When people begin considering selling their home in Edina and surrounding suburbs, upgrades can be a first step to consider. However This can be overwhelming for some when you really start thinking about all the options. You don’t want to do too much, nor do you want improve the wrong items and miss out on your return on investment.
We have put together our list: of 3 upgrades to invest in and 3 to forget about.
3 Upgrades To Invest In:
A fresh coat of paint can do wonders! It can easily brighten up and revive a room and entire house for that matter. Painting can be one of your biggest bang for your buck. Stick with neutral colors, but add in artwork or staging items like colorful throw pillows to make things pop.
Plus a fresh coat of paint will cover and dings in the wall, nail holes, etc.
Do: A Kitchen & Bath Facelift
Your kitchen and baths are considered two of the most impactful areas to do upgrades. Many think it will cost a fortune to upgrade these areas, and it can. However, there are ways to minimize the cost and get you a new look without spending tens of thousands.
New faucets, drawer pulls and painting or resurfacing your cabinets are affordable ways to revitalize the space, especially if you do this yourself. Now, if you are not handy, we don’t recommend painting your cabinets yourself. It’s best to do it right. There are paint kits at places like Home Depot that make painting or refinishing your cabinets pretty easy.
You can also look at giving your appliances a new look. Some appliance manufacturers sell new and alternate colored faceplates.
For example, swapping out the front of your dishwasher to match the other appliances is a great way to save money and tie things together.
You can apply some of these updates to your bathroom as well. Vinyl tiles can go on the floor, right over what you currently have. Do a deep cleaning of the grout, and re-grout if needed. Also, replacing light fixtures can give a bathroom a nice updated look.
Fix any cracked tiles or broken hardware. (Wobbly towel racks, etc.) Another option to a complete shower renovation is to install a pre-fab cover. This is much cheaper than doing a whole shower overhaul.
Putting fresh mulch or rock around your house can add great curb appeal. Also, planting some flowers out front or putting up flower boxes under the windows can add some nice vibe. If your yard has some bare spots, apply fast spreading ground cover will give your home instant curb appeal. If needed, have trees and bushes trimmed and keep the lawn mowed nicely.
Depending on your climate, you can plant succulents or lay down pretty rocks to keep the space well maintained, but low-maintenance.
Maybe throw a fresh coat of paint on the mailbox or hang up a bird feeder and some hanging plants. Small touches and a well-groomed yard will draw anyone in.
Don’t forget to add new garage door hardware and front door hardware too!
3 To Forget About:
Don’t: Finish The Basement
This can turn into a major project that can be both expensive and time-consuming. The numbers show you won’t end up getting back anywhere close to what you put into it, especially if hire it out.
Overall, most homebuyers will want to fix up the space to their taste anyhow. Maybe they want an open game room, or to add a couple of extra bedrooms.
Having an unfinished basement could appeal to a buyer.When pricing the home, account for the unfinished space and let buyers know that is reflected in your pricing.
Don’t: Add a Patio, Deck or Pool
Again, this can be very pricey, without much return. If you have an open area, use plants or pavers to tidy up and beautify the space. If the new homeowners want to build a deck, they can do so, but with their tastes and specifications in mind.
Adding a pool can cost a fortune, without providing a huge increase in what you will be able to ask for the home. Not to mention, by having a pool you are actually limiting your buyers.
Prospective buyers with small children may worry about safety and many people may not want to worry about the hassle and upkeep of maintaining their own pool.
Don’t: Do A Major Renovation to The Kitchen or Bathrooms
Don’t waste your money on a complete overhaul to your kitchen or bathroom unless these areas are extremely outdated to the rest of the home OR if there is extravagant water or fire damage. The cost does not make sense if you hire it out, especially when home buyers will have their own tastes. Many homeowners would prefer a credit to the home price allowing them to upgrade on their terms.
In summary: Don’t over-improve… keep it simple!