You want to make the most money possible when it comes time to sell your home. The way to do that is by improving and updating the things in your home that buyers look for the most.
We compiled this list for those looking to boost their resale value. It’s important to focus on the renovation projects that will net you the highest ROI. All of the projects on this list were chosen for their ability to produce high ROI as well as create a more desirable home. Remember – it’s important to make money. But it’s also important your house doesn’t sit on the market for a year.
Make these updates and you should fetch a high sale price, quicker than you would otherwise.
1) Remodel the Kitchen
The decision among real estate experts about where you get the highest ROI renovating your home is unanimous. The answer is in the kitchen. For some reason people just want nice kitchens and care about it more than the rest of the house… Maybe it’s because that’s where people like to entertain guests. Your main priority when renovating a kitchen should be layout. Creating a structure (or bones) that is functional and can easily be updated is super important. It’s one thing to replace a counter-top and cabinet doors. It’s a different story to completely renovate the whole kitchen.
Once you get the structure out of the way, search for materials that have a high quality look without a big price tag. You can make a space look modern and luxurious without having to use marble and granite.
2) Update Bathrooms
Bathrooms are the second place buyers typically place the most value in a home. The good news is that making updates to a bathroom doesn’t have to cost a fortune. En-suite/master bathrooms are the most important. As they say, it’s where the magic happens. Cast a spell on potential buyers with a beautiful en-suite. That was really corny I know…
3) Repair plumbing issues
Can we say structural problems? This is the #1 worry of all potential buyers. No one wants to move into a beautiful new house and have a disaster occur two or three months down the road. Re-doing your old piping and updating it to a newer plastic solution is a huge selling point. This removes some of the potential fear that comes with buying a home.
4) Remove paneling
Wood paneling and Stucco are common in older homes. Mainly because when it was popular, we didn’t have walls without imperfections like we do now. Not only are these two things ugly, they also show potential buyers that you lack the ability to update your home. “If you can’t update this, what is is lurking?”
5) Attic Renovation
Attic renovations are a popular choice among DIY projects as expenses can be minimized. In many houses you will have the bones for a room. All that is required of you is putting up walls and handling the cosmetics. Updated attics can sometimes be a stronger selling point than updated basements.
6) Replace Siding
Since curb appeal is so important, it makes sense to focus on the biggest factor. The outside of the house. Everyone knows the dingy, yellow siding that used to be white 60 years ago look. If your house looks like that – sorry. It’s time to update. For those on a budget you can also try power washing. Power washing sometimes brings better results than you could imagine. And it barely costs
7) New Garage Door
In addition to replacing/refreshing your siding and landscaping well, your garage door can play a big part in selling your house. It’s another element of curb appeal that can draw in or turn-off potential buyers. Luckily, new garage doors re-coup on average 80% of their investment in the long term. Basically, it will help you break even (or make money) while making your house more desirable.
You want to sell your home in the least amount of time and for the most amount of money possible. The way to do this is by performing renovations with a high ROI. In addition, you want to focus on the most desirable updates. Doing so will ensure you attract more interest on your property.
Each of these on the list may not be necessary or feasible with your budget. Remember that curb appeal, kitchens and bathrooms are important. If you can focus on nothing else, focus on those things. These projects will reduce your risk of losing money in the renovation process and also help you sell quicker.
Need more information on selling your home in the area? Give me a call!
It feels like Spring. So, lets start acting like it! After all, the market sure is! Over the past 2 months, the market has been on fire and listings are selling faster than ever. But the secret to success is not just slapping a home up on MLS and tossing a sign in the yard.
Before you list your home, there’s a simple checklist that you should work through to make sure you put your best foot forward. No, we’re not talking about staging the house or remodeling. We’re talking about the practical, quick fixes that can make your house shine in just an afternoon!
Here’s our Build Cincinnati’s must-do list:
- Mulch – If you’re about to list your home, immediately go to Home Depot to grab a few bags of mulch. In an hour, you can spruce up the curb appeal drastically with just a few bags of mulch and spreading them around the beds.
- Flowers and Grass Cutting – You don’t need a green thumb to make your house stand out. It’s all about the photos on the internet that attracts people into you home. So, the more color and orderly your yard looks, the better you’ll compare to your competition. If all else fails, call your local landscaper!
- De-clutter We all have too much stuff! This is just life, unless you’re a true minimalist. Our solution: grab a few boxes and start to shovel some of the extra personal items in there. These can be knickknacks, photos, cluttered wall art, magazines, or anything else that catches your eye. The motto ‘less is more’ is key when prepping your home for photos and showings!
- PURGE! Chances are you won’t be taking everything with you when you move. So start the purge now. Grab a garage can and start to remove the items now. This will make the move more manageable when that time comes.
- Act like you don’t live there! This is the hardest task. We understand that life pulls you in different directions and kids/animals aren’t always cooperative. But, keeping your house clean and tidy is key to putting your best foot forward for every showing. So as you leave every day, try to emulating a Pottery Barn catalog best you can!
Now, we could name 100 others quick fixes, but we’ve found that time is normally tough to come by when you’re planning to sell your home. In an effort to make the preparation process manageable for you and other Sellers, these items should be the top priority rather than getting side tracked by other glitzy sales ideas!
And, if you have time to spare once these items are complete, we can always make a few other recommendations!