When the season to sell your home approaches, it’s time to think strategically about what types of home upgrades you want to make in order to maximize your resale value and minimize the investment of time and money needed to upgrade. Preparation for your home’s sale starts months before putting it on the market, so begin by carefully evaluating the resources you have available to prepare.
A delicate balance exists between upgrading your home and over-remodeling it. Too many upgrades may not pay off when it comes to your home sale. A careful consideration of the market in your neighborhood provides facts to guide your upgrading plans.
Here are some upgrades that could cost you if they are made merely for your home sale:
(1) New Wall-to-Wall Carpeting
Laminate flooring that mimics hardwood flooring is trending. So, save your dollars and refrain from laying new wall-to-wall carpeting right before selling your home. Here are some better options:
- Wood-mimicking flooring. Wood-like flooring in laminate, vinyl, and ceramic tile is one of the top flooring trends and likely won’t go out of style any time soon.
- Waterproof flooring. Waterproof vinyl and laminate flooring help busy homeowners save time and money in the long run.
- Natural flooring. Environmentally-responsible flooring is something today’s culture leans toward. Natural, renewable, recyclable materials bring the outdoors inside for a refreshing overall look.
(2) Over-Improving Your Bathroom
Turning your functional bathrooms into luxury ones will not likely pay off when it comes to the return on investment you’ll receive for time and money spent. You may love a ceramic tiled walk-in shower, but potential buyers may not love the added asking price for your home.
If you plan to move soon, and your bathroom needs improvement, stick to basics such as:
- Adding a new fixture
- Updating hardware
- Painting it a neutral color
- Hanging a new, classy mirror
- Replacing old, stained bathtubs
- Replacing grout in your sink and tub as needed
- If flooring is needed, consider laminate flooring
(3) High-Dollar Landscaping
Planting ornate trees and shrubs isn’t necessary when it comes to selling your home. Instead, invest time in practical touches that will make your home stand out to potential buyers.
- Look at your yard as if it were another room in your home. Declutter it by removing works in progress that may be detracting from the visual appeal of your home’s exterior.
- Keep your yard pristine by clearing away all leaves and debris. Keep bushes and trees well-trimmed, and add a welcome wreath on your front door.
- Remove unattractive items from your front porch and add a pot of brightly colored flowers.
(4) Built-In Electronics
People may enjoy watching episodes of their favorite movies with booming sound and an oversized built-in screen, but some potential buyers may not. Before investing in major electronics to embed in your home and thinking you will recoup your investment on your home’s resale, think again. It’s wiser to keep your electronics portable so you can enjoy them in your new home.
(5) Over-Personalized Décor and Eccentric Paint Colors
Some people love vivid colors on their walls, but when potential home buyers tour a home, vivid colors could be an instant turn-off to them. People want to picture themselves in your home, and if they don’t love bright colors, the chances of a good first impression decreases.
Eccentric paint colors could cause people to create a mental list of all they need to do to make your home personalized to their taste. Painting your home a neutral color makes your home look move-in ready and therefore more appealing to buyers, which is a wise approach.
Painting your home a fresh, neutral color is one of the most cost-effective, impactful things you can do to prepare for your home sale. Older homes and newer homes alike look move-in ready with a fresh coat of paint. Here are some paint tips to prepare your home for resale:
- Pick a sophisticated neutral paint color that will look great in different lighting.
- Choose popular whites to make the crown molding and doors pop.
- Decide on the best finish for your paint colors based on the room’s use.
- Understand how important first impressions are when home buyers enter your home. Fresh paint gives buyers lasting positive impressions.
(6) Overdoing Kitchen Upgrades
Kitchens are the primary gathering place in homes today, but overdoing a kitchen upgrade could cost you when it comes time for your home sale. Instead of over enhancing your kitchen, take some time to create an open, inviting space new buyers are sure to love. Invest in basic upgrades like the following:
- Start with a fresh coat of paint.
- Add new hardware to kitchen drawers and doors.
- Update appliances where necessary.
What Upgrades Should You Consider?
When deciding on home upgrades, understand the fact that you don’t want to price yourself out of the neighborhood by over-upgrading your home. If you’re looking for a good return on investment, replace light fixtures.
The lighting in your home may be outdated, and if so, that’s an immediate turn-off for many potential buyers. Invest in up-to-date lighting to bring a refreshing face-lift to the spaces in your home. While you are at it, exchange those dated ceiling fans for some beauties that match your new lighting fixtures.
- The amount of time you have available to put into upgrading your home
- The basic budget you need to stay within while upgrading
- The type of materials you plan to use in your home upgrade project
- The type of finish used to maximize the visual impact
- The price and condition of comparable homes for sale in your neighborhood
The experienced professionals at McGraw REALTORS® are ready to help you sell your home for the best price in the shortest possible time. Schedule a free consultation to see how a McGraw agent can help you stage your home and get the best sale price.