The housing market is still in a slump but that doesn’t mean that you can’t improve your home’s value in the meantime, but what’s the best way to spruce up your home? Consumer Reports conducted a survey with 300 real estate professionals inquiring about the most advantageous (and economical) home upgrades people can do to increase the value of their house.
- Kitchen: One of the biggest selling features in a house is the kitchen. It’s where people congregate and spend the majority of time. You don’t have to renovate per se, focus more on upgrading and you’ll save yourself a bunch of cash. For instance, instead of gutting your kitchen focus on cosmetic things like light fixtures, cabinetry hardware, new appliances and leaky faucets.
- Bathrooms: Similarly, bathrooms have huge selling power too. According to Consumer Reports, updating your bathroom with small things like new knobs, flooring and a toilet can increase your home’s asking price by $4,000-6,000. Since bathrooms are smaller in size, you can use higher quality materials and really enhance the space.
- Clean: Sounds like a simple idea, but you’d be surprised how quickly clutter, dust and odd smells can deter potential buyers. You can even hire professional organizers to help you de-clutter before you put your house on the market.
- Paint: You don’t have to go crazy and paint each room a different colour; it’s more important that you do touch-ups and paint scuffed baseboards, windowsills, etc. If you do paint entire rooms, stick to neutral colours that cater to the masses. Also, painting the front door can really boost your curb appeal.
- Take Pictures: Consumer Reports found that 90% of potential buyers are looking at your house online and pictures are far more persuasive than descriptions. Make sure you’re not using a cell phone camera either! Pictures should be taken with a high quality camera and lots of natural light. Even if it takes you a few days to capture the right pictures, it’s worth it.
- Tidy the Exterior: You don’t want the first thing potential buyers to see is cracked siding, rotting wood or an overgrown yard. Start small with power washing the exterior of your home, clean up the landscaping and repair damaged siding. Small fixes will go a long way in selling your house.
- Basic Maintenance: Before you put your house on the market, it’s smart to inspect all the basic systems in your home. Check the furnace; inspect the roof and rain gutters, storm windows and plumbing. This will save you time and headaches down the road.
A good rule of thumb before selling your house is to repair everything that actually needs repair. Then you can make small and inexpensive upgrades as time and money allows.
As always if you need any help or advice give me a call at 403.648.1541