Homeowners spend an average $21,000 preparing to list their home for sale, according to Zillow. About 25 percent of home sellers willing and able to afford to fix up their home before listing were able to sell above the list price.
About 15 percent of home sellers who did not improve their home before listing sold above the list price, CBS News reports. Lucas Puente, Thumbtack economist, said in a statement, "Sellers should remember that by taking care of these projects, they can get a really strong return on their investment and may be more likely to sell their home for the highest possible price."
Home sellers should start researching costs a year in advance to properly allocate the budget and time to get their homes ready, especially as the housing market gets more competitive for sellers. Buyers can be more choosy as more inventory comes onto the market. "Selling a home was hard when it was a seller's market, and it's hard now," said Skylar Olsen, director of economic research at Zillow.
PB Topical Ref
