SEATTLE and SAN FRANCISCO, Aug. 18,
2020 /PRNewswire/ -- Homeowners across the country have
been inspired to roll up their sleeves and jump into home
improvement projects that could pay off when it comes time to sell.
After all, Zillow research1 finds 81 percent of people
say they're spending more time at home compared to last year.
If you are getting your home ready to hit the market, you will want
to make that time and effort count.
Zillow partnered with Thumbtack to help sellers better estimate
the costs of five manageable projects they should consider before
listing their home for sale.
Zillow research finds nearly half (43%) of all homeowners say
finding DIY time was difficult or very difficult, which may explain
why the same percentage of homeowners say they have unfinished home
improvement projects.
If you can find the time or hire a pro to complete these
projects, it could help boost your bottom line as sale prices climb
and homes are selling at their fastest pace in more than two
years. Zillow data finds those who make at least one
improvement are more likely to sell their home above their list
price than sellers who don't make any improvements -- 23% versus
17%, respectively.2
"There are small things anyone can do to present their home in a
better light," said Sue Cohn Darmon,
a Zillow Premier Agent in Connecticut with William Pitt Sotheby's
International Realty. "First impressions go a long way, especially
since buyers are now spending more time searching online for homes.
Listing photos are going to look better if the home appears well
maintained. If the small things are taken care of, the
assumption is that the bigger things that aren't visible have been
taken care of too."
Zillow has selected five DIY projects recommended by agents that
could help increase your home's value when it comes time to
sell. These home improvements are by no means the only
projects a homeowner should consider before selling; previous
Zillow research has offered advice for sellers considering more
extensive renovations. While many of these projects are correlated
with a sale premium or a faster than expected sale, they are not
guaranteed to increase your home's sale price.
Upgrade your Lights
- Good lighting can change the atmosphere in your home. Replacing
old fixtures with new ones and adding dimmer switches will go a
long way in setting the right mood. However, if you replace your
fixtures with smart lights controlled by an app, you could save on
your energy bill and sell your home faster. Zillow research
finds homes mentioning smart lights in their listing description
sold seven days faster than expected.
Here's an easy guide to change a light fixture, but if you want a
professional installer to do the job, Thumbtack finds the average
cost is $380.
Replace your Faucets
- A shiny new faucet can elevate a bathroom or kitchen's style.
Make it a touchless faucet for added appeal, as COVID-era buyers
increasingly look for smart features that will keep their homes
germ-free.
No previous plumbing skills are required, but attention to detail
is key if you want to avoid a flood. Here are the steps to install
a faucet, but for a pro touch, Thumbtack finds, on average, you can
expect to pay $205 to replace
bathroom fixtures.
Landscape Smartly
- A Zillow survey from the Harris Poll3 finds more
outdoor space is the top reason people say they would consider
moving as a result of social distancing recommendations. That's why
it's more important than ever to spruce up your yard and create the
functional, beautiful outdoor space buyers want.
If you don't have a green thumb or the right tools, expect to pay
$2,600 on average according to
Thumbtack for a professional landscaping business to clean up your
yard, which typically covers mowing, pruning, weeding, planting new
flowers or shrubs, and adding new soil, mulch or bark dust. Homes
mentioning landscaping in their listing description can sell for
2.7 percent more than expected, according to Zillow research, so
it's often an investment well worth making.
Add a Fire Pit
- Once you've landscaped, install a fire pit to create the
ultimate family-friendly backyard oasis. Listings mentioning a fire
pit can sell for 2.8 percent more than similar homes, according to
a Zillow analysis - a higher sale premium than homes mentioning an
outdoor fireplace or a chimenea. Here's how to build your own
backyard fire pit in 7 easy steps.
Paint Your Front Door (and More)
- A glossy coat of exterior paint on the front door can amp up
your curb appeal, but if you're thinking about resale, you'll want
to be strategic about the color you choose. Zillow research finds
homes with black front doors can sell for up to $6,000 more than similar homes.
Take it a step further and paint the entire exterior to send a
signal to a buyer that your home is well-maintained. In a survey of
Zillow Premier Agents4, 77 percent recommended sellers
paint their home. Thumbtack finds the average cost of exterior
painting is $2,535.
"Taking on DIY projects can give homeowners a perceived sense of
control during a time of uncertainty, but they come at the cost of
time and effort. A pro may have the right tools and expertise to do
the job faster and more effectively," said Zillow home trends
expert Amanda Pendleton. "This
research finds the most costly projects are those that start as DIY
and end up being completed by a professional."
"We help homeowners hire local professionals to maintain and add
value to their most important investment," said Thumbtack pro
engagement manager Hannah Siegel.
"On Thumbtack, you can find help for pretty much anything from
painting and landscaping to new flooring and bathroom
remodels."
About Zillow
Zillow, the top real estate website in
the U.S., is building an on-demand real estate experience. Whether
selling, buying, renting or financing, customers can turn to
Zillow's businesses to find and get into their next home with
speed, certainty and ease.
In addition to for-sale and rental listings, Zillow Offers buys
and sells homes directly in dozens of markets across the country,
allowing sellers control over their timeline. Zillow Home Loans,
our affiliate lender, provides our customers with an easy option to
get pre-approved and secure financing for their next home
purchase.
Millions of people visit Zillow Group sites every month to start
their home search, and now they can rely on Zillow to help them
finish it — with the same confidence, ease and empowerment they've
come to expect from real estate's most trusted brand.
Zillow is owned and operated by Zillow Group, Inc. (NASDAQ:Z and
ZG).
About Thumbtack
Thumbtack (www.thumbtack.com) is a
local services marketplace helping customers find and hire skilled
professionals. Our app intelligently matches customers to
electricians, landscapers, photographers and more with the right
expertise, availability, and pricing. Since 2008, Thumbtack has
helped millions of Americans get more done and hundreds of
thousands of service providers build sustainable businesses.
Headquartered in San Francisco,
Thumbtack has raised more than $400
million from Baillie Gifford, Capital G, Javelin Venture
Partners, Sequoia Capital, and Tiger Global Management among
others.
1 Zillow Group Population Science Survey on Time
Spent at Home Conducted 7/16/2020 -
7/21/2020
2 2019 Zillow Group Consumer Housing Trends
Report
3 This survey was conducted online within the United States by The Harris Poll on behalf
of Zillow from May 4-6, 2020
among 2,065 U.S. adults ages 18 and older. This online survey is
not based on a probability sample and therefore no estimate of
theoretical sampling error can be calculated. For complete survey
methodology, including weighting variables and subgroup sample
sizes, please contact press@zillow.com.
4 Zillow Group partnered with independent market
research and data analytics firm YouGov® to conduct a nationally
representative, online quantitative survey that gathered
information from 1000 sellers that sold a home in the past 6 months
and 500 residential real estate agents. For more information visit
zillow.com/report
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SOURCE Zillow