Even in today’s heated real estate market, experts say that giving your house a facelift before listing it may help it sell for more money as long as you choose projects that give you the most bang for your buck.
With buyers racing to take advantage of cheap borrowing rates, a perfect combination of little availability and great demand has pushed house prices to new highs. According to the National Association of Realtors, the median existing-home selling price hit a high of $329,100 in March. This is up 17% over the previous year.
According to a 2019 poll by the online listing site Zillow, 23 percent of homeowners who undertook at least one repair project were able to sell their property for more than the asking price, compared to 17 percent of homeowners who did nothing.
You don’t have to spend a lot of money to make a difference in how well your property sells. A little amount of sprucing up may make a big difference. GreendayOnline will always be here to help you when you need money.
“Be the house where someone has spent a few thousand dollars to clean and beautify up,” says Rick Rudman, CEO of Curbio, a pre-sale home repair firm. “Multiple offers at or over list price” are standard for these houses.
According to Rudman, depending on the sort of modifications you perform, you may boost the asking price of your property by up to 20%.
You are not required to pay for repairs. Consider using a business-like Curbio, which works with realtors to implement suggested renovations before listing the house. Once the home is sold, all fees are covered. Several brokerages, including Keller Williams, Realogy, and Compass, also provide the service.
Seven tasks for home remodeling that are well worth the money
The National Association of Realtors released its 2021 Profile of Home Staging study, which details the sorts of property repair work most realtors suggest before placing a home on the market. The most popular home renovation tasks are listed below. When possible, we’ve also included the typical expenses for each project so you can decide if it’s worth it for you.
We’ve also included more cost-effective alternatives to complete bathroom and kitchen remodels, two popular home renovation projects that may help make your property more appealing to prospective buyers. According to HomeLight, a real estate agent recommendation service, these two projects are two of the most typical home renovation projects completed by homeowners that enhance value, despite not being included in the NAR study.
You can perform some of them yourself, but others are best left to the pros. You’ll be astonished at how minor improvements may boost your home’s value on the market.
Decluttering
The average cost is $450.
Buyers want to see their furnishings and dcor in a new area. Decluttering is reorganizing objects out of place and making the inside of the house seem tidy. It was endorsed by 93 percent of realtors polled by the National Association of Realtors (NAR), the highest percentage of any update.
“They don’t have a lot of personal belongings all over the place when you come into a model house,” says Julia Beals, a realtor with Remax Gold. “Things simply makes it seem more open and cleaner.”
While this is an activity you can undertake yourself, it may be time-consuming and difficult for some homeowners, especially if they have to make judgments concerning objects with personal significance, according to Rudman. It is pretty affordable and fast to have your house professionally decluttered.
According to Fixr, a website that gives pricing advice and comparisons for home repair jobs, professional decluttering costs $450 countrywide.
Intensive Cleaning
Costs range from $200 to $600 on average.
Eighty-five percent of realtors polled suggest a complete house cleaning, which Beals undertakes with her properties. It demonstrates that the owner was concerned enough about the property to maintain it tidy.
You could undoubtedly handle this job alone, but hiring a professional team isn’t that costly, and they’ll be able to do it quicker. If you have carpeting in your house, get it professionally cleaned since it may retain odors from pets and other sources.
According to Fixr, a professional, thorough clean costs $221, while a professional carpet cleaning, such as steam cleaning or shampooing, costs $600.
Rudman suggests removing the carpet if it is in poor condition or has been in the house for some years and replacing it with new carpeting or another form of flooring. According to Thumbtack, an online site that connects homeowners with local specialists, you may expect to spend anywhere from $400 to $6,000 or more, depending on the flooring material and the area covered.
Appeal to the public
Costs range from around $100 to $5,000 on average.
When it comes to generating an excellent first impression, the exterior of your house may be even more essential than the interior. A clean and well-kept surface inspires buyers to want to visit the remainder of the house, according to 78 percent of realtors.
Light landscaping, such as weeding and raking your front grass and planting fresh flowers or plants, will improve curb appeal. Painting your front door, repaving your driveway, and painting the outside of your house are all examples of external upgrades.
According to Fixr, the cost of enhancing your home’s outside appearance may range from $60 for a one-time visit from a lawn care specialist to $5,000 if you include repainting the faade.
Items that must be maintained regularly
Average Price: Vary
Before prospective buyers visit your property, things like loose doorknobs, damaged fixtures, blown-out light bulbs, and other basic maintenance jobs should be addressed. Sixty-nine percent of realtors polled advise making modest home repairs before advertising a house.
While these aren’t costly or difficult improvements, Rudman points out that they may indicate to a buyer stepping inside the house that there are additional concerns that aren’t visible.
According to Rudman, “it’s not simply the real bucks it’ll cost to repair it” for purchasers. “Subconsciously, you begin to suspect that the home may need extensive maintenance and repair work that has been neglected, and even if the expense isn’t prohibitive, the inconvenience is.”
Painting for the inside
Costs range from $200 to over $8,000 on average.
Interior painting, like exterior painting, can give your property a fresh appearance and feel, and 63 percent of realtors advocate it.
You should re-paint the room in any locations where the paint has been discolored or faded. If you need to repaint the whole home, stay away from strange hues. Use neutral colors such as white, grey, and beige (the same applies to outside painting). Although orange may be your favorite color, it may deter a prospective buyer.
According to Fixr, paint touch-ups may cost as low as $200, and a complete interior house paint makeover can cost as much as $8,700.
Refresh your bathroom
The average cost is $275.
You don’t have to undergo a complete bathroom makeover to increase your home’s chances of selling. Rudman claims that you may get away with conducting a refresh if the space is in good shape to begin with, and isn’t more than a half-century old.
Replacing a vanity, mirror, shower head, or faucet might be all it takes to give your bathroom a new look. A fresh coat of paint or new towel racks may help give the bathroom a unique appearance.
If your tub and shower combination looks a bit worn, consider reglazing them rather than replacing them entirely. Reglazing tile will give it a fresh appearance and transform the atmosphere of the space.
According to HomeGuide, a business that connects contractors and customers, simple bathroom refreshes may cost as low as $275, depending on what you opt to replace.
Refresh your kitchen
The average price is $1,200.
Consider painting your old cabinets and updating the hardware to give them a new appearance in the kitchen. If your countertops are old or somewhat damaged, you should replace them.
There’s no need to replace your appliances if they’re relatively recent and have excellent working order. If your devices are ancient or in terrible shape, you may return them with a stainless steel appliance set for a few thousand dollars.
You also don’t have to buy top-of-the-line appliances. Rudman advises allowing the new homeowner to do the luxury upgrades to their taste and timetable.
Lowes said a kitchen update would set you back roughly $1,200.