Wondering if you should do any renovations prior to putting your home on the market? Many sellers do.The big concern I hear from sellers is that the new buyer will “want to decorate it to their own tastes” and so anything the sellers do will be changed anyway and therefore a waste of money. Well, yes and no.
Most buyers prefer to be able to move in to a home and live in it as is until they can afford to do renovations that may be more in keeping with their tastes or today’s interior design styles. Remember, buying a home itself is a major financial investment and buyers may not have money left over to do home renovations. A home that needs new flooring, new paint, updating in the kitchen and bathrooms, a new roof, the list goes on … will daunt many a buyer. Furthermore, buyers typically overestimate and sellers underestimate the cost of renovations. As a result, even when the buyer can see beyond the many updates needed they may want to take more off of the listing price than the seller feels is warranted making a deal difficult to negotiate.
There are certain renovations homeowners can do that have a big impact on how well the house shows and the price the home will sell for. The quickest, least expensive, and easiest thing a homeowner can do is paint the interior walls. If you can’t afford to paint the whole house, just do the main living areas. When choosing a colour, pick something neutral. Don’t worry about it being boring. People can always add colour but that shade of green you adore may turn off a lot of potential buyers.
If you have dated cabinets in your bathrooms and kitchen, consider painting them and adding new handles. Again, this can have a major, and positive, impact on how well your house shows and therefore the price for which it sells.
If your exterior looks very shabby, you should consider repainting it as well. Yes, it is not likely to be inexpensive but the first thing buyers see when they look at your house is the exterior. A house lacking in street appeal fails to get buyers in the door. A house with peeling, faded paint does not have street appeal.
Another good investment is a flooring upgrade – especially in main living areas. When considering new flooring be sure to have it properly installed. There is not much worse than listening to “Snap, Crackle, and Pop” as you walk around a room.
One investment I would strongly suggest homeowners not make is granite countertops on old cabinets. This is typically viewed by buyers as a waste of money. Buyers will usually want to replace the old cabinets and the granite is unlikely to be usable. If your countertops are in rough shape or are an unatttractive colour but you won’t be replacing the cabinets, go for an attractive laminate instead.
If you would like more ideas on how to prepare your home for resale I would be happy to look at your home with you and make some suggestions. You want to ensure that any renovations you do provide a good return on the investment and I would be happy to help you in that regard.