Upgrades to avoid before you sell
Updating and improving parts of your home will definitely make it stand out among others on the market. However, it is important to pick the right upgrades. Some homeowners go way over the top upgrading items that don’t necessarily increase the overall value of the property. Another problem is when the upgrades have a very polarizing style. There are even some upgrades that can end up turning buyers off! So, before taking out a sledgehammer and busting down walls, make sure to know what upgrades to avoid before you sell. From there, only make adjustments and repairs that will pay for themselves. You want to bring in items that will substantially increase the value of your home.
Check Out the Competition
You don’t need to make your house the nicest on the block. Your goal is to appeal to widest range of buyers necessary. See what your market demands. For instance, if you notice that every other house in the area has a fenced in back yard, then it is safe to assume that that is what buyers in the area are looking for. But if its not something that everyone has, you are better off not adding it. For example, paying to update your siding to look more modern when the rest of the block all share a similar style with each other, might not pay off.
Don’t Add a Pool
You will almost never get back the cost of what it takes to put in a pool. It is not uncommon for people to spend $50,000 or more to add a pool. When it comes times to sell, they are shocked that their home may only fetch $10,000 more than a similar home with no pool. Many people do not want a pool – families with young children or pets, those not wanting to deal with maintenance, or simply those that would rather have more yard space. At the end of the day, a pool is one of the worst things you can add in hopes of increasing your home’s value.
Avoid any designs that could be considered extreme or polarizing. It’s great if a particular set up worked well for your family, but that doesn’t mean it will work for every one. This would include overly designed kitchens, bathrooms or anywhere else you might consider one-of-a-kind. If you have any rooms that are painted in bold colors, a cheap fix is just to paint the room in a neutral tone. It is much easier for someone to imagine painting a room in their desired color if they see a blank canvas rather than a shocking, electric yellow monstrosity. You are trying to appeal to the widest range of buyers possible – not the one percent that has the same tastes as you.
Don’t Make Decisions for Your Buyers
This point goes hand in hand with the last point. Instead of going neutral though, some items should just be left as is. Especially when it comes to big projects or expensive items, this is very important. Bathroom/Kitchen renovations are some of the biggest problems. Most home buyers would rather spend the money themselves to get their dream room, rather than paying a premium for what you picked out.
Don’t Touch the Basement
Another big mistake many people make is finishing a basement just in hopes of increasing the home value – but you basically never get that money back. This is another area where it’s better for the home buyer to have options rather than be forced into something you chose. What you envision as a man cave is a kid’s play room for someone else.
Do Make the Space Intentional
Keep the rooms as they were intended. Don’t convert a spare bedroom into an office or split one big room into two smaller rooms. The first thing that most people see when they look at a home listing is the number of bedrooms and bathrooms. So, that extra office may actually turn people off rather than attracting more people.
Don’t Go All-Out
Take a look at other homes in your neighborhood and keep your upgrades somewhere in the middle. If you go too far with your add-ons, you will be targeting high-end buyers. Maybe your neighborhood isn’t known for that. In addition, you will alienate buyers who love your neighborhood but don’t want to pay the premium. Finally, more upgrades also mean more upkeep and maintenance – both time and money – and not everyone is looking for that.
What if You Don’t Have Time or Money for Upgrades?
While many sellers stress out and pay tens of thousands of dollars for upgrades and repairs, that isn’t the only option. If you need to move quickly and don’t have time to wait for renovations and upgrades or you simply would rather put your money into a new home, we can help. At Property Buyer Connect, we buy your home as-is. We give you a fair, cash offer for your home. If you don’t like our offer, you can simply say no – there is no obligation or fee. Contact us today if you want to sell your New Jersey or Philadelphia area home fast and as-is!