Homeowners are sometimes reluctant to invest money when putting their homes on the market. Sooner or later, they’ll be moving out anyway and extensive renovations often only increase home value by a fraction of the project’s costs.
So why bother?
It’s simple: doing nothing could cost you far more in the long run than the small amount you’ll spend doing simple home improvement and prep projects. It could mean the difference between multiple offers that increase the selling price, and a home that stagnates on the market while you continue to pay mortgage and utility costs.
To maximize your selling and renovation budget, pay attention to features that will make your house more attractive to today’s potential home buyers:
7 Simple Investments That Attract Home Buyers
Add new “jewelry” to important rooms.
Bathrooms and kitchens are the most expensive rooms to remodel, but a full-scale renovation isn’t always necessary to show a home in its best light. Less expensive updates, like replacing cabinet hardware, faucets, or lighting or adding a fresh coat of neutral paint, go a long way toward creating spaces that feel modern and clean.
Many of today’s homebuyers prefer open floor plans, a feature that’s especially hard to come by in older homes. Before putting your home on the market, reduce the amount of furniture in your house. Put it in the garage or off-site storage, take it to a friend’s house, or sometimes you can just move it to another room. Create an open flow between rooms and the feel of more open space in the home.
Ample daylight is highly desirable among most home buyers. Remove heavy curtains or draperies. Trim shrubbery or trees that may be blocking light. Move furniture away from windows to let the sunlight in.
Update technology and energy efficiency features.
Today’s buyers are growing to expect app-driven technology and energy efficiency in their homes. Adding features like a smart thermostat, USB charging ports, LED lights, ceiling fans, or security systems that can be operated from a smartphone are small investments that may give you an edge as a seller.
Create a home office.
Telecommuting is still on the rise, especially in suburban communities, making a dedicated home office space essential for many buyers. Consider turning a fourth bedroom into an office or use a small desk, lamp, and chair to create the feeling of separate space in a larger room.
Use professional photos.
According to the National Association of Realtors, more than 90% of all home buyers begin their home search on the Internet. A fantastic online photo presentation is essential to bringing those buyers to your front door. Photos should be plentiful, well-lit, and ideally, shot by a professional real estate photographer with a wide-angle lens.
Most importantly, declutter and clean up before the photographer gets there! I dare you to go online right now and see how many listing photos you can find with piles of toys, fast food bags scattered on kitchen counters, and toiletries strewn across bathroom sinks and showers. There’s nothing worse than multiple photos of badly staged rooms, and sellers who do this are leaving money on the table.
Don’t underestimate the influence of HGTV and Pinterest on your potential buyers. Home decor-related websites and tv shows permeate the market, and today’s home buyers want the current trends. Sometimes even small changes, like adding a few modern accessories, can help your home appear more contemporary and up-to-date. Getting feedback from a professionally certified home stager can reap huge benefits in terms of learning the best (and worst) ROI updates and additions you can make to your particular home.
Do you have suggestions for budget-friendly renovations that home buyers love? Comment below!
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