Before putting your home on the market, it’s best to do everything in your power (and budget) to increase the value of your home and attract buyers. However, this must be done very strategically. If you are dreaming about installing new granite counter tops and a home-theater, but your roofing and windows need to be replaced, to get the most return-on-investment you should move forward with the latter. While granite counters tops would take your kitchen to the next level, potential buyers will not be able to look past the necessary roof and window repairs. Most buyers can, however, look past elements like outdated counter tops, unappealing room decor or old bathtubs to see the home’s full potential.
The foundation and structure of the home are always more important than aesthetic features. So, once you know that the home is safe and sound, we recommend using your budget to make some of these home improvements to boost the value of your home before putting it on the market.
One of the first things someone will see when viewing your home is your yard, so you want to be sure to make a good impression. Have your grass cut and if there are any wilting spots, lay down fresh sod. Try to add some color with a flowerbed or potted plants and give your front door a coat of fresh paint. If your mailbox and house numbers are dirty, clean them or have them replaced. Another nice touch is adding some outside lighting to give the inclination of an outdoor living space.
Upgrading the kitchen is definitely something you should consider when improving your home. Other than the bathroom, the kitchen is one of the most important rooms in the house to potential buyers. At the least, a few hundred dollars will allow you to replace the faucet, upgrade the cabinet hardware and lighting fixtures and place a fresh coat of paint on the walls. Painting the walls a neutral color is strongly recommended, as a neutral palette makes it easier for potential buyers to envision how their personal taste can be incorporated into the room. If you have the resources, update the appliances to stainless steel, and add granite counter tops and wood flooring. Potential home buyers will appreciate that you took care of the hard work for them and you should receive a greater return as well.
An upgraded bathroom is also a necessity when preparing your house to be sold. At the least, pay to have the tile and grouts professionally cleaned so it looks new. Like the kitchen, give the walls a fresh coat of paint, preferably in a neutral color. Remove dated wall coverings and think about replacing old shower doors or removing the doors all together to give the illusion of space. If you have a portion of your budget to spare, replace the tile, sink, vanity, tub and fixtures. If you only have one bathroom, consider adding another rather than updating your current. In most cases this will increase the home’s value. Most bathroom remodels can have a repay value of 80%, sometimes generating more than the initial cost, so this is one update your should seriously consider.
If your home has an open floor plan, flexible room space or walk-in closets, be sure to include them in the listing presentation. If your home does not have any of these but you have it in your budget, consider adding or creating an additional space in your house. Anything from converting a backyard patio into a sunroom to adding an additional room can help boost the sale price and find your home a new owner faster. Most home buyers are currently looking for homes with rooms that can be flexible or dedicated to a hobby, so extending your space will help prepare your home for the market.
If you have the means, think of investing in a fireplace for your family room. Buyers have a special interest in the family room fireplace since so much time is spent with family and friends here. If you already have a fireplace, think about updating it or adding treatments to give it a fresh look. Regardless, investing in a gas or wood burning fireplace will have significant payoffs, as they are both highly sought after.
You may also want to consider screening your patio and adding french doors. Homeowners enjoy spending time outdoors in a comfortable living space, so decks and covered patios are increasingly sought after. Not only will this increase your living space, it is a bargain when compared to adding an additional room to the house!
If you wish to improve even further, consider adding a home-theater, Jacuzzi or fire pit. These features offer a broad appeal and are commonly requested when buyers are searching for a new home. While there may be a more substantial cost, there is also a higher chance to regain what was spent with these upgrades. Avoid add-ons such as a 6-car garage, as it may be over the top and not needed by most. Above all else, be sure to only add the bells and whistles after ensuring the rest of you home is ready to be placed on the market place.
Posted on March 1, 2016 at 2:53 pm by Justin Timmons & Sabrina Wickham