We know it’s not easy to sell your home with all the attachments you’ve created over the years. You want to be sure to find a buyer that will cherish it as you have and is ready to make their own memories in your place. Of course, something that will make the process a lot easier is achieving proper financial compensation ($’s) from the sale. There’s a lot riding on this sales process and the more value you can generate the better. Getting the dollar value for your home is the most important aspect of the sales process and the best way to achieve it is to have your home in tip-top shape before going to market. This means doing all the tasks you can, to fix up and renovate, provided these tasks makes sense in terms of generating value. Read more about What You Need to Consider When Renovating Your Home.
What’s the goal of renovating your home for a sale?
The ultimate goal of any renovation you proceed with on a home that you’re about to sell is to increase its value. Typically, that means renovations that solve a problem or upgrade the home while staying neutral so as to keep your home a blank slate for the next owner. Your home needs to feel fresh and up to date so that buyers can envisage moving their lives into it. Finding renovations a prospective buyer would like to do themselves and which you can finish in a cost-effective manner are key.
Let’s get started with five cost effective renovations to add value to your home.
Renovation Tip #1: Up your curb appeal with some simple landscaping
There is an undeniable importance when it comes to curb appeal, which is the first impression buyers get as they arrive to view your property. There’s a lot of stuff you can do to enhance this aspect of your property, and luckily, most of it is cheap and cost effective to carry out. Cut the lawn (seed it if required), plant native grasses, bushes shrubs or hedges (these can be used to hide unsightly vents or AC units) and find some rocks or boulders to add a natural beauty to your front yard. Make sure everything is cleaned up and looking neat. Do not leave clutter out on the yard to distract potential buyers.
Renovation Tip #2: It’s about the idea, not the cost
This is something that many sellers have trouble wrapping their heads around so let us explain. When it comes to renovations for the purpose of selling your home faster, sometimes being able to make a buyer connect with your property is the key to unlocking their wallet. For example, this means giving your kitchen a renovated look by putting down some cheap stick on vinyl tiles instead of paying up for the real thing because it lets buyers feel what the kitchen ‘could be’ without having to spend a fortune. This is especially relevant if the buyer is planning on doing their own renovation anyways. Remember, image counts for a lot and it’s always better to look good than looking shabby.
Renovation Tip #3: Make your foyer a perfect intro
Once buyers come through the front door, you need to wow them with a foyer that takes their breath away. Well, not actually, but your foyer should be at its best for sure. Get rid of dated light fixtures, stained carpets and used looking switches. Keep things simple by replacing the runner, add a sleek wall table for a light and a bowl for keys etc. making sure that everything is subtle yet inviting.
Renovation Tip #4: Give your home the feeling of continuity
You want buyers to focus on your homes positives and keep an open mind as they do so. Having a different style for every room can be confusing, disorienting and quite frankly, annoying. To stop the negativity, consider reducing the variety where you can. If you’re painting, choose a neutral color and use it (or a similar variant) throughout every room in the home. If only the bedroom is carpeted, consider ripping it up and replacing with area rugs to math the rest of your rooms. You can also use the same color wood stain throughout the home to provide a cost-effective method of promoting continuity throughout the home.
Renovation Tip #5: Don’t overlook the details
When we mention details, we mean things like light fixtures, door handles or faucet knobs and spouts. You don’t have to spend a fortune, but make sure that all the little pieces are modern and minimal to cater to your buyers’ sense of sight and touch at the same time. This is where your light switch or electrical outlet cases should also be replaced with something clean and not dirty or stained from time or usage.
If you’re feeling overwhelmed with all the possibilities and options of what you can do to add value to your home, don’t panic. There are a ton of resources online to help you out for free and your realtor will also be knowledgeable in this regard. At our brokerage, The Munir Group, we often advise our clients about updates they can make to their homes as we get them ready to sell their homes. We often also put our clients together with a professional home staging team regarding what renovations they should or shouldn’t make before listing on the market.