Home repair shows have been growing in popularity as you can see by multiple reality shows on TV sporting expensive, over the top upgrades. Although such upgrades can really wow home buyers, the question that matters most is whether these repairs and upgrades really are worth it? After all, no one wants to put in thousands of dollars into changing their home only to realize down the road that it only makes the house even less marketable to home buyers. This article will talk about which repairs and upgrades are worth it and which are not worth your time and money.
Bring your home up to excellent condition first.
Before you start thinking about your next upgrade project, think about what is keeping your home from being listed as excellent condition. Is your bathroom faucet leaking? Does the window on the top floor have a crack in it? Are their holes in the wall that need patching and stains on the roof that could be confused as water damage?
Homes in good condition will always fetch a greater price than homes that are sold as is. Moreover, sometimes all your home needs is to have minor repairs done and some good old fashioned scrubbing from top to bottom. Do not undervalue the importance of thorough cleaning and handyman help. Yes, it is not all that fun or that glamorous, but the greatest return for your money is a clean, neat home–not necessarily an upgraded one.
If you have lived in your home for several years, it is a good idea to pay for a home inspection. Home inspectors are professionals who will evaluate your home from basement to roof looking for repairs. This will help you know exactly what needs to be repairs, and you can show off the inspection report and the repairs to potential home buyers. These buyers will appreciate that you have taken the time to assess repairs and then fixed them to give the house a clean bill of health.
Check out the neighborhood first.
Before you start to make any upgrades make sure you look around at the other homes in your area. Make sure whatever upgrades you are planning will make sense for the area that you are in. You can even attend an open house, or speak with a real estate agent, to get an idea of what the other homes in your area are offering. Look at as many listings as possible in your area, for comparable homes, so you have the best idea what your buyers are going to be looking for.
Perhaps your home includes details that very few other homes in your neighborhood have and you can market this as a feature without any extra work. For example, if all the bathrooms sport linoleum while your home has stone tiling, this is definitely a feature. Perhaps during your search you realize your home is quite lacking in an area and you will need to add it in order to command the same price. For example, if your neighbors all have carports while you only have a driveway, you cannot expect the same price. Thus, upgrade and repair with the neighborhood in mind.
What rooms yield the greatest return on investment?
The rooms that are going to give you the highest return on investment are going to be the kitchen and bathroom. After you have cleaned the bathroom thoroughly you will want to think about upgrading the faucets, lighting fixtures, and maybe even the cabinet hardware.
Flooring is usually another good return on your investment. If you have carpet that is covering hardwood flooring you might want to think about pulling up the carpet because hardwood floors are trending in today’s market. Wallpaper is something else that is usually very particular to the homeowner so it is a good idea to pull it down and think about putting a fresh coat of neutral color paint up in its place.
Speak to your real estate agent about what is selling on the market and make sure you plan accordingly. Upgrades that are too personal, rather than popular, may leave you with an overpriced home that you cannot sell.