If you’re a homeowner getting your property prepped for the market, it’s only natural that you’d try to capitalize on current buyer trends and modernize your property so that it’s as appealing as possible. What upgrades are really worth your time and money? Don’t assume that buyers will offer more on your home just because you dropped serious money on a remodel; there are specific things that they value, and plenty that they won’t pay for. Here are my thoughts on five popular upgrades that sellers make:
Should you upgrade your kitchen? Absolutely. The kitchen is truly the centerpiece of the home. It’s the glue holding all of the other rooms together, and it’s where friends and families gather during holiday get-togethers. You could go through a complete kitchen remodel, but oftentimes that kind of overhaul isn’t necessary; updating countertops, backsplashes, and/or cabinets can make all the difference. Simply swapping out old appliances for the latest models can also change the whole feel of the room. No matter what you decide to do, it doesn’t have to break the bank.
Should you upgrade your bathrooms? Yes. Bathrooms are crucial investments because most of us start our days by getting ready in them. Throughout the day they serve their purpose, and at night they’re often the last rooms we use before heading to bed. You can change the flooring in the bathroom, as well as swap out the faucets and countertops. That being said, if your main issue with a dated bathroom is the countertops, consider reglazing them a different color before replacing them entirely.
Should you install solar panels? Depends. In theory, solar panels could add value to a home, but the fact that most panels are acquired through a lease is a tad problematic. Unless the solar panels that come equipped on a home are completely paid off, they may become a liability for the buyer. The amount a buyer will save on electricity is typically smaller than the solar panel payments that get transferred over from the seller upon closing. Therefore, if you’re a homeowner gearing up to sell and you’re thinking about adding panels to boost your home’s value, consider things from the buyer’s perspective: Panels can be more of a budget breaker than a boon.
Should you add epoxy flooring to the garage? Do it for you, not the buyers. A sleek epoxy floor is certainly nice to have, but a buyer is not going to pay $2,000 to $5,000 more for the home just because there’s epoxy in the garage—you just won’t see that investment returned in the sale. That being said, if you plan on living in the home for a decent while longer, then it’s a great way to boost the home’s aesthetic.
Should you add artificial turf? Pass on this; let the buyers do it themselves. We’ve seen more and more homes with artificial turf because people are busy and want low-maintenance yards. However, there’s a significant cost associated with adding turf, so if you’re not going to be in the home long enough to recoup the costs and enjoy the convenience of your yard, it may not make sense to do this.
If you’re considering doing any of these upgrades, we have a number of trusted vendors that we recommend to our clients and we’d be happy to get you in contact with them. Reach out by phone or email if you have any other real estate-related questions or comments. I look forward to hearing from you soon!