Getting ready to sell your house and wondering where to invest time and resources? Strategy plays a significant role in updating, organizing and staging your home. After closing hundreds of sales, we have learned which areas make the most significant impact.
Choosing the proper updates ensures you get the best return on your investment. It could be monetary gains in the form of higher offers, but the right updates can also lead to a quick and easy sale with less stress.
Before tackling projects, ask the following questions to help determine where to spend your time, energy, and money.
What would hold people back from making an offer?
Get into the mindset of potential buyers and walk through your house as if you were thinking of purchasing it – what stands out that would possibly hold you back from making an offer? Make any necessary repairs that could potentially affect the perceived value of your house and identify any ‘problem’ areas that could use a refresh.
How will potential buyers see the main areas of your home?
Generally, when buyers walk through a home, there are three main categories in their minds:
- They don’t like it and will fix it when they move in.
- They don’t love it but can live with it.
- They WANT it!
The goal is to get your home (at least most of it) into the area of I WANT it! Look at each potential update and weigh cost vs. reward. What will it take to make those improvements and bump it up to an ‘I WANT it’?
What will have the biggest impact?
Which updates will make the most significant impact for the least amount of money? Getting an outside perspective from an experienced real estate agent can help you better focus your efforts and prepare your home for sale. We work with buyers and sellers every day, receiving feedback from nearly 100% of our listings for a deep understanding of what people want.
There’s nothing worse than spending time and money updating “A” when potential buyers have their hearts set on “B.”
5 Quick & Simple Updates
While the list of updates will be unique to you, as a general rule of thumb, these five changes are cost-effective while having an incredible impact.
Paint can be a game-changer when updating a home. Aim for light colours that brighten the space, contrasting the walls and trim. Soft grey walls with bright white trim are a classic look that is clean and fresh.
Updating light fixtures is another cost-effective way to make a house look more modern. We like 3000k lightbulbs all in the same colour to keep lighting consistent throughout the house.
3. Door handles and switches
It’s all in the details! New door handles, light switches and plug covers can help define the big picture and add a more luxurious touch, even if people may not consciously pick up on it at first.
4. Curb appeal
Buyers start making an impression as soon as they step out of the car, so don’t neglect outside your home. Relatively small jobs like cleaning gardens, mowing the lawn, repainting your garage and front door, or adding a new lockset can increase perceived value.
5. Reseal the driveway
If your driveway is faded and cracked, resealing is a great way to clean it up and boost your curb appeal for minimal cost.
3 Areas Worth the Splurge
If you want to get absolute top dollar for your house and have the time and money to do a more extensive refresh, the top areas to focus your attention on are generally the kitchen, washrooms, and flooring.
1. The kitchen
A kitchen is a gathering place and an essential room in the home, so it’s high on the list of buyers’ wants. When updating your kitchen, look at each individual item and how it all comes together to create the big picture. How much would you have to replace to get your kitchen into the “I WANT it!” area?
More significant updates may be worth the investment, but there’s no need to redesign the space completely! A smart kitchen refresh can certainly come back to you when selling. Hiring a professional company to paint cabinets, replace hardware, update countertops, and add a new sink will completely transform an outdated kitchen.
Flooring can be a quick and easy update that has a huge impact. It can generally be replaced in a day or two, but you may not even need to fully replace it. Steam cleaning or hiring a company to stretch rippled carpet can make an incredible difference. If it does need replacing, spending extra on a plush underpad can make more economically priced carpet feel more luxurious.
If you have scratched hardwood floors, you can consider refinishing or adding a new area rug to a large section to soften the space and give it a more modern feel.
Washrooms are another critical area of the home that buyers pay close attention to. A remodel and update can undoubtedly be worth the investment. Even minor updates like caulking the bathtub, upgrading the showerhead, or adding new faucets go a long way.
It’s always a good idea to get the advice of your real estate agent before undertaking any major projects. Having a professional on your side to help you make the tough choices on where to spend your time and money is invaluable.
If you need advice, our real estate team is happy to help! Reach out to book a call.