You may be in a position where you are thinking about selling your home. Maybe the kids have flown the nest, and you're looking for a smaller home to suit your size. Or you are looking for a larger home to fit the family. Maybe you want a dual residence to help your parents out or bring in extra income.
There are many reasons you may want to sell, and sometimes waiting for your home to gain enough value or waiting for the market to change to a seller's market again might not fit your circumstances.
Sometimes when you're attached to your home and have added updates to it over the years, you don't always see that it looks dated. Buyers come looking with fresh eyes and if a home looks tired and dated, they will either look elsewhere or offer you a lower price. Unless buyers are looking for a 'fixer-upper', they don't want big expenses after they buy.
Here are 3 ways you can add value to your home without doing a full home renovation.
1. Kitchens and Bathrooms
Anyone will tell you that the biggest rooms that will sell your home are your kitchen and bathrooms. The kitchen holds the most appliances, and if they are out of date, the prospective buyer isn't going to want to shell out thousands of dollars for appliances after they move in. Kitchen cabinets and countertops are the are the next biggest seller, with centre islands and fresh cabinets high on the 'must have' list.
Bathroom tiles and vanities are expected to be modern and stylish with updated faucets. Having a clean but outdated
1980's style bathroom will not cut it in today's market.
Surprisingly, your flooring which is everywhere, is a big seller. According to Money Magazine in the US, flooring can give you 147% return on your investment. Hardwood floors are very popular and necessary for many people with allergies. Selling your home with wood, laminate or luxury vinyl floors will beat carpet most days, and the look of natural wood is very attractive.
3. Energy Efficiency and Heating
Another surprising upgrade you will want to consider is your home heating and cooling efficiency. When was your furnace last updated? Buyers will ask the realtor this question, and they will also want to know when the windows were last replaced and how old the insulation is.
There are many other upgrades you can do to add value, like give your home a fresh coat of paint, replace the roof, repaint your front door, and give your garden a freshen up.
Many sellers opt to invest in all the shiny, pretty upgrades you can see on the surface when many times, the real value is unseen and a lot more valuable. A smart buyer will look under the surface for the real value of your home, and if it's lacking, they will move on.
If you are serious about getting top dollar for your home when it comes time to sell, consider investing and upgrading some essentials around your home.
Not sure what you should or shouldn't upgrade? Our team can help.
Our agents are experts at what adds value to a home and helps it sell. We also have an In-House Stager that can give recommendations for upgrades, paint colours, furniture placement and more.
Would you like to hear some suggestions about how you can prepare your home to get top dollar?
Click the button below to reach out to our team and we will gladly book a free, no obligation appointment to see your home and share some suggestions.
Do you have other questions about the buying, selling or financing process? We love to help!
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