Do you want to list your home, but you aren’t thrilled about having to do a lot of renovations? The good news is, you may not have to do as many renovations as you think you need to get a good return on investment (ROI). There are many factors to consider, and it depends on what items in your home need repair or just need sprucing up.
In most cases, you will get back approximately 65% of what you spend on renovations, as long as it’s something that the home buyer appreciates. However, it’s not that cut-and-dry. You can spend your money on the right updates and get a good ROI. Or, you can spend money on renovations that don't attract many buyers. The goal is to put your money toward renovations that are necessary or that will attract buyers.
Minor Repairs And Deep Cleaning Go A Long Way
The first step is to assess the damage. Do you have minor repairs that are easily fixable that won’t put a burden on your budget? There are several do-it-yourself home projects you can do that will boost your home value. Deep cleaning and cosmetic improvements can do wonders. Some examples are:
Clean every corner, ceiling to floor. Pay close attention to dusty windows and baseboards, cobwebs on ceiling corners, and dusty ceiling fans and light fixtures. Also, clean around light switches and doorknobs. Those areas tend to get dirty from lots of hands touching them. Sometimes a little bleach can remove the discoloration. You should also check walls for stains.
Freshen up the walls. Choose a neutral paint color and repaint the walls. Remove old wallpaper and repair any scratches or holes from hanging pictures.
Update kitchen and bathroom fixtures. Replace light switch covers, doorknobs, outlet covers, and light fixtures. Replace faucets with shiny new ones. You can also spruce up cabinets, and the vanity with new cabinet knobs and drawer handles.
Replace flooring. If your bathroom and kitchen floors look too worn, you can install new flooring yourself for reasonable pricing. Check under your carpets to see if there is wood flooring underneath as this is a big seller item. You could remove the carpet and restore the wood flooring for a whole new look in your home.
Clean the exterior of your home. Wash the windows and power wash siding to make your exterior clean and bright. Paint the exterior if needed. Also, power wash the driveway and sidewalks, as well as outdoor decks and patios. Don’t forget to clean the gutters!
Install a new front door and window shutters. You may not even need to replace them. Sometimes all they need is a fresh coat of paint.
Clean up the landscaping. Plant greenery and perennials in the front of the home for curbside appeal. Trim trees and bushes, remove weeds and repair dead or bald patches of grass.
Low To Mid-Scale Renovations
If you have the time and money for bigger projects, choose the ones that matter most to buyers to get the biggest ROI. Kitchens and bathrooms are the typical big sellers. Unfortunately, they are usually the most costly to upgrade. But, if your house is older, updating these rooms will add a lot of value. If you want to go a little deeper than the basic cosmetic upgrades, you can take a few extra steps. For bathrooms, you can replace an old vanity top, in addition to the flooring and fixtures. For kitchens, add some backsplash or even granite countertops. Paint the wood around your kitchen island a new color, being sure to match the cabinets.
Another way to impress buyers is to level up on your landscaping. Curb appeal makes the first impression when potential buyers tour your home. Some simple landscaping ideas that you can do yourself would be to trim bushes and trees, plant flower beds with borders (especially around entrances and walkways), and add fresh mulch.
Should You Sell Your Home “As Is”?
When you make some of the before-mentioned home improvements, you may find that there isn’t that much more left to do to make your home marketable. However, if your home requires major repairs, you will need to evaluate your options.
When you make some of the before-mentioned home improvements, you may find that there isn’t that much more left to do to make your home marketable. However, if your home requires major repairs, you will need to evaluate your options.
Are you ready to explore your options and put your home on the market? Contact Stacy Cate and start moving!