the price you’re asking and have the buyer see what they’re getting rather than make improvements that may or may not get the investment,” Finley said.

Certain efforts such as landscape overhauls can draw in a buyer, but be costly to the seller in the long run. Replacing features such as windows may improve on appearances, but the products chosen may not appeal to a given buyer's taste.

“We don’t see windows being worth the investment, so in those situations, we would suggest lowering the price in opposed to replacing the windows,” Finley said. “Again, it’s personal preference — some (buyers) love vinyl, some love wood.”

In the seller's disclosure, they can always discuss possible updates such as replacement of flooring or windows during the escrow period.

Currently, it’s a seller's market for residential real estate in Northern Michigan, with homes moving quickly off the market shortly after listing.

“Things are really moving quickly and not staying on the market very long, and sellers are getting the price they’re asking or more,” Finley said. “We’ve had some bidding wars going on, so we’re really looking forward to a pretty active spring.”

While there are plenty of projects that sellers can undertake on their home to entice buyers, Finley notes that it’s always helpful to get some professional help.

“I can’t stress the importance of using an agent, we are trained to help people through these big decisions. We can help save some heartache, sometimes people fall in love with the wrong house and not every house is meant for every family,” Finley said.