As a general rule, sellers should invest between 1-3% of the listing price to ready the property.
But, it’s difficult to put an exact amount on this since as there are a number of factors to consider:
1. Age of the home - newer homes will likely require less work which = less money spent
2. How long you’ve lived there - the longer you’ve been in your home, the higher the expectation is that you have made some improvements
3. Recent upgrades - if you have made some recent quality improvements, this will reduce the amount that you need to invest
4. Selling ‘as is’ – sometimes, a home is being sold as a ‘fixer-upper’ which means buyers will have much lower expectations. Remember, you still need to show the potential of the home so less expensive updates (painting) may be needed
5. Potential major upgrades (roof, plumbing, etc.) - these can significantly increase the investment needed to prep the home. A staging professional or real estate agent can guide you in the right direction re maximizing your return on your investment