It is a common concern among sellers that they invest wisely when improving their current home before listing to appeal to the widest audience, yet not spend more money than necessary to sell. They want to get the best possible return on their investment.
Which items will add value to your home and help with resale when the time comes to sell?
The answer is: “Only the ones that future buyers will also want and be willing to pay for.”
As a general rule, choosing the functional over the merely cosmetic and choosing neutral over unusual or exotic will pay at resale. Taste and current trends can also affect the value of an update. Unusual colors have a limited appeal.
Which updates will add the most value to your home?
1. Update your kitchen and/or bathrooms. Whether you need a minor or major remodel, updating the kitchen or bathrooms in your home will yield a high return on investment. Stay timeless with your updates, but also pay attention to trends.
- Clean and repair caulk, which costs next to nothing, but makes a bathroom feel fresh and clean, even if fixtures are a little dated.
- If your tub, sink, counters, shower floors, and tile floors are in good repair, but are stained or in an odd color, consider reglazing instead of replacing. This cost effective approach is durable and beautiful. In most cases, reglaze to a fresh white finish for the best impact. The Chad Wilson Group has vendors who do this work that we can recommend.
- Clean shower doors and tracks until they sparkle. If you have a shower curtain, consider replacing with white for universal appeal and a fresh look.
- If your cabinets are in good condition but dated, consider cabinet refacing or painting rather than replacing. The Chad Wilson Group has vendors we can recommend for this work at a fraction of the cost of replacing.
- If your kitchen lighting is dated, purchase something new for little money but great impact.
- For the most part in the St Louis regional market, homes priced in the high $200,000’s and up should have solid surface counters in the kitchen. Buyers expect it. The Chad Wilson Group can refer you to vendors who can add granite or quartz for less than you might think.
- If bathroom and kitchen floors are in poor repair or dated, consider replacing with vinyl plank flooring. Today’s styles mimic the look of wood or tile and are super durable. Many homeowners find they can do this work themselves, as installation isn’t difficult. And you will be surprised at how far your money will go with this product.
2. Lighten and brighten your rooms.
- Paint is cheap and packs a big punch! Painting all walls a neutral color will make them fresh and clean and widely appealing. Right now, light grey or “greige” (mix of beige and grey) are the hot colors to choose. The stager or listing coordinator from our team will be glad to recommend color choices for you. If you can’t afford the time or money to paint the entire interior, start with the main living areas first, followed by the master bedroom suite. Leave secondary bedrooms for the end.
- In the majority of cases, removing heavy drapery is the best move for sellers. It blocks natural light and makes the room seem closed in. Keeping only the blinds and allowing window trim to show is preferable, or using light and airy sheers or panels on some windows will provide some coverage but keep the rooms bright.
- Make sure all light bulbs work inside and outside of the house. Make sure all bulbs are the brightest they can be for the fixture and that all bulbs in a single fixture match.
3. Revamp the exterior. Updated landscaping will draw in buyers before they even walk through the door, and doesn’t have to cost a lot of money.
- If your landscaping has gone wild, trim it up or replace overgrown shrubbery with something smaller. You don’t want your landscaping to hide the beauty of your home.
- Add a splash of color with vibrant plants or by painting the front door an eye-catching color.
- Power wash all concrete and seal it. You will be amazed at how much of a difference in curb appeal fresh and clean driveways, walkways, patios and porches can make.
In short, we tell our clients there are 4 simple rules to prepare your home for sale:
- If it’s broken, fix it.
- If it’s dirty, clean it.
- If it’s cluttered, declutter it.
- If it smells, neutralize it.