Make sure you’re updating the right things to add value to your home.
Sellers need to know what adds value to their homes when it’s listed for sale and what doesn’t. Some sellers upgrade things that don’t need upgrading and waste their money.
Many people believe upgrading the electrical or plumbing will add value, but sadly they don’t. Improving these things is good for when you’re living in the house and want peace of mind that everything’s safe and working correctly. Buyers will simply notice the lights are on and turn on the faucets to ensure they work.
If the plumbing and electrical aren’t sound, that will come up during the inspection. Usually, the buyer will ask for a credit to repair them; a full update won’t be needed.
The most crucial parts of a property to enhance are those that the buyer can see visually such as the kitchen, bathrooms, walls, and garden. Buyers purchase on emotions, and they use their senses for that. If something under the house or in the attic is updated, it’s not going to immediately add value.
If you’re considering selling, I recommend painting, upgrading the kitchen cabinets and countertops, and redoing the bathroom; these things add instant value. Flipped homes have a ton of value because they’re completely redone on the inside, and buyers won’t have to fix anything right away.
Also, our market is on fire right now, despite the health crisis. Houses are selling with multiple offers, and interest rates are excellent. Contact us if you’re interested in buying because in this market especially, buyers need to know what they’re doing to get their offer accepted.
If you’re thinking about selling and want to know more about adding value or you have any questions, please give us a call, send an email, or leave a comment. We’re here to help.