I am often asked to recommend home improvements that will result in a higher sales price or a faster sale. Let’s not get carried away. People who are planning on moving soon usually don’t need to make a lot of expensive home improvements.
It is possible to spend too much time and money selling a house. Sometimes sellers get carried away and spend money they won’t get back.
A complete remodel of the kitchen is a great example of spending too much money to sell a house. Homeowners who lower their asking price because the kitchen is dated end up with more money in their pockets because the immediate return on investment for a new kitchen isn’t 100% it is more like 75% depending upon the price range of the house and its location.
If the kitchen is damaged or unusable then it should be repaired or upgraded. Go ahead and replace twenty-year-old appliances with new appliances that are comparable. It is important to keep it in character and the price range of the house.
Fresh paint, a new backsplash, and some new lighting cost a lot less than a new kitchen and the return can be more than 100%. Landscaping is also a great but often overlooked investment.
Even during the current seller’s market pricing is important. A lower price list price can mean a higher sale price as the home sells faster with more offers.
If the goal is to live in the house for the next several years then remodeling the kitchen makes sense but if the goal is to sell the house now for top dollar make smaller less expensive improvements.
When getting a house ready to sell start with cleaning and decluttering. Removing excess furniture and stuff is what good staging is all about.
After that consider repainting rooms in lighter more neutral colors that will make rooms appear larger and cleaner. Replace bold and dark colors with shades of white, beige, and grey. Touch-up painted trim. The purple or dark green bathroom that the seller loves can be a minus in the eye of the buyer.
Make repairs where needed. In the eyes of a home buyer, needed repairs may look huge and expensive.
It is important to look at selling your house as a business transaction. It can be hard to be detached which is one of the reasons why people hire real estate agents.