Home Improvements that Are and Are Not Doing If You are Moving
Homeowners who are getting ready to put their house on the market often think that they need to make some improvements to their home in order for it to sell quickly, and for top dollar.
However, in many cases, while these changes might add perceived value to the current homeowner, prospective buyers are not always impressed with the new renovations. And if they aren’t impressed, they certainly aren’t going to pay for your sweat equity and monetary investment
Here are some home renovations
that are worth doing if you are planning on listing your home, as well as some
you may want to avoid.
Worth It : A Fresh Coat of Paint
Repainting your house in neutral colours is a great way to ensure that your home looks it’s very best once it hits the market. Neutral colours are generally the way to go when you are preparing to sell as it makes it easier for potential buyers viewing your home to see it as their own space.
Avoid: Overbuilding for
the Area
Some improvements and
additions will not add value if it causes the home to stand out. In other
words, if your latest upgrade idea will make your home appears as though it is
“too good for the neighborhood” you might want to reconsider. Think about it
this way: if the average home in the area is $400,000, potential buyers will
most likely not be willing to pay
$500,000 for yours – even if you’ve added a major addition. You could also look
at it this way: potential buyers aren’t likely to pay $100,000 more for your
house if simply because you have decided to add a major addition, because they
might not see the value. To put it simply – your house will seem overpriced for
your area, making it a tougher sell.
Worth It: New Garage Doors
Garage doors are one of the first things a buyer will see when they view your home, and updating them will increase the curb appeal of your home. In fact, according to bankrate.com new garage doors have a return at resale of 97.5%!
Avoid: New Carpeting
If you have hardwood under the existing carpet, remove the carpet and restore
the hardwood floors. Doing this will easily get you a better ROI than keeping
or replacing a carpet.
Worth It: Exterior Improvements
Making sure that your home looks fantastic from the outside is essential when
putting it on the market. After all, you only get to make a first impression
once. So, if improving the exterior of your home could mean love at first sight
for a prospective buyer invest in it. For example, if the exterior of your home
is outdated, it could be time to repaint it or replace that siding.
Avoid: Over-the-Top Landscaping
A lush, green lawn with nice landscaping is one thing, however, shaped bushes and ornate trellises are a completely different story. It is best to keep it simple with native plants, adding a little color so the new homeowners can see how good the yard can be by adding plants and bushes that fit their tastes.
If you’re considering a renovation and plan to stay for several years to enjoy it, that’s one thing. But, making home improvements to increase the likelihood that it will increase the value of your home is another. You are unlikely to recoup your investment and could actually hurt your home’s value to a prospective buyer.