In today’s competitive real estate market, home sellers are making more profit due to the newer concepts in interior design psychology. It is therefore well worth your time to plan the changes that you will make so that you can sell your home for the highest possible price.
You need to develop a general design plan which keeps your target market and budget in mind. Supply and demand will be the biggest factor in your overall design plan. What number of houses in your area are currently up for sale? How many of those houses up for sale sell each week? Is the weather of the selling season cold, warm, or hot? Is the market favoring buyers or sellers? You can do less if the market is moving fast and buyers are lining up to put offers in on houses in your area. Whatever your answers are, however, you still need to do a few things to make sure your home stands out from competitors.
Make sure that you know your target buyers. Make sure to keep in mind your neighborhood and the buyers who are buying homes near yours. Are these people buying their first home, or are they upgrading. This factor will make quite a difference in your marketing and design plan, since the psychological needs of these buyers are rather different. First time homebuyers usually focus on controlling their own environment by owning, rather than renting. Their psychological needs often include such things as safety and security, a sense of connection, comfort, and self-control. Buyers who are upgrading also enjoy these benefits, but they are usually more interested in finding a larger home with more amenities for their comfort, self-esteem, and feelings of prestige.
When you take into consideration what things to include in your budget, make sure you only purchase things that will make a difference in your sales price. The best investment you can make as far as repairs go is fresh paint. Also, new kitchen appliances, upgraded bathroom features, and new lighting fixtures will give you a good return for your money spent. In some cases, hiring professional help is worth the extra cost. Professional painters work very quickly and usually cost less than day laborers. Hiring tile installers, carpet layers, and electricians will be a better choice than day laborers, also, because they are so good at what they do.
Deciding on the right colors to paint your home will make a great difference in your paycheck at closing time. Take a look at the surrounding homes and choose complementary colors. Make sure you keep in mind that colors look darker on large exterior expanses than they do on the little paint chips at the store. Good luck on your design and on selling your home!