So you’ve decided to sell your house and you want to spruce it up a bit before placing it on the market to increase your chances of getting a better price per square foot…but you aren’t sure what to spend your money on. The first thing to keep in mind is that not all renovations are created equally. The key to a smart renovation is to focus on things that will be important to your potential buyers.
You’ve probably heard the saying, “You don’t want to have the nicest house on the block” … but on the other hand, you DO want to catch the prospective buyer’s eye, without breaking the bank. So to do this you want to find your house’s “Sweet Spot” (in regard to price per square foot), which will take help from your Realtor. Knowing what houses are going for in your area will help you decide what you should realistically spend on renovations, which will in turn help you avoid spending more than you will be able to recoup when you sell your home.
So you’ve figured out how much you want to spend…now that we know that… what renovation should you spend it on? Home renovation is about return on investment, and it has been proven that there are a few places that are sure fire SMART places to spend your money:
- 1st Impressions Matter…Get Them in the Door with an Outside Makeover – Improve the landscaping, clean up what you already have, re-seed (a fraction of the cost of sod), place potted plants next to the front door, etc.
- A Warm Welcome – Replace, re-paint, or re-stain the front door
- Top to Bottom Makeover – Give your home a fresh coat of paint – Remember, keep it neutral! Your daughter may LOVE the purple princess room you gave her, but it may be hard for your prospective buyer with four boys to picture their family living there
- Out with the Old, in with the New – Change and Update lighting and plumbing fixtures
- Do You Have a Little More to Spend? – If you have access to a little more for renovations, the kitchen will give you the most return on investment. Just be careful to do your research and remember not to over-personalize your choices. It is also important to remember that new home owners will be interested in functionality and efficiency, so planning with this in mind will be helpful
Hopefully these tips will aid you on your renovation journey…Be sure to reach out to us when you get ready to begin, and we can help you figure out what your “Sweet Spot” is for your house. That’s what we do… and we’d love to help!