If you watch any of the home buying shows on T.V. you’ve probably noticed a common trait among the people house shopping. The eventual new homeowners often have their own grand plans for redesigning the home after they buy it. That brings up a legitimate question. What then, if anything, is worth the time and money for you as the seller to update? Here are the three areas we recommend looking at updating if you plan to sell your home for the best return on your investment.
1. The Exterior
The exterior of your home is the first thing every perspective homebuyer sees so its in your best interest to have it looking cleaner and brighter. It can also be an inexpensive investment on your part. Pressure wash or repaint the exterior, update or clean fixtures like lighting, add potted plants, clear out overgrown areas and rehang missing shutters. We’ve found that a fresh paint job not only helps curb appeal, also it always offers the highest return.
2. The Kitchen
The kitchen is the heart of a home for most people. It’s where we spend most of our time. While its true that this is an area a new home owner may want to put their own stamp, finding a home with a kitchen that is fairly up to date is an attractive feature. It’s one of the first things homebuyers look at.
The key to making improvements in this area of the home is to not overspend. Freshen up the space, but don’t go for the grand-daddy of all kitchens. Remember you aren’t living there anymore, so keep your budget within 10 to 20 percent of your home value. This is important because you don’t want to out-price your home’s local market.
3. The Bathroom
The bathroom is arguably one of the other spaces homebuyers look at closely. An outdated bathroom equates to a lot of remodeling work in the homebuyers mind. In some cases all you need to do to raise the appeal of your bathroom is adding a new shower head, faucet, lighting and toilet. Here again a fresh coat of paint goes a long way. Consider replacing your flooring and shower walls only if it really isn’t in good condition. Just like kitchen remodels, overspending will lead to diminished returns. While its an area Aim to keep your budget no more than $12 per square foot.
If you know you plan to put your house on the market within the next five years, then you can plan ahead to spread out these projects over a period of time. Styles tend to cycle out every five years. Remember that replacing carpet, changing flooring, adding wallpaper or changing paint colors, swapping out a light fixture or replacing cabinet fixtures are all items the home buyers are more willing to take on themselves — so put your money where it helps to sell your house for the best possible price.
Note: All the images in this blog are of a home ready for sale in Farragut’s Wentworth. View the full listing here: Sandringham Court, Knoxville.