Should I Upgrade My House Before Selling?

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Home Equity

Home EquityMaking the decision to sell your home can be a difficult one.  On top of this, you may be pondering whether it is a good idea to upgrade your house before listing it.  The answer to this question isn’t necessarily cut and dry.  So, to help you answer the question, we’ve come up with a list of determining factors that you may want to consider when coming up with your plan of attack.  Furthermore, if you do choose to upgrade, we’ve comprised a list of upgrades which are most likely to pay off in the end.

Your real estate agent can help you with research to determine the following questions:

  • How do other homes in your area compare to yours?

It’s important to be competitive, and the best way to do this is to make sure your home is up to par.  If most of the comparable homes on the market have hardwood floors, and yours still has worn or stained carpet, it may be a good idea to consider upgrading the flooring.

  • What is the current market?

Are homes selling quickly, and are they selling at or near the listing price? If the market is hot, sometimes it is easier to adjust the price a bit rather than completing a renovation.  Your agent will be able to help you decide.

  • What would an upgrade do for your listing price?

If a home is considered to be a “fixer-upper,” buyers will be expecting a bargain.  Certain upgrades can be worth the additional price you will get in the end.

  • How quickly do you need to sell?

Needing to sell quickly may give you the incentive to do everything you can to get the highest price possible in the least amount of time on the market.  Move-in-ready homes, typically, go quickly in a hot market.

Once you’ve done the research necessary and decided to upgrade, some improvements are worth more to buyers.  It’s important to spend your resources wisely.  So, let’s take a look at what may be the most desirable enhancements for your home.

  • The Kitchen

The kitchen is known to be the heart of the home, and it is, without a doubt, one of the best improvements you can make.  Creating a kitchen in which buyers can imagine themselves cooking an entertaining can go a long way!  Instead of doing a complete remodel, you’ll want to target items that need it most.  Appliances, countertops, or flooring are the issues to look at when doing a kitchen upgrade.

  • The Master Suite

Most buyers care more about the master bed and bath than secondary bedrooms and bathrooms.  Creating a room fit for a king could have buyers taking a second look.  New tile and spa-like features in the ensuite can, usually, be easily recouped.

  • Flooring

Worn and dated flooring is one of the first things that most buyers notice upon entering your home.  They immediately start deducting money from their would-be offer.  Most people see flooring as a big hassle and a large out-of-pocket expense.  This is one investment to consider if your flooring is less than attractive.

  • Curb Appeal

You may not think much of how the exterior of your home appears.  Little details can make a big difference here.  Upgrading landscaping and a fresh coat of trim paint are fairly easy and inexpensive.  This upgrade is one that will pay-off quickly.  The more inviting your home is from the outside, the more buyers will want to go inside and keep looking.

Going through with renovations and improvements is a big decision.  Taking the time to research the market in your neighborhood will help a great deal.  With help in making the best decisions in your real estate journey, contact the Scherer Team at 888-300-4431.

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