Considering selling your home? What repairs, upgrades, remodels can produce value for your buyer?
When someone is considering selling their home, many things can come into play when deciding the best ways to prepare your home in the hopes of generating the highest purchase price from a buyer. Below is our advice in regards to repairs or upgrades when preparing to sell and whether any of these would return on your investment.
Our suggestion is to start with the least expensive options. Start by decluttering your home and make it look bigger. Buyers just want to be able to move in and live in their new home. Most buyers don’t want to do a lot of work and will work on negotiating your sale price down with anything that needs to be fixed. Fix windows whose seals may have failed, cabinet doors that aren’t looking straight, drawers that don’t open smoothly. These are simple things to fix. Change fixtures in the bathroom. If you’ve got a 40 year old fixture, update it. Buy new fixtures from Menards, Lowe’s, or Home Depot for every bathroom and replace them. People love them because they look new.
Start with color and paint and then repair everything. All the things you’ve been putting off getting fixed that don’t really affect the value of your home, WILL affect the value when you go to sell it. Buyers want everything perfect. Replace hinges so the cabinets work right, replace hardware so they look new. Don’t necessarily change your kitchen out as a “right off the bat” strategy.
Return on investment? With most remodels, expect to get back 50% to 75% in the short run. If you plan on staying in your home for another five years or so, it should be academic. You should get your money back.
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