Sellers often ask us what we think about the the return on investment for renovations and upgrades. It’s an important consideration for time on market as well. Home values can decline when they are listed for extended periods. You may not break even on a project, but it might make the difference between a quick sale or a listingthat languishes on the MLS for weeks to months. So, here are some ideas to consider as you evaluate your home and settle on an offering price with your Realtor.
Let’s shed some light on the subject
Natural lights sell houses! Dark spaces can make a room feel small and cramped. So, make sure those bulbs are bright and the fixtures are in excellent working order. Open floor plans with light interiors will also make your home feel bigger and it’s better for entertaining. Vaulted and cathedral ceilings are a plus and help create the illusion of more space. Painting that dark wood ceiling a light color can do the trick! A little paint and a few new light bulbs are a small price to pay when it comes to selling your property.
Raw curb appeal
The exterior of your home is the first thing buyers see and is crucial to the sale of your home. First impressions are everything and whether we like it or not, buyers totally judge the book by the cover. Statics predict that improved exteriors can add approximately five percent to your home’s value. This includes your driveway too! The driveway should be manicured properly, and lawns or planting gardens properly maintained, newly pine-strawed or mulched and weeded.
Think About The Best Use For Unused Space
Top idea in this category is to create a home office. In Cashiers and Highlands we find that many of our buyers are business savvy. They may still be involved in a business or their own portfolio. A home office with a good computer set-up can really add value. Today, setting aside a quiet space for catching up on work is important to a lot of our buyers. “You mean I can own a vacation home in a luxury community and still be able to conduct business?” Yes please!
Extreme Makeover – Deck Edition
Let’s not put lipstick on this pig! Studies have shown that repairing or adding a deck to your home can make your property more interesting to buyers. It is also likely that you could recoup more than eighty percent of this expense at sale time. When you decide to makeover your deck, take your time to plan it out. Large, well maintained outdoor spaces give the illusion of more space inside. From the inside looking out, imagine your windows as picture frames.
Then, create unique features and decor that complement your interior design. On the Highlands-Cashiers Plateau, don’t forget to add a firepit or fireplace if there isn’t one already. Also use higher grade materials to increase the deck’s lifespan. Bringing the outdoors in is one of the main reasons why buyers flock to our area. Seize the opportunity!
De-clutter and Reorganize
Clutter and disorganization are a distraction for buyers. A large counter can look small when covered with a week’s worth of direct mail and shopping lists. A potential buyer might not even notice the quality of your granite. Empty the refrigerator and pantry of expired food and nearly empty condiments. Consider donating excessive canned goods to a food pantry. Less is more when it comes to the contents of closets. The less you leave in them, the more space they will appear to have. The rule of thumb is to discard or donate clothes, shoes and accessories you have not worn in the last twelve months. Since you are planning to move anyway, this is also a great time to start packing. Tabletops and shelves will look will more appealing without a seller’s personal items. Clearing them off allows buyers to begin visualizing themselves in a new space.
Update or Add Bathrooms
Expect to recoup close to 60% of the cost for an upscale bathroom remodel. But beautiful bathrooms can significantly shorten the time it takes to sell your home. For many buyers, the need for extensive remodeling is a deal breaker. And while you may not get 100% of the remodel back, it prevents offers seeking a discount for the entire cost of a bathroom in need of a remodel.
Whether you are simply updating fixtures or completely replacing a walk-in shower, this is a place where a fashion-forward update can really help buyers choose your home over another comparable listing. And, if your bathroom looks just fine, an investment in fresh linens and accessories is sure to pay.
Update Your Kitchen – Easy Fixes
There’s a lot you can do to update your kitchen without going into a full remodel. Fresh paint or wall coverings in the latest colors is an easy start. If appliances are more than ten years old, consider replacing them. A new backsplash in a popular material is another quick fix. But the easiest and least expensive update is as simple as shopping trip for fresh rugs, towels, window coverings, and countertop accessories in coordinated colors. Be sure to reorganize all cabinets with fresh, matching dishes and glassware. Toss out or pack up the mismatched coffee mugs and promotional koozies. Then, take a deep breath and empty out your junk drawer.
Get A Home Inspection Before You List
Even minor defects can create uncertainty with prospective buyers. And, you are almost guaranteed that your buyer will require a professional inspection. So, why not beat them to the draw? Clearing up any deficiencies a good inspector is going to find and getting that part of the process out of the way is a fantastic stress reducer. In today’s real estate market inspections are thorough and most buyers hold sellers accountable for deficiencies. A short and problem free inspection report gives your buyers confidence that they have made a good decision and should be ready to move toward closing.
Keep Track of Projects and Expenses
A well documented makeover is a great way to speed the sale of your home. Hang on to plans, materials used, and the receipts from your contractors. We like to offer a list of upgrades and renovations to buyers to help build value and increase their confidence in a purchase price.