Deciding whether to update your home before selling can be tricky. The right improvements can boost your home’s value and attract more buyers. But not all updates offer a good return on investment (ROI). At Hanson’s, we’ve helped sellers market their homes for many years and have gathered valuable insights on home updates before listing your home for sale. We wanted to give you this guide to help you make informed decisions about which updates to tackle and which to avoid. If you have specific questions about home updates, feel free to give us a call. We are always happy to share ideas.
Which Updates Have the Best Return on Investment (ROI)
Kitchen Remodel: The kitchen is often the heart of the home. Buyers love modern, functional kitchens. An updated kitchen can significantly increase your home’s appeal and value without breaking the bank. Think new countertops, replacing or refacing cabinets, updating fixtures, and new appliances. Updated lighting can also add to a fresh kitchen update.
Bathroom Remodel: Bathrooms are another high-impact area. Simple changes like new faucets, paint, updated lighting, and fresh grout can make a big difference.
Curb Appeal: First impressions matter. A welcoming exterior can draw buyers in. Updating your landscaping with fresh plants, exterior paint, mulch, and a neat and tidy yard can set your home apart.
Painting: Updating your home with a fresh coat of paint can make a big difference in a buyer’s perception of your home. Be sure to use neutral colors to appeal to a broader audience.
Flooring: If your flooring is looking worn or dated, it might be time to update it. Updated flooring adds to your home’s warmth and elegance. Depending on your home’s decor, you can decide which flooring will give your home a lasting impression, whether carpet, modern vinyl products, or hardwood.
Basic Repairs: Look at obvious repair issues in your home as an updating priority. Ceiling and wall damage, plumbing leaks, broken fixtures, and broken walkways can be deal breakers for house hunters but are often easily repaired.
Home Updates That Might Not Help Your Home’s Value
Expensive Luxury Upgrades: Overly customized or luxury features might not appeal to everyone. You might end up spending more than is needed and not get a good payback. For example, you can spend $1,000 on a new kitchen range or $5,000. Often, the $1,000 range is the better call. Keep your upgrades functional and appealing to a wide audience.
Home Office Remodel: Not all buyers need a home office. Stick with versatile spaces that buyers can imagine using in their preferred way.
Extensive Home Remodeling: Taking out walls, adding sunrooms, or other major remodeling may not give you a positive return on investment. These high-cost upgrades are often not essential to potential home buyers and can cause significant disruption.
Expensive Landscaping: Updating the landscaping can be appealing, but over-the-top features can be a turn-off. Focus on achieving a clean and neat landscape and perhaps leave the koi pond out.
Tips for Maximizing Your Home Updates Return on Investment
Focus on Low-Cost, High-Impact Improvements: Small changes can make a big difference. Fresh paint, clean landscaping, and updated fixtures can enhance your home’s appeal without a significant investment.
Avoid Over-Personalization: Keep updates neutral and classic. Bold, personalized choices might not resonate with all buyers. Neutral tones and styles appeal to a broader audience.
Make an Update List and Get Going: Look at your home updates as an excellent investment in your home’s value. Updates can take time, so don’t procrastinate. Getting more updates done earlier reduces the stress of selling and lets you enjoy your efforts.
Visit with a Hanson Sales Team Member: We are happy to give you our thoughts on your updating and preparation plan, even if you have limited or no upgrade budget. We can provide valuable insights into local market trends and recommend specific updates to boost your home’s value in your area.