8 Ways to Boost Your Central New Jersey Home’s ROI

The rumors are true; the real estate buying frenzy in the Garden State is over. A recent headline in The New York Times announced, “A Frenetic Housing Market in the (NYC) Suburbs, and Then a Cooling Off.” The article quotes a market analyst who states, “The panic buying has subsided, and the crazy bidding wars are less common.” Although the market in Montclair Township remains “somewhat competitive,“ according to one report, homes remained listed an average of 35 days in January, more than a week longer than last January. Plus, during the same time frame, the median selling price of $699,000 is nearly a percent lower.

However, there is no need to panic. That median price just mentioned is more than twice the national average. The market is ”still very healthy,” to again quote the NYT, and inventory remains collapsed, meaning relatively few homes and condos are available. This is all good news if you’re selling Montclair real estate.

Obviously, savvy sellers do all they can to boost their home’s hot factor. As one of the wealthiest communities in one of the nation’s wealthiest states, Montclair (pop. 41,000 and growing) attracts well-heeled buyers with an eye for quality – if not outright luxury. To turn those heads, earn top dollar, and maximize ROI when selling Montclair homes, follow these principles below.

The real estate doldrums of February are about to give way to the brighter spring days of March. The year 2022 may not be as white-hot for Montclair real estate as last year, but we’re still feeling the heat of one of the best seller’s markets ever, and that’s expected to continue.

It’s important to note that you don’t need to conduct any major overhauls to increase your ROI; you can just make sensible improvements that often cost relatively little. Consider replacing cabinet hardware in the kitchen and bathrooms, installing new faucets, or adding new countertops. New or additional light fixtures improve a prospective buyer’s view, literally.

A fresh coat of paint can also brighten the interior and is relatively inexpensive. Choose neutral colors, leaving buyers free to imagine their own creations. Small, cheaper projects like these not only pay for themselves, but they add value to the home, often much more so than larger and more expensive undertakings.

Take a good look at your house as though you were an interested buyer pulling up in front of it for the first time. Does your home have curb appeal? Curb appeal refers to that important space between the buyer’s car door and the front entrance. That short distance accounts for around seven percent of the selling price.

In Montclair, tens of thousands of dollars can be added to the selling price simply by pressure washing the driveway, repairing the sidewalk, fixing gutters, adding flower boxes, trimming hedges, manicuring the lawn, and replacing the garage door. According to one article on home improvement ROI, “Few rehabbing dollars go farther than those spent on the outside of the house. If for nothing else, curb appeal helps sell homes.”

Prospective buyers don’t want to see your home; they want to see your home. That means literally removing everything that makes your home yours, which is a lot more difficult than you might think, especially if your family has lived there a long time. The magnets and drawings on the refrigerator door, the gallery of family photos in the hallway, that book on the nightstand, your cool leather jacket hanging in the foyer, and even the figurine collection all must go in storage for safekeeping.

Remember, prospective buyers want to picture themselves living there, not you. Keep your pets out of sight, declutter the closets, and pay special attention to the counters and shelves in the kitchen and bathrooms, where a few items strategically placed can create an esthetically pleasing and pleasant aura that will appeal to the kind of buyer you can expect when selling Montclair homes. If the house has a garage, be prepared to remove most of the contents until you can place it in your new home.

Once most of your belongings are in storage, you may want to consider hiring a professional home staging company. Let the professionals temporarily furnish and decorate the home, like a show unit in an apartment complex. Your home will sell faster and for more money, increasing your ultimate ROI.

Deep cleaning your home before the listing is such a simple solution to increase your ROI that is so often overlooked. This can seem like a long process, so let’s break it down. Start with the entryway or foyer, as that’s the first place your buyers come to after they walk from the curb.

After that, pay special attention to the two rooms that matter most: the bathroom and kitchen. Deep cleaning means getting those nooks and crannies that most people miss or leave alone, whether on the toilet bowl, around the oven door, or inside the refrigerator.

Once those few areas are complete, you’ll want to detail the entire house: shampoo the carpets, shine the floors, wipe down the walls, and clean the windows – inside and out. Then, leave the freshly-cleaned or new curtains open and the lights on so that everyone can see your cheery, bright, and beautiful home.

Anyone serious about selling has to be ready and willing to accommodate potential customers. This means making your home available for private showings. That could be in the evenings or on the weekends, so you’ll want to be ready almost always. Buyers looking for homes for sale in Montclair are savvy, smart, and upscale, and they want to see homes that reflect that. Your agent will be able to facilitate all the showings, leaving you free to go out for the day or the weekend.

When selling luxury Montclair real estate, one of the most prestigious communities in the country, it’s critical to work with a trusted, experienced professional. Real estate agents are there for you through the entire process, and they recommend other experts to help you with all of the above tips. 

If you’re ready to start the process of preparing your home for the market, reach out to one of the trusted Montclair real estate professionals at The McGurl Team for guidance. The McGurl Team would be happy to help you sell your home, as well as help you find your new dream home.