Are you planning to sell your home? Do you know that a few repairs and fixtures can increase the value of your house? This article will share various tips to help you boost the value of your property.
Which repairs are necessary?
Before you think of upgrading your property, make sure that your home is safe for living. The buyer will appraise the house before purchasing it, and the appraiser will look at a few things. Appraisers want to ensure that the home meets the HUD’s minimum property standards. Security is going to be the first concern for any buyer and appraiser. You can hire an inspector to check the status of the roof and foundation. If everything is okay, we can proceed towards cosmetic fixtures.
1. Small Fixtures
Minor repairs or updates often bring you the highest ROI. If the beauty lies in detail, then you need to take another look at your property. Every home can benefit from small repairs or updates, so make a list of necessary repairs.
Outdated lighting, gold doorknobs, outdated or aged leaky faucets, small floor cracks, broken doorknobs, drywall damage, outdated electric plugs, old paint, and non-working lights are examples. Focus on the minor repairs, and you can give your home an entirely new look.
2. Improve the Landscaping
Overgrown grass and bushes give the impression that the owner doesn’t care about the property. Focus on the curb appeal. There are hundreds of ideas available online. You can take inspiration from Instagram or Pinterest and design the garden accordingly. The interesting part is that landscaping projects often have an ROI of close to 100%. That means you’ll be paid back, every dollar you invest in this project.
With every renovation project, it’s important not to overdo things. Landscaping projects have a high ROI, but that doesn’t mean, investing $20k will bring you $20k. Consider the architectural style of your property. Choose a simple design, assign a budget for this section and if possible, hire a professional to do this job.
3. Update the Bathroom
A dirty or outdated bath needs to be updated. Make sure that the bath sparkles like a new one. You don’t have to do a full remodel. A simple update could be as simple as painting the vanity. There are also epoxy based paint applications available for the vanity top/sink area. A new faucet and toilet seat does wonders as well.
Most importantly make sure its clean! Take a cleaning solution or mix vinegar & baking soda and apply the mixture on all faucets and pipes in the bath. Clean with water after 2-3 hours, and you’ll see the shining taps. Change the curtains. Reglaze the bathtub. Clean the entire area. Get the cupboards polished. Purchase tile stickers and have a pro apply them. Change the bulbs and re-paint the bath in a white shade.
If your budget allows, you can also try replacing the sink or toilet. However, the crucial part is to keep the place clean & spotless before any prospective buyer visits your house.
4. Kitchen Remodeling
A kitchen can be considered the ‘social media’ of your home. It is the central hub for most conversations. Most prospective buyers will look at the kitchen before any other room. An ugly & outdated kitchen can be a deal breaker.
Again, you don’t have to spend thousands of dollars, but minor changes can do wonder. Re-paint the areas in a neutral color. You can also paint one wall in contrasting color. If the cabinetry looks aged you might want to consider painting the cabinets as well as replacing the cabinets pulls and handles. Lately myself, I’ve been hiring a local cabinet maker to fabricate and replace the really outdated cabinet and vanity doors throughout the house with new modern looking shaker style doors. Clean or replace the faucets and consider changing the lights.
Completely de-clutter the kitchen. With time, we collect things that we don’t need. Unnecessary cutlery, crockery, cleaning items, and appliances can be the ‘clutter’ for the buyer. Take away the unnecessary things. When a buyer visits the kitchen, it should look clean and spacious.
5. Enhance the Curb Appeal
Ask any real estate expert, ‘how can I sell my house fast?’, and you’ll hear, ‘improve the curb appeal.’ Take a look at your property from outside. Do you think, your home will appeal to the prospective buyers? If not, what changes can you make?
We have already discussed landscaping. Consider painting the exterior of your home. Neutral shades are perfect. Paint the door in a contrasting color. Color the windows in a slightly different tone. If the walls are painted white, windows should be painted in a ‘light grey shade.’
Colorful plants, a new mailbox, new home numbers, an entryway, and hiding pipes & wiring can boost the curb appeal of your property.
6. Window and Blinds
I highly suggest that all the windows & class doors be thoroughly cleaned inside and out. This can be a big job so paying a local window cleaning to do this for you might be worth the expense. Third party window cleaners will usual include the cleaning of the window screens as well. Do your best to make sure the window blinds are in good clean appearance as well.
