Making the decision to renovate your home before you sell can increase it’s value but some types of renovations will give you a better bang for your buck! The following tips will help you make the right renovations that will actually pay off for you when it’s time to put your home or office on the market.
Improving your homes energy efficiency is a very good investment. For example… Remodeling.com had a survey that found that homeowners recouped 116% on attic insulation when selling their homes. More and more homes are offering buyers greater energy efficiency and you don’t want to lose a buyer because your doesn’t not. HVAC upgrades, water heater upgrades, and window upgrades also give you a greater return on investment that most upgrades.
You get only one change at a first impression, also called curb appeal. This first impression will frame the rest of the walk-though for your potential buyers so you want to make sure your exterior is looking its best. A new front door, pressure washing, and landscaping are great choices. Adding stone veneer, a new garage door, or a new entry door recoup 90+% of your investment, but giving a better first impression is the goal of most exterior upgrades.
As long is you keep the kitchen remodel budget-friendly, they are a great way to help sell your home. If you only can focus on one room then focus on the the kitchen, the heart of any home. Studies have shown that 80+% of people list the kitchen as the most important room in a home. New cabinets, resurfaced cabinets, new appliances, upgraded counter-tops, and new cabinet hardware are great places to start.
Bathrooms are the most important rooms in your home after the kitchen. Even minor bathroom remodels can prove 100+% return on investment. Re-grouting your tile, fixing caulk, new showers, new tubs, new toilets are good places to start. Like exterior upgrades and kitchen remodeling, the most important thing is to have a bathroom that is up to standard or above contemporary standards so you can sell the home at the price you want.
A new coat of paint goes a long way. Also, if your home has some rooms with murals or color choices that won’t be liked by most buyers, then’s it time to repaint those rooms! New paint colors choices should add light to the room and hide and visual defects.
Outdated carpeting or unusually colored carpet needs to be replaced. Hardwood floors are in demand by most buyers and can add 2.5% to a homes sale price. Focus on improving flooring in kitchens, living rooms, and family rooms first and then work towards the bedrooms and other areas of the home.
Increase Square Footage
Making your home larger and more livable can be a large investment but one that allows it to sell and in most cases for much more money. Square footage is one of the main home valuation drivers. Finish a basement or convert a deck into a sun room and you have more square footage of living area. Studies have shown that you can recoup 70-80% of your investment on a two-story addition, a bathroom addition, a family room addition, and an attic bedroom. One word of caution is that you don’t want the largest home on the block! It’s more about getting your home in a position, so buyers are willing to buy your home and at the price you wish.
After the Upgrades It’s Time to Prepare for the Inspection
When you’re selling your home, preparing for the home inspection is one of the most important things you can do to help prevent unnecessary delays during the closing process. Keep in mind that home inspectors are not required to move any furniture or items blocking access to areas that need to be inspected. If access to any area is not possible during the inspection, it can lead to incomplete results, additional fees and potentially, an annoyed and frustrated buyer. Most home inspectors charge an additional fee if they must return to the property to inspect items which were not accessible the first time around. You want to make the process as smooth as possible so following this 5 tips…
Turn on all utilities (Power, gas, water, etc.) For the Inspection
Makes sense that the inspector must confirm that all utilities for the home are working and in good condition. If a home inspector arrives for the scheduled inspection only to learn that the pilot flames are not lit and that the utilities have not been turned on, there is a good chance that the inspection will need to be rescheduled. This, in turn, could result in a delayed closing date for the property.
Clear Access to the Electrical Panel, Water Heater, Furnace, Attic and Crawl Space
If major appliances are not easily accessible, the inspector will be unable to closely examine and report on the equipment and its’ current condition. Again, this may result in a secondary trip after you have cleared access to these important components of the home. Extra time and additional costs can add up quickly if you’re not prepared.
Kennel the Pets
The home inspector is there to perform a thorough inspection which requires skill, knowledge and most importantly, the utmost concentration. During the inspection, an inspector spends time coming in and out of the home as they check all the components and systems of the property. Needless to say, it would be hard to determine if the electrical panel is set-up to code, or if the furnace is in good working order while a dog barks incessantly. A pet that runs out an open door during an inspection, could be detrimental to the owner. Do yourself a favor and be sure your pet is out of the home on inspection day.
Don’t Be a Hoarder
When preparing to put your home on the market, decluttering is the name of the game. However, decluttering doesn’t mean “hiding” those throwaways in the attic or garage, thereby, making those areas inaccessible. It’s necessary that both the attic and the garage are accessible during the inspection as many components are noted on the report. Rent a storage unit or POD if you just can’t part with those beloved items, instead of risking a return trip and accruing additional costs. Ask yourself if keeping that old mannequin is really worth delaying the closing?
Clean and Repair
What better way to spruce up the house before you sell than to do some upgrades, repairs and maintenance. Change burned-out bulbs in light fixtures and caulk or seal around bathtubs and/or exterior windows/doors. Paint areas that need it, clean windows, and just clean in general – bathrooms and the kitchen are a must. Showcase your home for a quicker sale. The message you’re sending is, “This home is well-maintained.”
You can trust the professionals Style Flooring, Cabinets, and Carpets to tackle the job and make your home remodeling process easy so you can just enjoy the exciting parts!
Contact us (859-279-3421) for a complimentary in home estimate and design consultation
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