The Cost of Prepping a Home for Sale

Home sellers prepping for the spring home shopping season need to begin sprucing up their homes if they are looking to attract a shrinking pool of buyers.

New research commissioned by Zillow and conducted by The Harris Poll finds a majority of recent sellers (65%) take on at least two home improvement projects to prepare their home for sale, while Thumbtack data finds these sellers are investing nearly $5,400 on average when hiring a professional to complete the most common projects.

The survey finds that sellers who sold their home within the past two years most commonly completed interior painting (40% did this), carpet cleaning (35%), and landscaping (33%) before listing their home for sale.

Data from Thumbtack shows the average cost of those projects adds up to $5,388, but can average as much as $8,249 in metro areas like Seattle-Tacoma, Washington; and as little as $4,102 in metro areas like Miami–Fort Lauderdale, Florida.

In addition to location, costs for these home improvements can vary based on the size and scope of the project. For instance, smaller landscaping projects, such as flower planting, lawn upkeep and shrub trimming, can cost several hundred dollars, while larger projects involving tree planting and sprinkler installation can cost thousands.

"These projects can instantly boost a home's online curb appeal," said Amanda Pendleton, Zillow's Home Trends Expert. "An inviting outdoor space, clean floors and a fresh coat of paint—particularly in the right color—can deliver a powerful signal to potential buyers that a home is well-maintained and contemporary. While sellers may be reluctant to shell out for these projects up front, those improvements can ultimately pay off, either by helping a home sell faster or for more money."

Nearly three in four recent sellers (74%) believe the improvement projects they completed to prepare their home for sale helped their home sell. The top projects that recent sellers say helped sell their homes were interior painting (27%) and landscaping (21%).

"A well-maintained home is one of the best ways for homeowners to attract buyers," said David Steckel, Home Expert at Thumbtack. "Thumbtack research finds a well-maintained home can sell for about 10% more than a similar home in average condition. Buyers are making life's biggest investment, and they want the peace of mind that they're investing in a home that was well cared for."

However, when considering which projects to pass on, only 11% of recent sellers thought appliance repair or replacement, and roof repair, maintenance or cleaning helped sell their home. Meanwhile, 17% believe completing a kitchen renovation to prepare their home for sale helped sell it. While costs vary depending on the work done and materials chosen, this project can average $10,355.

Historically, late April was traditionally found to be the best time to list a home for sale, which means now is the time to get a jump on any repairs or improvements. Previous Zillow research found that the top seller's regret is that they didn't start the process of preparing their home for sale sooner. And one-quarter of sellers who made at least one home improvement before listing their home for sale say it took longer than expected.

A recent Zillow analysis found that homes are now lingering on the market for a median of 54 days, 45% longer than last year. This could be due to the fact that mortgage rates remain in excess of 6%, as buyers shy away from a housing market amid overall economic uncertainty.