7. Invest in Quality Furniture
Staged homes sell faster and for more money. Staging is a must if you want to sell your home at a higher price. Cosmetic makeover helps you with that. You can also hire a professional but making minor changes yourself will help you increase the price of your home. If your home is fully furnished then skip the staging and make sure the furniture as well as the house is clean, free of pet or smoke odors, uncluttered and show ready.
8. Properly Price your Property
Many sellers are not sure how to price their property. There’s lots of money at stake here so I suggest hiring a professional appraiser to do a valuation on your house prior to placing it on the market. An appraiser that gets paid cash may do your appraisal for as little as $300-$400. This is money well spent because if you price it $5,000 below the appraised price you just left a lot of money on the table. A Realtor may or may not do proper valuation and therefore you might leave money on the table again by going with what a Realtor says. I myself use a licensed appraiser to value all my newly renovated/completed properties. This is helpful in many ways! Why? Because once buyers and the buyers Realtor and appraiser know your advertised selling price is backed by an appraisal it will be unlikely that either will challenge your price possibly saving you a lot of money and headaches.
9. Ubnderstanging your Market
Finally, I’d like to mention what it is that the majority of buyers within the median price range like to see. When I say “Majority” or “Medium” I’m referring the buyers that buying in the $150,000-$250,000 price range (obviously this depends on your part of the country). There are buyers in every price range but as the price range increases, the amount of buyers decreases… I think you get my point. When I buy houses for remodel and subsequent retail sale, I prefer to buy in the median price range because that’s where most of the buyers are and therefore it’s likely the house will sell fast and possibly with multiple offer.
10. Tips on What Buyers Like Today
Wood Flooring – More and more buyers despise carpeting these days. Wood flooring is preferred. Wood floors which can be either engineered hardwood or anything that looks like it such as laminate, vinyl plank or ceramic tile planks that look like wood. The more places you can install wood flooring the better. I install wood it throughout the house, even in the kitchen.
I will install carpeting only in the secondary bedrooms
Porcelain Tile – If there the design of the house calls for it I will install porcelain tile in the wet areas (kitchen, baths, utility). I’ll use the modern rectangular 12×24 tiles installed on a brick pattern or large 24×24” tiles installed on a diamond pattern.
Kitchen – I paint the cabinets a white. Whit is neutral and this is what people like today. I don’t paint the hinges, I replace them. Id the cabinets are severely damaged or significantly out date I either replace them or replace just the doors with shaker style doors and new pulls. I install 3cm granite, undermount 60/40 sink, new brushed-nickel pull-down faucet and finish it off with a subway tile backsplash that goes with the color scheme. Buyers today like stainless appliances as well. I install new brushed-nickel lighting to complete the kitchen.
Baths – The master bath is the most important. I install new porcelain shower surrounds with a frameless glass shower surround. I paint the vanity and install granite in the master as well. I always replace all the plumbing fixtures through the master with brushed-nickel replacements. The hall or guest baths I will install new porcelain surrounds on an as needed basis, but I will certainly paint each vanity and make sure the vanity tops are in pristine condition or replace them. New lighting and vanity faucets as well.
Paint – I apply a neutral light grey these days. I remove the popcorn ceilings and retexture the ceiling with any house priced over the $300,000 price point as well as paint the ceiling white. I like to keep everything as neutral as possible because once again “Neutral” appeals to the largest range of buyers. All trim and interior doors are painted satin white using oi-based paint. Oil based paint is more durable and best for trim and doors because those areas get receive the most punishment
Miscellaneous – Hardware, lighting, plumbing fixtures – All doorknobs, doorstops are replaced with new brushed-nickel. All lighting and facets are replaced with brushed nickel. I don’t use oil brushed bronze because it doesn’t appeal to all. Brushed nickel is neutral and appeals to a wider audience. I also thoroughly clean all windows and install new window blinds throughout.
Renovating a home for sale is often the best way to sell the house for a higher price. These simple tips can help you increase the value of your property.
For more information, you can reach out to Elvis Buys Houses. I have 10 years of experience and have refurbished a ton of houses over the years. I base my business on helping others!
Feel free to reach out by contacting me personally at 817-886-8295.
You can also visit my website at www.Elvisbuyshouses.com