4 Tips to Maximize Your Investment Property Value Before Selling
Wanting to maximize investment property value before you sell it doesn’t have to be overly difficult, but it takes some planning and attention to detail. Here are 4 simple tips that can help you sell your residential investment property quickly and profitably.
Maximize Investment Property Tip #1: Clean up, Clean up, Clean up
Clean up can be a very easy way to boost your investment property’s value. You should start your clean up process by doing the simple things first. Remove clutter, throw away things you don’t need, and remove debris from common areas. You will also want to sweep and mop rooms with hardwood or tiled floors, and vacuums all rooms with carpet. If you have a room with old, filthy carpet, you should consider throwing worn carpets out.
If you home has any foul smells and odors, you’ll want to investigate and remove the source of the foul smell. In this case, air fresheners, lysol spray, carpet deodorizers, and plug-in air freshers are all your friend! When all else fails, you should also pop open some windows and let the fresh air from outside give you some assistance. You may actually want to leave those windows open, and the blinds up while showing your property – bright , natural light helps!
Finally, consider investing in a few gallows of light colored, neutral paint like a white, off-white or egg shell. A fresh coat of paint can do wonders.
Maximize Investment Tip #2: Share property info (due diligence) with buyers.
Investors who buy rental properties will typically reduce the account they are willing to pay if there are risks or factors they can’t fully understand. When it’s time to sell your rental property, you can generate a quicker sale by making your property information available to potential buyers. There’s no reason not to share the property tax bill, the utility bills not paid by the tenants, a property management agreement (if the property isn’t self-managed), the tenant leases, property insurance bill, and even tenant deposits and rent receipts. If your rental property is performing well, you need to make sure all potential buyers can see the results and make that same determination.
Maximize Investment Tip #3: Curb Appeal – Don’t forget the outside!
The right landscaping can enhance the curb appeal of a home. Eliminate weeds, patch bare spots, fertilize and water. Take a good look at the shrubbery. Bushes that have grown to cover windows should be pruned to let sun and light into the home. Fill in bare spots with small shrubs and colorful, fast growing annuals, such as impatiens and petunias. A few well-placed flower pots by the front door can be very inviting. Today’s buyers want low maintenance. Your goal is to present beautifully maintained yard that looks easy to care for. Please also remember that if the outside looks unpresentable, buyers will assume there are issues on the inside too.
Maximize Investment Tip #4) Allow property access and showings
Buyers don’t want to offend current owners so they may be more hesitant to consider your home if you are present for open-house events. Be flexible about showings, and consider utilizing lock-boxes. It’s often disruptive to have a house ready to show on the spur of the moment, but property access helps. The more that buyers can see your investment property, the sooner you’ll find a seller.