Are you considering selling your home in Raleigh? If so, you might be thinking about making a few repairs and upgrades before you list it. Some changes can be lucrative, paying off in the long run. However, not all upgrades are created equal. We will let you know which upgrades to avoid!
Adding value to your property by updating and enhancing it is a surefire approach to attract more potential buyers. Many sellers, on the other hand, make the error of making too many upgrades or updating things that don’t add value to the home. Some people even make upgrades that push consumers away! Consider making only necessary repairs and upgrades that will pay for themselves by dramatically boosting the value of your house before you take a sledgehammer to the bathroom wall or go to Home Depot.
Don’t Add a Pool Unless YOU are Swimming In It
You will not be allowed to deduct the cost of a pool from the home’s previous worth. That isn’t how it works. We’ve seen folks spend over $50,000 on a new pool, only to be able to increase their asking price by a few thousand dollars. A pool will wind up costing you more than it provides value unless you plan on swimming in it for years to come. Point blank: A pool doesn’t provide returns.
Don’t Get So Personal
Avoid overly customized designs. This can include overly designed kitchens, baths, and anything else that you consider one of a kind. Consider toning down bold-colored rooms and creating environments that are a bit more neutral. A can of paint is a lot less expensive than a total room redo. And on that note…
Don’t Decide for Your Buyers
Don’t perform any repairs or upgrades unless they are absolutely necessary. Instead, give the buyer a credit so that they can have things done their way. When buyers have control over the home’s details, it can be a huge selling point. The thought of choosing their own countertops and lighting fixtures will appeal to people. Point Blank: Don’t make upgrades based on your own personal enjoyment or taste.
Leave the Basement Alone
Do you own a home with a partially finished basement? If this is the case… Leave it like that. The costs of finishing the basement are not worth the return. Furthermore, many buyers will repair certain areas on their own timetable. There’s no reason to renovate it now that you’re trying to sell it if you didn’t do it when you lived there. Point Blank: An unfinished basement is best left that way.
Make the Space Intentional
Keep the rooms in their original state. Is there a spare room? Keep it as a bedroom rather than an office. Allow potential purchasers to select how they will use the area. A room conversion will only lower the perceived value of the property. At the same budget, a 4-bedroom, 2-bathroom home will gain more traction than a 3-bedroom, 2-bathroom + den home. Also, a gym/office/library/breakfast nook can become confusing. Point blank: Plan your space with purpose.
What are the Neighbors Doing?
Take a look at other homes in your neighborhood and keep your upgrades somewhere in the middle. If you go too far with your add-ons, you will be targeting high-end buyers. And maybe your neighborhood isn’t known for that. In addition, you will alienate buyers who love your neighborhood but don’t want to pay the high price. Point blank: Keep your property competitive within your neighborhood, but don’t take it too far!