Although it is often a good idea to renovate your home before you put it on the market, it is easy to spend too much money that you will never recoup. Like staging, the renovations you do should appeal to the broadest number of people, your personal taste not withstanding. If you were to renovate this season, for example, we would recommend that you use a white-on-white palate with some rustic-chic accents. Think white marble countertops with a reclaimed wood harvest table for the kitchen, etc. However, pre-sale renovations don’t always pay off and can often add to the already considerable stress of selling your home.
In this hot seller’s market, homeowners often assume that they will get out of their house exactly what they put into it and more. This is not always the case. It is possible to overpay for a renovation if you go too high-end.
Here’s where you should absolutely spend your money before you sell:
- Paint: Paint makes your whole house feel new and fresh. Make sure you keep the colours neutral and bright.
- Kitchen and Bathroom: Renovate the kitchen and bathroom but keep it cheap and cheerful. Update cabinet fronts and countertops. The most impactful way to spend your money is to get all new high-end appliances for the kitchen. Do this before anything else.
- Basement: Nothing sells a house like a finished basement. It doesn’t have to be fancy. Just dry and not too cold. Bonus points if there’s a bathroom down there too.
- Electrical: Replace all existing knob and tube (if there is any) and get shiny new light fixtures for the main floor.
- Windows. Old windows aren’t just a drain on heating resources. They are also often eyesores. New windows are expensive, but worth the money.
- Roof: Replacing a roof is a daunting proposition, especially to a buyer who would rather spend their money on the interior of the house. If the shingles needs to be replaced, get it done before you put your house on the market.
- Old water marks: Once water touches drywall the drywall never recovers. You’ve probably gotten used to the water mark on the ceiling from that time the tub overflowed five years ago. You know you don’t have plumbing issues, but your buyers don’t. Fix that old drywall and save yourself a lot of explaining.
Most importantly, your home should be liveable and fresh, it doesn’t have to be perfect. Buyers like the prospect of moving into a house and fixing it to their taste over time.
Contact us if you would like more information.