Considering the sale of your home? Here’s why you should make some improvements first.
Selling your home is a significant decision that involves numerous considerations, from market conditions to timing. One critical factor that can greatly influence your home’s sale price and appeal is its condition. Before you list your property, investing in some strategic upgrades can make a world of difference. For example, a minor kitchen remodel can offer a return on your investment (ROI) of up to 80%, while a bathroom remodel can provide a return of around 70%.
Here’s 5 upgrades you should consider making before putting your home on the market.
1. Kitchen Remodel: Modernizing the kitchen is often the most significant investment you can make. Upgrading appliances, countertops (such as granite, quartz or soapstone), cabinets, and lighting can make a substantial difference. Even minor upgrades like new hardware and a fresh backsplash can have a strong impact.
PRO TIP: Soapstone countertops are quickly becoming a sought-after and popular material for residential kitchens. Soapstone is naturally durable, an exceptional choice for just about any surface in your home. Its non-porous qualities make it heat and stain resistant as well as relatively low maintenance, which is ideal for countertops. It may come with a higher price tag but this natural stone will help a home sell for 3% more than expected.
2. Bathroom Remodel: Updated bathrooms are a major selling point. Consider new fixtures, a modern vanity, improved lighting, and quality tile work. Adding features like a walk-in shower or a freestanding tub can enhance appeal.
PRO TIP: Matte black fixtures often associated with farmhouse and modern design is an upgrade that can add 2.9% above asking. It is versatile and doesn’t show fingerprints like stainless or brass.
3. Curb Appeal Enhancements: The exterior of your home is the first thing buyers see, so make it count. A well-maintained lawn, attractive landscaping, a new front door, and a fresh coat of exterior paint can significantly boost your home’s first impression. The outdoor living space is also an attractive and important feature as more homeowners are seeking alternative places to relax and entertain.
PRO TIP: Consider adding an outdoor TV. According to Zillow, new research has found that homes equipped with an outdoor TV draw offers 3.1 percent more than expected—or $10,749 on a typical U.S. home. That’s a lot of return on a simple addition to your outdoor space. You’ll want to be sure to choose a TV unit that’s made specifically for outdoor use.
4. Open Floor Plan: Creating a more open and spacious layout can make your home feel larger and more inviting. Removing non-structural walls to achieve this can be a relatively simple yet effective upgrade. The benefits of an open floor plan start with creating connections. With no walls between the kitchen, living room and dining room, families are in the same space as they go about their day.
PRO TIP: According to HomeServe, creating an open floor plan can increase the value of your home by 7.4% each year. The most popular area in the home to open is between the kitchen, entryway, and living room areas.
5. Adding A Beverage Center: What was once the wine fridge has now become the all-inclusive beverage center. They’ve grown in popularity in recent years not only because can you keep your wine cool in them, but you can also keep your other alcohol and drinks at the perfect temperature. Like wine fridges, these fit under the counter and have different temperature settings for different types of drinks.
PRO TIP: According to Zillow’s report, “when a beverage center is mentioned in a for-sale home’s listing description, that home can sell for 2.4% more, compared to 0.9% more for a wine fridge.”
Investing in home improvements before selling can pay off significantly. Not only can it increase your home’s value and attract more buyers, but it can also reduce the time your property spends on the market and give you better negotiation power. By making strategic upgrades, you can ensure that your home stands out in a competitive market and ultimately helps you achieve a successful sale.
We are here to help you through the process. Contact us today to get started and assess your home’s current condition and prioritize the improvements that will have the most impact.
