Are you thinking about selling your home? If you are, you may want to consider completing some home improvements before listing your house on the market. Although these improvements take time and money upfront, they could exponentially increase the value of your home when selling. Additionally, by installing upgrades you will be increasing your pool of buyers – and as we all know, competition can drive your home’s value up even more!
First Stop: The Kitchen. The most valued room in the home – a beautiful house with an undesirable kitchen can deter buyers. Therefore, when planning your upgrades, plan the kitchen first to ensure that the upgrades are included in your budget. Here are a couple simple steps that could help improve the attractiveness:
- Upgrade appliances. Replacing old, worn out appliances with a new set of energy efficient stainless-steel ones can not only attract the eye of the buyer, but also be a great selling point for an eco-friendly home.
- Open up the space. Whether it is removing a door or even a wall, buyers today are looking for an open-concept home. They want the ability to move around and host guests without feeling trapped. If you have it in your budget, consider opening the kitchen to the primary living areas.
- Repaint and remove any wallpaper. Updating the room can increase the overall appeal during open houses. Also, keeping it simple allows for a buyer to envision their belongings in the room.
- Maximize your cabinet space. Again, buyers are mainly looking for that open space – they don’t want to be stuck with buying a home with no storage, which would ultimately result in unwanted clutter. Take the time and update the cabinet space to keep the surfaces clean and pristine.
Next Step: The Bathroom. This is the second most important room in the home (some even argue that it could be number one). The bathroom is the place for sanctuary – buyers again are looking for upgraded and clean rooms rather than outdated ones. Take the same steps you took with the kitchen – upgrade the fixtures, repaint, and open the space up.
Tackling the Rest of the Home: One Room at a Time. If you have the time and financial ability to continue with upgrades, keep going. Every dollar you put into improving the home now will help you gain a profit when you sell. To get started, cover the basics. Assess the flooring and walls – we recommend painting the rooms a neutral color (again, this helps a buyer imagine the room hosting their belongings), and upgrade to hardwood floors. Both of these tasks can also improve the space, bringing the open concept to the entire home.
Go Energy Efficient. A large portion of buyers today are millennials – and one of their primary concerns when purchasing a home is ensuring that they are purchasing an energy-efficient home. Upgrading your home to energy efficient appliances and lighting can have a drastic impact on the process of selling your home. Not only do you open your buyer pool up, but you also decrease a homebuyer’s future bills. This is a great tidbit to use in your marketing material as well! A few other areas to focus on upgrading include your heating and cooling system and windows.
Beautify the Exterior. Remember your home’s curb appeal, first impressions are lasting impressions. A homebuyer will make a decision in the first 10 seconds of seeing your home on whether or not they may buy it. If the exterior is unkempt (especially if the home is selling at market value), then they may lose interest. Cleaning the front yard, painting if necessary, and removing clutter will give your home a competitive advantage. This one can be low cost with high gain.
Before You Get Started, Make a Plan. This is the costliest mistake homeowners make – not making a plan before starting their improvements! If you remodel/upgrade your home without a plan, you end up spending exponentially more compared to if you created a strategy. The plan allows you to seek out the best deals, as well as allows you to assess how much you can complete before you start going over your budget. The last thing you want is to be halfway finished with a room when you realize you are cashed out.
How to Avoid the Hassle? As stated in the beginning, these upgrades take time and money. If you are not interested in the commitment, there is an alternative solution – sell to us. We see the value in properties and provide our clients with competitive offers for purchase. We take the hassle out of the transaction so that you can put your focus on your future.