On Real Estate & More – March 2024

WHETHER YOU’RE THINKING OF SELLING in the next six months or a few years down the road, remodeling with return on your investment in mind is a smart financial move. Few investments recoup more than 100% of their cost, but collectively, there are several inexpensive home improvements that can increase buyer interest and resale value. The following are my recommendations regarding what will deliver the best return for a relatively small amount of money.

Curb Appeal—The first thing buyers will see, both online and in person, is your home’s exterior. Whether they are viewing your exterior photos in an online listing, driving by, or seeing it in person, it is important that your home makes a good first impression.

  • Paint your front door—Painting your front door a complimentary color can have a substantial impact.
  • Paint your home’s exterior—Making the entire exterior pop with a new coat of paint can help, too (if your home has not been recently repainted) and update your house numbers.
  • Landscaping—Refresh your landscaping with colorful flowers or shrubs if it is in the winter season. It does not take much to add some interest to your yard to make it more appealing.

Home Interior:

New Interior Paint—Most homes have natural wear and tear, a few dings on the walls or nail holes where art used to hang. A new coat of paint gives your home a fresh updated look for buyers. Generally, going with neutral colors like shades of white, beige, taupe, and grays lead to a faster sale. Neutral colors are also more appealing to potential buyers because they want to add their personal touches when looking for a new place to call home. From a seller’s point of view, it can be risky having bright, bold paint colors because personal preference ranges from person to person.

New lighting—Good lighting is crucial to highlighting your home’s features, especially if your home doesn’t have a lot of natural light. Upgrading your lighting is easy and inexpensive, and it can make even small rooms feel larger. Consider adding LED bulbs and strategically adding mirrors can also bring more lighting into a room, which can be a bonus when you are staging your home.

Small bathroom updates—You do not need to rip out tile or add all new fixtures to give your bathroom an upgrade.

  • Swap outdated lighting—Replace the vanity lights for a more updated look.
  • Recaulk or reglaze the tub—This can be a more budget-friendly alternative to replacing an outdated tub entirely.
  • Replace Faucets—If your faucets are outdated, consider replacing them with a more modern version. Make sure they match or compliment other items in the bathroom.

Flooring—Replacing or refinishing flooring is another common task. Here are a few other improvements to consider:

  • Deep clean flooring—At a minimum, deep clean your existing flooring.
  • Correct flooring damage—Buff out or refinish hardwood flooring if there are visible scratches or stains.

Minimum Repairs: What to Repair Before Selling a House—Small repairs and maintenance are often needed to show buyers that you have taken good care of the home. These small efforts can make a big difference when it comes to how long it takes to sell your home and how much it sells for. And it can streamline the negotiation process since your buyer will not have to request as many repairs as a result of their inspection.

Consider tackling these projects before taking on bigger improvements:

  • Replace broken mechanicals, like your HVAC system or appliances.
  • Remove peeling wallpaper and repaint (or paint over).
  • Take care of weeds and overgrown landscaping.
  • Repair broken or leaky plumbing.
  • Replace cracked tiles.

If you are not sure what those must-do repairs are for your home, a pre-inspection from a home inspector can give you a good idea of the issues buyers are going to care about. Feel free to reach out if you have questions about what we would recommend for renovations on your home if you are considering putting your home on the market.