Damage/Repairs: First we walk through and point out areas that could be a potential flag for homebuyers. If you have water damage or water stains, that repair is a must (of course, we would disclose any problems to potential buyers, but let them know it's fixed). Same with sewage stains, electrical burns, mildew along shower stalls, blatant and missing shingles. Mice droppings (better find out where they are coming from and get them under control) It's better to catch those problems early on and disclose anything up front, then to have a buyer go under contract with you then pull out of the sale at inspection time, because there was "just too much to do".
Lighting Fixtures: An easy update that dresses up any space. You can actually create a focal point of a room by changing out an old, brass chandelier with a dressier, more updated light fixture. It can change the whole dynamic of a room!
Door knobs and handles: Once again, if you have old brass handles on your doors, it's a relatively easy fix to replace those with something more modern and attractive to today's buyers.
|This kitchen was upgraded easily by replacing old, yellowed |
appliances with a mid-grade, stainless appliance package
from Appliance Outlet. Viewers loved this home!
20 offers later, we had an offer for over 30K
more than asking price
Appliances: Many buyers look at appliances. . If you want top dollar for your home and you have the old coiled stovetop, or yellowed appliances, it's well worth the expenditure to upgrade those appliances. I believe a $2500 stainless appliance package could actually raise the value of your home by 10K...just in terms of overall show-a-bility.
Countertops: If you have old laminate, stained or cut countertops, it may be worth the investment to replace those with something a little more attractive. Im not saying you have to go for the full, granite installation (of course, depending on the price-range of your home)...there are plenty of less expensive countertop alternative (even a new laminate resembling a harder surface, can make your home appear much more valuable.
This bedroom was painted with a royal, vibrant
Floors: Obviously, if you have torn or stained carpet, this can have a dramatic impact on your pricing. This is a tricky one, simply because your taste in new carpeting may not appeal to buyers. First, I always recommend getting a professional clean with stain treatment, then finding replacement carpet that might serve as patching (this depends on many factors...how old the carpet is and how deeply it is stained and damaged). If wood floors have scratches or worn or sunstained spots, I first recommend an overall cleaning and scratchfiller treatments. Then take it to the next level if necessary.
De-Cluttering: Is HUGE for overall showability. Many time, I recommend to seller to get a storage unit to clear out crowded rooms. If there's too much furniture, buyers can't visualize the rooms with their own items.
Bathrooms: Again, lighting fixtures can really dress up a bathroom. If you have old lighting fixtures, it's worth it to replace them with a new fixture. Same with plumbing fixtures/faucets. The old plastic turnhandles for faucets are a turnoff. If you have an old plyboard cabinet, it can be worth it to go to Home Depot and pick up a new vanity (sometimes this is about $300-$600). You can buy these with the countertops and sink already installed. I just had an appraiser think that a master bath was fully remodeled. Sometimes, you can get away with "lipstick on a pig" and just paint those old cabinets to make them appear better (depending on your budget). Although, when I work with buyers, I do point this out to them, so it's not a top recommendation.
Outside: If your mulch has disintegrated or faded, get some new mulch. Clean up the bushes and the trees and pull your weeds! Planting flowers in pots and in flowerbeds really freshen the outside. Again, an easy fix that screams "Welcome!" to potential buyers.
Staging: I'm a strong believer in staging. This goes hand-in-hand with an overall de-clutter. Sometimes the way the furniture is arranged, the room appearance can be different (appearing larger, smaller, or awkward--so someone with visual senses and a little feng shui, can truly help a room appeal to buyers. Sometimes there are strange spaces within a home that need defined. By adding a couple of items to this space, we can spoon feed a buyer...teaching them what they can do with the space. Some creative thinking and brainstorming, along with the help of my professional stager, space is defined and presentable.
I've had several experiences where these few fixes have increased the showability of the homes, thus, increasing the value. It's hard to say the exact increase in value (because nobody will specifically say "I will pay this much without nice paint, but this much without). It's a psychological and, many times, a subconscious thing with buyers. But, I can tell you that if your home shows better, it can be marketed better. If it's marketed better, it attracts more attention. More attention means more people see it. The more people that see it, the higher the price its going to garner and the faster it's going to sell. Plain and simple.
The last thing you want is for your home to sit on the market for too long..., when you sit on the market for too long, buyers aren't willing to pay as much. Can you attribute the increase in value directly to your new appliances when you get bid upward by 10K, 20K, 30K? Possibly so or at least a portion of that. But, you're happy you replaced those appliances right? Because who knows where you would have been had you not done it (and I can tell you from my experience, you wouldn't have received as much).
I'm happy to come by for a walk-through of your home to let you know if there are items that could be upgraded/repaired and could could increase your value. Just give me a ring. It's a service I provide along with pricing recommendations and tips for a better sale. Many times I do these without any obligation for you to sell or list your home with me. However, I always welcome that opportunity. Take care!
In my next blog I'll address some items that cost a little bit more, but can be worth the time and effort.
The EK Collection of Equity Colorado
Realtor in the Denver Metro Area