It’s no secret that when selling a property, homeowners hope to get the most money possible to maximize their investment. However, there are many ways to go about this and not all of them are effective. Some renovations can backfire and result in the buyer getting less money than they would have if they hadn’t renovated at all. With that said, homeowners must know what changes to make to get a higher return on their investment. Taking these things into consideration, there are renovations that homeowners should undertake before listing a property.
Inspect your roof
Homeowners should inspect their roofs before they list. It is one of the first things potential buyers will ask about. If the seller is not aware of holes or that shingles need replacement, it can lead to problems. After all, as the team at techeroroofing.com says, a property without a roof is like an open box. Roofs normally last between 20-25 years but sometimes less, depending on material and installation. If you’re not sure of your roof’s age or condition, schedule an estimate with a roofing contractor.
Plumbing and wiring
Plumbing and wiring are the essential parts of a house that must be in good working order. This ensures safety for the occupants. Failing appliances can cause significant damage and injuries. In addition, any faulty wiring may start fires. Thus, it is useful to make sure everything is working properly before listing the property.
Inspect the foundation and structure
Having a secure foundation of a house is important for the current residents. Ignoring the signs that it is time to call the inspection can result in compromising the residents’ safety. In case you notice any small cracks on the walls you are not able to explain, make sure to call in a professional. Besides, a buyer will most likely ask to have a structural engineer inspect your home before purchasing. Therefore, it is important to do it first and also make any necessary repairs. In some cases, buyers may offer less money if they know there are structural problems that need repairs.
Renovate the interior
While some renovations can decrease how much a buyer will pay for your home, others can significantly increase it. One of these is renovating the interior decor to make it more modern and up-to-date. Studies suggest that a large percentage of millennial buyers want smart homes with updated appliances.
In addition, scrubbing the kitchen and bathrooms from top to bottom will leave a lasting impression on buyers. In general, this means removing existing appliances and updating them with new ones. Most potential homeowners want updated kitchens and baths that come with the property. Moreover, replacing old carpeting with laminate flooring is another renovation that can increase your property’s value.
Assess energy efficiency
Repairing or replacing anything to do with a roof, electrical system, or plumbing are investments you should not pass up. They will have a lasting effect on how much buyers are willing to pay for your home. However, even these renovations may not sway some buyers. Energy efficiency is something a smart buyer will be interested in. It will save them money in the long run. For example, energy-efficient appliances are cheaper to use even if they are slightly more expensive to replace.
Touch up the exterior
An amazing patio or yard is an excellent selling point. Thus, it is important to ensure that any repairs are made to the outside of your home before you place it on the market. Many people assume that things like landscaping are too costly, when in reality they are not. If your property doesn’t have a lawn, often found in urban areas, many flowers and plants can liven up the exterior.
One of the best ways to do this is by using large outdoor planter boxes. These can add vibrant colors and patterns to a concrete or asphalt lot. They also house several large plants that will draw attention from potential buyers!
Make sure it’s well-maintained and that there are no cracks or holes on the walls, roof, or porch. Even if buyers do not plan to move in immediately, they may want to put their touches on your delicate landscaping.
Give it some curb appeal
The more attractive your home looks on the outside, the more likely you are to get buyers interested in purchasing it. So why not improve how your property looks by giving it a fresh coat of paint? For example, dark colors are supposed to look more expensive whereas lighter ones are believed to be more welcoming. Meanwhile, some people believe color is everything when it comes to getting the most money for their property.
There are many things sellers should keep in mind before putting their home on the market, but renovating is one of the most important. The right renovations can increase how much a buyer is willing to pay for your property. However, the wrong ones can have the opposite effect. Make sure to take all of these factors into account when deciding which renovations to undertake.