Five tips for updating your home without breaking the bank when selling
You are thinking of selling your home or cottage – and what a perfect time it is to sell! Inventory levels are low, and there are more buyers than sellers in this current market. You could just list your home, making no improvements and waiting … and waiting….and waiting for offers.
OR you could decide to make some improvements that won’t break the bank but will ensure that you don’t leave money on the table when you sell. Improvements should be done with an eye on ROI (Return on Investment) regardless of the current real estate market.
Renovations are an affordable way to boost the value of your home or cottage. We are not talking about renos that will break the bank, but simple improvements that will allow you to achieve a greater return when selling.
Here are my top five affordable ways to make your cottage or home more appealing to a buyer.
1. Whole-home freshen up
Paint can make a remarkable difference! On the interior, it covers, freshens, and makes everything look new. Paint is among the least expensive of the renovation tools but makes one of the most significant differences. Talk to your Realtor® or your decorator to choose paint colours for the interior. Everything should be cohesive from room to room – different grades and shades, but the theme should remain consistent. If an older cottage or home, exterior painting is advised, bringing the exterior to today’s look with a current in-style exterior colour.
Flooring is a must. Today’s buyers want hard surface flooring. The flooring should be consistent throughout all rooms on a level – (main, upper, lower). Hardwood and engineered hardwood remain the number one choice with buyers, followed by luxury vinyl planks (faux wood and faux tile) followed by high-quality laminate and then good quality carpet.
Now we have updated the flooring and painted the house ….are we ready? Almost – but let’s look at a few more small things that will make a big difference.
3. Top of the Buyer’s List
Kitchens and bathrooms are at the top of the critical list for buyers. But that doesn’t mean you need to gut the entire space and start from the studs. Instead, a few upgrades will make a world of difference – think of it as a minor remodel. Modernize and update by adding quartz or granite counters, change out the appliances for stainless steel, if your cupboards are in good shape, then change out the knobs and hardware, modernize with new lighting fixtures and maybe a new modern backsplash. Give the bathrooms the same updates with modern faucets, a new rain shower head, updated lighting and modern mirrors.
Update those dated light fixtures with what’s new and current. Add distinctive features that will give a bit of flair to your space. While you are replacing the fixtures, be sure to replace the cover plates as well.
In any language, a lovely exterior front entrance says Welcome to My Home. First impressions are lasting ones. Buyers should smile as they pull into your driveway and see your front door. A freshly painted door, seasonal urn, welcome mat, a Muskoka chair… invite and welcome buyers to view (and purchase) your home.