If you’re looking to sell your home this spring, you are not alone. The number of houses sold tends to peak mid April to late May, making spring the most popular selling season.
It is beneficial to get your home ready before actual listing. Start with the simple things such as making sure your furnace, HRV and A/C are all in working order, that locks and
keys are all functioning well and de-clutter!! . Those are the small things you can do before deciding if you may need some renovations before listing.
However, when you incorporate improvements to the home, you should not always expect the cost to deliver value. In some projects, the cost may exceed the value where the improvements may not be a prudent financial investment. This is what we refer to as ROI or Return On Investment.
With that in mind, the following tips may add to the value of the improvements in the market and may prove beneficial
When it comes to renovations that can add value to the home , it is best to consider what will be the most essential remodel , and the one that will bring the greatest return . In our market the number one room to consider is the kitchen. Replacing outdated appliances, flooring, cabinets, and counter tops will generate top value to the house.
After the kitchen, bathrooms fall just behind. The master bath should be your utmost priority with the improvements to the bathroom that could include new tiles, counter tops and shower enclosure. These little updates are bound to offer value. And don’t forget the grout, cleaning it so it does not appear substandard and replacing areas that could allow water penetration in to other ares of the house will be noted by the astute buyer and/or their agent.
Flooring can be updated by various methods and should be considered through replacement of either worn out or stained carpets and rugs, to instill a newer and fresh look that ultimately will add value to the house. Hardwood is generally preferred over carpet. Buyers can always add a rug over top the hardwood. I have heard buyers say that because of allergies they prefer hardwood over carpet. Tile will be good too in certain areas of the home, especially bathrooms and utility rooms and perhaps the kitchen. I am seeing more of a trend to wood in kitchens now as well.
Why not make the home as marketable as possible? The cost of a basic paint job is not expensive and the return on the money spent is very good. If you do not have time to do the entire house, then the kitchen and the bathrooms should be your priority. This is where you would get the most return for your investment. A great looking kitchen and clean and bright bathrooms will make a great impression. When a house shows well, you will likely get a buyer faster and at a better price.
The saying is you only get one chance to make a first impression, so if you see peeling or faded paint on the exterior, that too should be addressed if weather permits. Hire a landscaper or take it upon yourself to mow the lawn, trim the trees and tend to the gardening. Plant flowers or fill window boxes and make sure the exterior is in tip-top shape
It is probably best to renovate an entire room rather than updating partial features of the room; replacing kitchen tiles or moving appliances or painting the bedroom is less effective than introducing flooring, lighting, updating the kitchen with cabinets and counter tops etc. it will be budget friendly while increasing the value of the house simultaneously.
A well-priced home that shows well will sell in any market