If you’re thinking of making a few minor improvements to your home before you list it, you should avoid over-improvements. Home improvements that are over-improved will only get you your money back if you decide to sell.
You can identify over-improvements by looking around at your neighborhood and making renovations in line with other homes. Installing a swimming pool in an area where there are none is a great example of over-improvement. This will have a negative ROI.
Continue reading to find out how to make your home more attractive to the neighborhood and to you, while also bringing it up to standard.
Look at Your Neighborhood
Spending time and money to make expensive improvements will not pay off unless the majority of homes in your neighborhood have luxurious interiors or exterior gardens. This may make it harder to sell.
Why? You’ll be spending money on upgrades, which you’ll want to recoup when you close, but if they put your home at a higher price than the neighboring houses, it will make it difficult for you to collect.
Your home will eventually sell at a similar price to other homes in the area.
Focus on Affordable Fixes
Instead of a large project that might or might not pay off, consider some of these affordable, simple fixes. These worthwhile projects, according to the DIY Network’s pros, will increase the value of your house.
Replace old, clogged or leaking pipes and faucets to refresh your plumbing
Fixing small problems that could become major ones later on will make the walk-through more enjoyable and show prospective buyers that you care about your home.
Cleaning or adding fresh grout around sinks, tubs, fixtures, and tiled areas
This will instantly make your room look newer and cleaner.
Re-seal Windows and Doors as well as Baseboards
These updates can help you save money on energy. Save your energy bills as proof.
Insulate attic spaces with new insulation
You can turn the extra space you have into useful storage. You should also track your energy costs and share any savings you make with potential buyers.
Replace non-working lighting, electrical outlets, food disposals and ceiling fans
When potential buyers walk through your house, they will check all the items. Check that they are working! To save more money, check out your local home improvement stores for discounted fixtures.
Restore Wall Holes and Remove Wallpaper in Each Room. Give each room a fresh coat of paint
You’ll appeal to more buyers if you make your space neutral. You don’t have to paint your walls white — you can use beige, gray or tan, as well as other earthy colors.
Fix any broken door locks and fix any sticking or latching issues
Do you remember that door in your hallway that makes you crazy? Fix the problem in ten minutes.
Countertops that are damaged, chipped or scratched can be replaced or refreshed
In poor condition, countertops can turn off potential buyers. You don’t need to spend a lot of money to replace them.
These simple projects will improve the look and function of your home without costing you a fortune. It may be tempting for you to upgrade your sinks, floors, tubs, cabinets or living space. However, this is not a wise investment unless it’s absolutely necessary.
Quick External Improvements
Your landscaping is the first thing potential buyers see when they visit your home. A sprinkler system, an outdoor pool, a deck or ornate lawn decorations are not likely to work in your favour. Keep your outdoor area clean and simple to impress buyers and appraisers.
These are simple, inexpensive fixes that don’t run the risk of being over-improvements.
- Replacement of broken windows
- Retouch any paint that has peeled off
- Invest in roof or gutter repairs
- Caulk the foundation of your house
- Get rid of any unwanted items or ‘junk’ that may be lying around the yard
- Clean any patios, decks, fountains or patios thoroughly
- Keep your lawn well-groomed
- Sprinkler heads can be repaired if they are broken.
- Repaint or replace the front door
- Repaint or replace an old mailbox
- Power wash your driveway and siding
- Add some seasonal flowers to your yard
For the best use of your budget for home improvements before selling, review all your options and make a list with your “want to do” improvements. Then, prioritize your projects. Prioritize your projects by placing the most important improvements on top and the less essential or impactful ones at the bottom.
Get at least three estimates before you sign an agreement if you plan to hire a professional expert in home renovation.
Not sure what to fix? Ask a Real Estate Professional
We recommend that you hire a local, good realtor to guide you if you are unsure what repairs you should or shouldn’t do. A real estate agent can tell you which repairs are expected by buyers in your area and which ones they will ignore. If there are many buyers in your area using USDA, FHA, or VA loans, then your home may need to be repaired or it will not pass inspection.
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