If you considering selling your home, you might be thinking about making a few repairs and house renovations before you list the property. Some changes can be lucrative, paying off in the long run. However, when selling your home not all renovations are created equal. In this blog, I will provide you with some tips on getting your home ready to sell with the most effective strategies.
These days it’s easy to get excited about shows on Tv that show you how to update your home to attract more buyers. Although updating and beautifying your home to attract buyers is a sure-fire way to get more people in the door, many sellers make the mistake of making too many upgrades that do not increase the property and that can leave your pocket feeling a little empty. In some cases, people even make upgrades that end up turning off buyers for your home! Before you take a sledgehammer to the kitchen wall or make multiple trips to Builders Warehouse, consider repairs and renovations that will pay for themselves by substantially increasing your home’s value.
Don’t Get So Personal
Avoid the trap of renovating your house to your desires, what might be to your taste may not be to everyone else’s. This can include overly designed kitchens, baths, and anything else that you consider one of a kind. Consider toning down bold coloured rooms and creating environments that are a bit more neutral. A can of paint is a lot less expensive than a total room redo. Also…
Don’t Decide for Your Buyers
If there are obvious repairs or upgrades needed to your property, don’t make them. Instead, provide a credit to the buyer, so they can have things done the way they want. It can be a great incentive when buyers have the ability to decide on the details of the home they want to buy. People will be attracted to the idea of choosing their own countertops and lighting fixtures. And, if you are tempted to sell your home in the best condition possible don’t make upgrades based on your own personal enjoyment or taste.
Make the Space Intentional
Keep the rooms as they were intended. What if you have an extra bedroom? Keep it a bedroom, not an office. Let the prospective buyers decide how they want to use the space. A room conversion will only knock down the perceived value. A 4-bedroom, 2-bathroom home will get more traction than a 3-bedroom, 2-bathroom + cottage at the same price. Also, a gym/office/breakfast nook can become confusing.
Don’t Add a Pool if you Don’t Have One
Adding a pool to a home you about to sell does not increase the value of your home by the same amount. It doesn’t work that way. Spending 150k to add a new pool, only to be able to add a couple of thousand rands to their asking price will end up costing you more than it adds value.
What are the Neighbors Doing?
Take a look at other homes in your neighborhood and keep your upgrades somewhere in the middle when planning to sell your house. If you go too far with your add-ons, you will be targeting high-end buyers. And maybe your neighborhood isn’t known for that, which could mean spending more time on the market to find a buyer. In addition, you will alienate buyers who love your neighborhood but don’t want to pay the high price. Point blank: Keep your property competitive within your neighborhood, but don’t take it too far!
