Before choosing to update your home and make it appealing for a sale, a seller should seriously consider if that improvement will re-coup all the costs. Yes, buyers today want updated features, and many do not want to do the work themselves. Most likely if you over do it, you will be loosing money in today’s market.
â€œIn an ideal real estate market, that would add value, but in todayâ€™s market, expensive pre-sale renovations, for the most part, arenâ€™t worth it. The numbers bear this out: In general, a home remodel will cost quite a bit more than youâ€™ll get back when you sell; remodels done in 2010 will only recoup 60% of their price when the house is sold, according to Remodeling magazineâ€™s 2010 Remodeling Cost vs. Value survey, done in partnership with the National Association of REALTORSÂ® (NAR).â€ – RISMedia
Kitchens and bathrooms are still what attract buyers. So yes, that is where you would want to start. Here are some tips on what to do and not do if you are getting your home ready to sell.
In the Kitchen
- Costly professional-grade cook’s appliances should be avoided. If buyer might enjoy the professional grade he might actually prefer a rival brand or maybe the buyer is not a chef.
- Have your appliances serviced so that they are in excellent working order. If your appliances are seriously out dated, you may want to consider replacing them. Buyers do love stainless appliances â€“ a great selling point for sure. Many times you can find new appliances on amazing clearances because it is old stock. One time I found an oven at Sears for 90% off.
- Consider skipping replacing your kitchen cabinets even if slightly outdated. This can be a â€œtaste-specificâ€ issue and very subjective. If you chose light cabinets and they buyer prefers dark wood, then you might loose them over and improvement.
- Think about refacing the cabinets if they are extremely outdated. You could have a company come in for under $2000 and this is a great investment in comparison to at price new kitchen.
- Granite and marble should be avoided as a pre-sale upgrade. It is too costly. With so many different options, it will be tricky to find something that will please a large number of buyers.
- Hiring a professional cleaning company is a wonderful idea. Have you ever had your car detailed. Well detail your kitchen and even the rest house. It will not go unnoticed.
- Do touch up your the paint on the trim and the walls. Hopefully you still have some left over paint or that swatch to get more.
In the Bath
- Don’t invest in big ticket â€œtaste specificâ€ items like the kitchen. Skip expensive tub and shower upgrades as they are a matter of taste.
- Go a ahead and replace dated fixtures in the bath, sink and even lighting. Oh yes, and please get rid of that brown, green or pink toilet. Buyers don’t like to be forced to decorate around the color of the toilet. Another idea is replace your small shower head with a rainwater style to give the shower a spa feel.
- Do try to brighten up the vanity. It is affordable to add a large mirror and lights.
Photo Copyright 2006-2011 – Amy S Myers