With summer on its way out, the real estate market is heating back up. Fall could be the perfect time for you sell your current home and upgrade to something new. However, in order to maximize your asking price, a little work may be in order. While we can help you with any of your handyman needs, consider these concerns before starting your home improvement projects.
Where do I start?
Ideally, you want to begin by fixing any broken or worn elements around your house. If you know your roof needs to be replaced in 6 months, go ahead and get a quote from us today. If the HVAC system has been running funny, make an appointment to have it serviced! Definitely focus on the more visible defects, such as broken glass, cracks in the walls, peeling wallpaper, etc. If left unaddressed, these unknown expenses can take a big chunk out of your asking price.
Apart from scaring away potential buyers, these looming repairs are likely to lower your resale value. With too many projects on your list, you’re approaching the “as-is” territory reserved for fixer-uppers. Naturally, buyers are likely to subtract the assessed cost of any replacement, but you’re also going to have to compensate them for the hassle in some way. Take, for example, a new HVAC system. This can easily cost between $5,000 to $10,000 (or more), depending on the size of your home. However, you can expect a loss of $10,000 to $20,000 to compensate the buyers for their time. So, if you know what the issues are ahead of time, and you actually deal with them, you can save yourself thousands when it’s time to list your property.
Should I go high-end?
Well, that depends. What’s your price point? Are you in a higher-end neighborhood or more of a starter home? When you’re trying to decide, you may want to check out some comparable listings in the area. You can scope out their design choices and layouts to see how yours stacks up. If all of your neighbors have recently renovated kitchens, for example, you may want to focus your renovations there. Otherwise, your home’s value will decrease simply by comparison. Typically, bathrooms and kitchens have the best return on your investment, but what finishes you decide to go with will vary wildly. Just remember, when you’re renovating for resale, your design choices should be based on popularity and price—not your personal preferences.
What about staging?
Whether or not you decide to actually use a home staging service, you should still try to showcase your home’s best features before officially listing it. When potential buyers come through, they’ll take note of those less-than-perfect aspects you overlook every day. Worn carpet, scuffed hardwoods, dated paint or wallpaper, and overstuffed furniture can all actually detract from the beauty of your house. Fortunately, there are fairly easy fixes.
At KCCS Construction, we can help you with these little projects, like replacing floors, fixing railings, and changing the paint colors to nice neutral tones. After we’re through, try to declutter your home. Put away some of the excess that can cause rooms to appear disorganized and cramped. With key pieces of appropriately-sized furniture, you can make the space feel larger overall and really allow the recent work you’ve put into it shine. Before you jump back into the fall real estate market, let’s make sure your property is ready to go!