Selling your home is a nuanced and highly delicate process that requires careful planning and preparation in order to maximize your initial investment, produce the desired ROI from upgrades and renovations, and of course, maximize the value of your home in the eyes of interested homebuyers. Concretely, the way you upgrade certain features inside and outside of your home can have a profound influence on the price point interested buyers would be willing to settle on.
That said, there are certain repairs and upgrades that just aren’t worth it or cost too much to produce a positive ROI, and then there are those that can help you sell the property to the highest bidder. Here are the five repairs and upgrades you should definitely consider in order to achieve the latter.
Layer a fresh coat of paint
If you are looking for a relatively quick and inexpensive way to revitalize and rejuvenate the look and feel of your home, then the first thing you need to consider is repainting the interior and exterior. Always remember that first impressions matter most and that the prospective homebuyer will pay special attention to the paint job on the walls, especially as they are approaching the property.
Once inside, they will want to be greeted by a fresh, gleaming interior portrayed by the new paint job on every wall, as well as the ceilings. After all, it only takes a single dark spot on a beautiful white canvas or a peeled coat of paint on the ceiling to ruin the walk-through, and even reduce the value of the property in the eyes of potential buyers. You can also go with wallpapers if you want to bring interesting patterns into the mix, just make sure to replace them altogether, as no one appreciates the look of worn-out wall coverings.
Bring back the hardwood floors
Hardwood flooring is the epitome of class, elegance, and unimpeded comfort. While there are more contemporary flooring solutions nowadays that are easier to maintain on a daily basis, there is simply no replacing the luscious appeal of a timeless hardwood floor. So if the current carpeting is hiding an old hardwood floor underneath, it’s time to reveal it to the world.
Refurbishing and restoring an existing hardwood floor to its old shining glory is an affordable and easy project; one that will elevate the value of your home and appeal to every homebuyer. If you don’t have hardwood floors, though, you can consider installing engineered hardwood flooring that’s more affordable and easier to install. Most importantly, it bears the same aesthetic appeal as solid hardwood.
Upgrade the kitchen appliances
One of the most important areas all homebuyers will pay special attention to is the kitchen. There can be no room for mistake when presenting the kitchen to potential buyers, so you need to scrutinize every part of it do discover areas you can improve, repair and upgrade. Concretely, there can be no room for faulty, old, or broken appliances.
The appliances in your kitchen need to be optimized for water and energy conservation and combined with auxiliary features they need to portray a healthy setting that will inspire homebuyers to envision their future here. Most importantly, upgrading your appliances will allow you to increase the long-term value of your home, as contemporary units will have a longer lifecycle and improve the quality of life for the new residents. The new packages of Thermador appliances, for example, not only boast different advanced features for food preparation and conservation, but also lead the way in energy efficiency. What’s more, buying an appliance package is also more cost-effective than buying units separately.
Focus on passive conservation features
Speaking of conservation and quality of life, it’s important to understand that every homebuyer is looking to get the most bang for their buck. This means that they want to maximize their investment every step of the way, which is something they won’t be able to do if the home is a drain on financial resources.
If the monthly and annual expenses are too high, the homebuyer will be forced to look for a more economical option, so focus on introducing passive conservation features to keep them interested. Add insulation to the walls, floors, and the attic to prevent heat from escaping during winter and keep the interior cool during the summer. Consider introducing water-saving features in the bathroom as well, such as faucet aerators, a low-flow toilet, and a low-flow showerhead.
Give the exterior a thorough clean-up
On a final note, always remember that the homebuyer will form their first impression as soon as they lay their eyes on the property. This begs the need for you to tend to some thorough landscaping, and to tidy up the curb appeal of the property in general.
You can start by repairing the driveway and the walkway leading up to the front door. Repaint the fence and replace old hardware. You can also clear the lawn of wild bushes and shrubbery, and even plant a flower garden to enhance the aesthetic appeal of the exterior. This is an inexpensive way to increase the property’s value in the eyes of your visitors.
Selling a property for the desired profit is not something you can achieve without planning and preparation. More importantly, you need to reinvest in your home in order to boost its value and appeal to the affluent homebuyer. Tend to these repairs and upgrades, and you will have no problem selling the property to the highest bidder.