The thought of renovating your home knowing youre going to sell it can seem overwhelming. However, strategic renovations can help add value to your home and increase your overall return on investment. Renovations can be large or small, so it’s important to know which rooms to focus on in order to add value.
There are some inexpensive updates which can make all the difference in helping your home sell faster and allowing potential buyers to be able to envision themselves in the space. Those small upgrades are also affordable and easy to accomplish in a short amount of time, and will appeal to the highest amount of qualified buyers.
We’ve listed 5 ways to increase the value of your home.
1. Paint
Adding a fresh coat of paint can brighten up any room and bring it to a clean slate. It is often difficult for buyers to envision themselves living in a space where there are a lot of bold or unique color choices on the walls. It is recommended that you choose a neutral color that reflects light and make the space look brighter. Additionally, touching up the front door with a fresh coat of paint can improve curb appeal.
2. Power Wash
Power washing the driveway, siding, or any exterior structures such as patios and sheds can bring what was once new back to life. Nanaimo and on Vancouver Island has a moist climate which causes moss to grow and structures can become covered in dirt and mildew over time. Potential buyers will be impressed with a clean and refreshed exterior.
3. Landscaping
Plants, flowers and fresh bark mulch can add a bit of pizzazz and color to a yard, while removing weeds creates a clean look and makes the lawn look lush. Ensure the lawn is freshly mowed, hedges are trimmed and walkways are clear.
If you have time, you can paint flower pots to be the same color as the accent trim of a home and place them near the front door with some brightly colored plants to welcome potential buyers. Keep in mind that elaborate landscaping may deter buyers if they feel that they lack a “green thumb” or think that they will not have the time to maintain the Butchart Gardens backyard that you have invested immense time and money into.
4. Room renovations
When it comes to renovating particular rooms in a home, the two rooms that seem to garner the best rate of return include the kitchen and bathroom. A fresh coat of a neutral color on the interior walls can create a warm and inviting space. Some inexpensive updates to consider before selling might include painting old or tired kitchen cabinets, replacing dated light fixtures, replacing countertops, updating appliances, and even using energy efficient light bulbs to improve the lighting within the rooms. In a bathroom, changing out the plain shower head for a larger rain shower head can create a great first impression for buyers. It is important to ensure that your toilets, sinks and bathtubs/showers are spotless and any caulking is clean and not in disrepair.
5. Staging
Staging your home with simple décor can help buyers envision their furniture in a space. Remove clutter, personal effects, and go for a minimalistic approach to décor. When preparing to sell a home, it is a good idea to ask your agent about staging tips and renovation ideas that are specific to your home.
Our Layzell Dreger & Associates team is always happy to do a walk-through with clients and offer hints and suggestions that can save time and money when updating a home. Let us provide the experience and expertise that you need to successfully navigate this changing real estate market.
We look forward to speaking with you.