Inheriting an estate home can be a wonderful gift, or, it could be a big burden. Some beneficiaries opt to fix-up the home and make it into their primary residence, others choose to make repairs and rent it out, while still other get it in shape and sell. The first option can be a way to move into a new home, while the second can serve as a source of semi-passive income. Where first-time landlords get into trouble is not accounting for all maintenance costs, leaving vacancy periods out of the equation, paying property taxes without homestead exemption, and, underestimating repairs and improves.How to Stage a Sarasota Estate Home to Sell
Of course, there are beneficiaries who choose to sell their estate home. Fortunately, this isn’t much different from selling a primary residence. Although one big benefit is not having to sell and buy at the same time, while planning and executing a move. Another advantage is the fact that the home’s value can be turned into a liquid asset, which can be invested in higher return avenues, such as diversified mutual funds.Although staging is optional, it really shouldn’t be. When you’re dealing with such a significant financial transaction, you don’t want to be lazy and settle for a lower selling price or a longer marketing period than you have to. —Investopedia.comTo sell an estate home, just like any other residential property, it’s got to be properly staged. The reason is just a few hundred dollars in staging literally returns thousands of dollars on investment. You can choose to hire a professional stager, or, save a bit of money and do it yourself, following these steps:
- Declutter each and every room. The first order of business is to pare down on possessions, which include personal items, furniture, and even decor. Go room by room and declutter each one. Clean out closets, pantries, cabinets, and any other storage space. There should be no personal items left in the home because your goal is nearly a blank slate.
- Make all necessary repairs. Whatever is broken, no matter how insignificant it might seem, fix it. Because it’s an estate home and will likely be marketed as such, potential buyers will carefully look for any defect to gain more negotiation power.
- Deep clean the interior. After every room is decluttered and everything that’s broken is fixed, it’s time to do some serious deep cleaning. Leave no corner untouched, clean and disinfect all surfaces, and be sure to clean all fixtures, including doors, windows, walls, shelving, and countertops. You want the interior to be immaculate and have a pleasant scent.
- Cleanup the exterior. Next, give the exterior some attention by mowing and trimming, if applicable. In addition, this is a good time to clean gutters and power wash the exterior walls, doors, and windows. Spread some mulch around strategically and place flowering plants near the entryway.
- Rearrange the furniture. If the furniture is in good condition, rearrange it for maximum traffic flow. If the furniture isn’t in good condition, either rent furniture, or, have the old furniture hauled away.
