Thinking about selling your home? While Renovations could increase the value of your property, there are a handful of factors to consider before jumping in.
First, find a good realtor for guidance on how the market is performing in your area. Next up, decide on your target market. Are you looking for a buyer who wants a move-in-ready place? Or is someone searching for a fixer-upper? What’s your time frame to sell? These questions will help determine the ability and size of a potential renovation.
Kitchen and bathroom
When it comes to extensive renovations, the return on value is almost always on your kitchen and bath.
The kitchen is the heart of the home and future buyers are attracted to a space they could see themselves in. However, the cost and time required to remodel a kitchen can add up with new flooring, countertops, cabinets, and appliances. To keep costs down, consider smaller projects that you can do or hire a handyman to do like painting the cabinets, replacing the lights, and refreshing the backsplash.
A bathroom also typically sees a higher return. For larger Renos, consider updating worn-out items, replacing flooring, and purchasing quality finishes. Some easier changes include repainting the vanity, switching out the fixtures, and brightening up your grout.
HVAC, roof, and windows
Items like heating, ventilation, and air conditioning (HVAC), roof, and windows are critical to take care of. If you don’t you risk Buyer’s being concerned with what might cost them more down the road.”
When it comes to your roof ask yourself ‘what’s the damage?’ both financially and foundationally.
Like the roof, when thinking about windows determine if a repair will suffice. Windows can make a big impact aesthetically and add to the efficiency of your home, including its heating and cooling costs.
While bigger Renos may help increase the value of your home, they could also open up Pandora’s box, so when planning for Renos, consider if smaller changes may fit the bill.
A fresh coat of paint indoors and outdoors makes a home look larger and well-maintained. Also consider painting the exterior, especially the front door. Little things like changing the doorknobs and ensuring the insides of cabinets and closets are in good shape show a polished home that buyers can appreciate.
Lastly, don’t forget the cleaning! While this isn’t a renovation, a good deep clean of your home is a great way to show off its features. Fresh flowers, green grass, mulch in the garden, and potted plants go a long way to add to the buyer’s first opinion and curb appeal is critical to getting the best offers for your home.
Remodeling your home before selling is no small decision. If you have time, a clear budget, and want to attract a move-in-ready buyer, consider taking on larger renovations like the bathrooms, kitchen, or mechanical systems. Or, if your property is already in good shape, consider some paint, a professional handyman to take care of small items, and proper cleaning.
There are many paths you can take when thinking of renovating your home before selling, and your realtor can help identify the one that will help in your local market.