Top 5 Low-Cost Home Improvements to Do Before Putting Your House on the Market
Let's be honest, when you're getting ready to put your home on the market, anxiety often creeps in that it won't sell quickly or that you won't get the amount you hoped for. This becomes even more real when you start imagining what the home inspector's report will look like and what buyers will think of it.
On the other hand, you can feel good knowing that there are things you can do to make your property more appealing to potential home buyers. Even better than that is the fact that there are low-cost home improvements that can be the perfect way to entice potential buyers.
While it's true that major renovations can increase the value of your home and will undoubtedly attract buyers, they can also be costly and there's no guarantee they'll pay for themselves. Plus, buyers have different tastes and may not like the way you've done your renovations.
But low-cost home improvements are extremely easy to do yourself, and if done together, they will increase the chances of selling your property faster and at a reasonable profit.
Below are the top 5 low-cost home improvements to consider when selling your house.
1. Prepare the ground
Great landscaping can make a striking first impression. According to a 2013 survey by the National Association of Realtors, 71% of home buyers consider appearances important when purchasing a home. So unless your home is in dire need of repairs, you owe it to yourself to make it look appealing to serious buyers.
Your landscaping should inspire excitement as visitors begin to tour your property, and thankfully, there are some quick and inexpensive exterior improvement projects to help make that happen.
example:
Add color with annuals, seasonal flowering shrubs, and perennials Weed, water, fertilize, and aerate your garden – this will help keep your garden as green as possible Mow your lawn regularly Plant a few deciduous trees, such as a tulip tree, dogwood, or red oak (about 15 feet tall) Edging and mulching your lawn for a neat, attractive look
For a few hundred dollars, you can hire a landscaper to help you and plant annual flowers in addition to giving your yard a thorough cleanup.
Of course, many people will want to know what the return on investment is from a landscaping project like this. Well, a quick web search will reveal that the figures range from 100% to 1000%.
More importantly, when you create a landscape plan that complements the architectural design of your home, the results tend to be striking.
Even if you do have the opportunity to do some major landscaping work, keep in mind that the high maintenance costs may be viewed as a negative by some buyers. This is especially true for millennial homebuyers, as low maintenance costs are one of the top requirements millennial homebuyers look for in a home.
2. Paint or clean the walls
Let's be honest, a freshly painted room naturally becomes more appealing. It also has a clean and updated look. And guess what? A simple paint job or wall washing with the right tools and cleaners can bring you the exact results you want for your home.
When it comes to paint, it's important to pick the right type and choose your colors wisely: Not long ago, Zillow analyzed over 32,000 images of sold homes and found that rooms painted in light blue, pale blue, gray, and powder blue sold for much more than expected (an average of $5,440).
The same report found that a blue kitchen, light blue bathroom, brown living room (with pale taupe, beige, or oatmeal colored walls), cadet blue bedroom, slate blue dining room, greige home exterior, and navy blue front door can increase a home's value by more than $1,000. So, choosing these colors will help you attract a huge number of potential home buyers.
Bathrooms and kitchens are great candidates for a full paint job since they get a lot of attention and traffic. Just be sure to choose the right color for each one. You can do it yourself or hire a professional for a few hundred dollars.
However, if you can’t afford new paint or your walls are still in pristine condition and just have fingerprints, scratches, and dents, washing them can help give them the look you desire.
3. Upgrade your lighting
Do you have a boring recessed light fixture in your living or dining room? If so, now is the time to remove it and install a great light fixture instead. A chandelier is a great option worth considering.
If light bulbs in other rooms are outdated, consider replacing them with new bulbs with the correct voltage for the fixtures in those rooms. Also, consider adding more energy-efficient light bulbs and fixtures, which is one of the best ways to make your home more energy efficient, something many buyers today want.
You might also consider adding lamps and fixtures such as under-cabinet lighting, desk lamps, bedside lamps, accent lighting, and footboard lighting.
Viewings are likely to take place at different times of the day, so consider natural light too – make sure your curtains or blinds aren't blocking the natural light coming into the room.
Exterior lighting is also a key element in enhancing the curb appeal of your space, so add pathway lighting to brighten the space and make it feel more inviting.
Finally, dark furniture, floors, walls and ceilings are known to block lighting in a room, so to be on the safe side, enlist the help of an interior designer to audit these aspects and ensure they are optimized for functionality.
4. Kitchen makeover
It's true that the kitchen is the focal point of any home, which is why many potential home buyers prioritize it over other rooms. If you renovate all your other rooms to make them clean and inviting, and then spruce up your kitchen with some low-cost cosmetic upgrades, more potential buyers will be willing to purchase your home, which will increase your selling price.
While a complete kitchen renovation seems like a good idea, the flip side of such a project is that it will be costly and will not guarantee a reasonable profit.
However, for just a few dollars you can make the following upgrades and get the best resale value:
Paint – Baseboards, kitchen cabinets, trim, moldings, and entryways are just a few kitchen areas that often need a new coat of paint to make your kitchen shine. We mentioned earlier that blue kitchens tend to produce relatively better results, so keep that in mind when choosing your paint color. Eliminate personal items – If you have personal photos, political or religious décor, memorabilia, artwork, etc., it’s best to remove them to give potential buyers touring the property a chance to imagine living in your home. Replace old kitchen appliances – Replacing outdated dishwashers, microwaves, humidifiers, and air conditioners is one way to make your kitchen look fresh and more functional. Clean countertops – Inspect your countertops for cracks, scratches, grout issues, etc., and if there are, take the necessary steps to fix the problem. To remove butcher block, sand and oil it. Clean and remove it if necessary. However, if you do need to replace your countertops, granite is one of the best options to consider.
Other inexpensive renovations you may want to consider include dressing up your backsplash by adding tiles that match the theme of your kitchen, or replacing outdated cabinet handles or drawers with new ones.
5. Update your flooring and replace old carpeting
Keeping in mind that your home may be completely vacant, flooring is one of the most important aspects of making a first impression – it’s likely the first thing buyers will see when they walk into your home.
Many flooring materials naturally deteriorate over time. If your floors look worn out, it can scare off potential buyers. Is there a way to avoid this? Yes, of course there is!
Flooring stores and hardware stores sell water-based products for replacing many types of floors, and they can cost just a few hundred dollars.
Old or stained carpeting is sure to make your home unattractive, especially to potential homebuyers who plan to have pets. Have it professionally cleaned, and if that doesn't help, consider purchasing new carpeting.
Final thoughts
What's unique about these five low-cost home improvements is that they can all instantly change how buyers perceive your home and increase its value, without the wallet-emptying costs of a full renovation. In fact, you can spread the cost out and make one update/upgrade at a time until you're ready to sell your home.
Want additional advice or information about other beneficial, low-cost ideas you can implement before selling your home? Talk to a real estate professional, who will be happy to share their expertise and experience.
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About the author: The above article, “What are some low-cost home improvements to do before selling your house?” was written by Sabine Ghali, Director of Buttonwood Property Management, a property management company in Toronto. She is an entrepreneur at heart and is committed to helping investors build long-term wealth in real estate in the Greater Toronto Area. Sabine has been published in numerous media outlets, including the Toronto Sun and Gulf News.
About Rochester Real Estate Blog: Rochester Real Estate Blog is owned and operated by Kyle Hiscock of the Hiscock Sold Team at RE/MAX Realty Group.
With over 35 years combined experience, we are happy to share our knowledge and expertise if you are looking to sell or buy.
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