Real estate agents often suggest “staging” a home to make it more appealing to buyers. Staging involves setting up furniture and decor that make the home’s appearance more exquisite than it typically was as your living space. Today we’re going to look at nine key reasons why curb appeal can make you money when selling your home. Let’s begin!
Curb appeal can account for up to 7% of the value when a home is sold, according to a study conducted by The University of Texas at Arlington. That’s massive! Buyers may submit a higher offer if the exterior looks pleasing, perhaps equating a well-taken-care-of exterior with a well-maintained interior.
9 Reasons Why Curb Appeal Can Make You Money
It’s also essential for your home to have curb appeal — to look inviting to visitors as they drive by or park before coming in for a showing. The exterior of the house is the first thing potential buyers see, and a bad impression can turn them off, even if the inside is pristine and precisely what they want. Here’s a closer look at each of the reasons why curb appeal can make you money.
1. The Exterior Often Reflects the Interior
When would-be buyers visit a home, the first thing they see is the exterior. Many will make an instant judgment about its attractiveness. Their thought process may be that if the exterior looks bad, the interior can’t be much better — a shabby exterior could mean the interior also looks shabby. Their mindset may be negative before they even enter the home. Some may decline to even bother looking at the interior.
2. Better Listing Photos
Many people search online through real estate listings to find homes for sale, so they can view many more homes in less time. Listing photos often show the exterior first. If the exterior looks unkempt, with worn and peeling paint or messy landscaping, they may move on to the next listing without even clicking to explore further.
3. Indicative of Proper Home Maintenance
If your home’s exterior doesn’t look good, potential buyers may assume that you didn’t take care of the home. Poor maintenance translates into needing repairs prior to moving in, as well as possible additional maintenance and repair issues in the coming months. Buyers who are looking for a turnkey home or one that requires little maintenance may pass over a home with poor curb appeal.
4. Emotional Attachment
“Love at first sight” is a real thing when it comes to houses. If someone loves the exterior, they’ll be more receptive to the interior, even if the interior isn’t exactly what the buyer was looking for. For example, they may be more likely to overlook negatives such as a small hall bathroom or smaller secondary bedrooms because of the beautiful exterior.
5. Faster Sales
Here’s a reason why great curb appeal can make you money that you might not have thought about—a faster sale. Homes with excellent curb appeal draw a wider pool of potential buyers so it’s more likely to sell quicker. If potential buyers realize that several others are showing an interest in the property, they may make a higher offer sooner to beat another potential buyer to the punch.
6. Bidding Wars
A home that looks “shiny and new” can encourage bidding wars that may even lead to a buyer bidding more than the asking price, especially if they have the cash to pay any amount beyond the appraised value (so that a lender doesn’t balk at the difference).
7. Standing Out in a Crowded Market
In a buyers’ market, with lots of homes for sale, you need to make your home stand out. Curb appeal can do the trick. A house with curb appeal that is in the same price range as other home of similar size will potentially sell much quicker.
8. Pride of Ownership and Enhanced Neighborhood Aesthetics
When your home reflects that you took pride in ownership, buyers notice. It also increases neighborhood aesthetics, which could increase the value of all homes in the neighborhood, making it a coveted place to live.
9. Reduces Negative Judgments
A home without curb appeal might set off alarms within a buyer, making them more suspicious of what they might find inside. These potential buyers might look more closely for more potential negatives, such as poor maintenance inside, older appliances and smaller rooms — flaws that might be minimized if the lack of curb appeal hadn’t put them on high alert.
Boosting curb appeal doesn’t have to add a lot of work and expense to your already busy moving and selling schedule. Simple things can entice a prospective buyer to look further — such as mowing the lawn before a showing, planting flowers or having a residential fencing company repair your fencing. It all adds up when you’re trying to entice buyers.
We hope you have enjoyed out quick hitter on why curb appeal can make you money when selling your home. If you have a friend or family member selling their home, better yet, before they start to sell it, please share this article with them!
