Almost anyone who’s ever sold a home has realized that it needs a few upgrades to get the best price. Some features are of questionable value, but others very clearly will pay for themselves through a better sale price.
Some options are better used years in advance of the sale, such as landscaping. There’s no doubt that mature trees and well-established shrubs, along with a healthy lawn, are major parts of great curb appeal to interested buyers.
But when the sale is coming quickly due to a job change or simply the desire to cash in during a strong market time, sellers should consider some quicker fixes that will rapidly increase value without taking lots of time to complete. Learning which ones will draw the interest of buyers and which will not move them is critical as you choose how to direct your renovation dollars.
Two of the most popular areas for upgrades are kitchens and bathrooms. Upgrades in bathroom and kitchen design have a big impact on buyers, making a great result for sellers, too. There are several reasons why these are the best focal points for investing in upgrades before placing a home on the market.
They’re Built To Update
The great thing about kitchens and baths is that their main features are modular and easy to replace. Indeed, they are designed to be replaced. Kitchen appliances unplug and roll out or slide out, quickly making a 1990’s cooking space into a modern one. Countertops pop free easily with a little bit of caulk removal and a few screws, and even the cabinets that they rest on are easy to replace.
Commodes, vanities, faucets, showerheads, and countless other fixtures throughout these two parts of the home are easy to switch out, especially for homeowners who want to do the work themselves for less money.
They Focus On Energy
The single largest variable cost associated with homeownership is utility cost. Insurance and taxes are fairly predictable, but we can really do a lot to keep the costs of electricity, gas, and water at bay.
Renovations help with that process. Buyers are looking for homes that use less water, heat that water more efficiently, and just make the best possible use of utilities. A dollar saved on utilities is a dollar extra they may be willing to pay.
Consider all the appliances in a home. Upgrade old refrigerators, freezers, and water heaters. The new models will provide EnergyStar feedback that will tell buyers plainly how their new home could save them money.
Buyers Prioritize Function
The things that homeowners actually use in other rooms are the things they bring themselves. We’re talking about furniture. Most homes are sold unfurnished, so living rooms and bedrooms are just empty spaces that can’t take a lot of renovation. Yes, painting and floor covering can be updated, but those are so individually determined that it’s pointless to replace those elements when the buyer is likely to prefer other colors or styles.
Functional spaces are different. We use refrigerators, sinks, showers, and so forth on a daily basis. Buyers know that, so they want to make sure that their new home is functional, comfortable, and practical. Yet upgrades are disruptive enough that they don’t always buy a home expecting to make immediate changes. They want to move in with these necessity rooms ready to use.
Renovating a home is a complicated process, and it’s even more difficult in the context of an impending placement on the market. An understanding of which renovations will pay you back most reliably will help you make the best decision before placing that sign in the yard.