All of us want to know that when it comes time to sell our homes we will be able to get buyers to pay the maximum possible price. After all our home is our largest single asset. If you are like me, you've poured your blood, sweat, and tears into yours. In our area (Flower Mound/Lewisville/etc.) a majority of our homes were built in the 1990's when brass finishes, wallpaper, seashell sinks, and light woods were all in vogue.
Here's the problem. Even if you've taken AMAZING care of your 90's home, it is still not going to sell at the top of the market with it's old finishes. Sure, it is a seller's market right now. If it's priced right it is going to sell fast. But, just because it's selling quickly doesn't mean you are getting the absolute maximum return. A good agent is going to take into account the quality of finishes compared to today's standards when they are determining the market value of your home and will price accordingly. However, a great agent is going to see if there are some strategic updates that you could do to your home to maximize your ROI. If you are willing to spend a little bit up front you could really pad the bottom line at closing.
Here are some changes that could go a long way:
1. New carpet- Old/dingy carpet is a MAJOR turnoff to potential home buyers and can affect the perceived value of your home. New carpet is relatively inexpensive compared to other forms of flooring coming in at about $2.50/square foot.
2. Paint cabinets & New countertop- The old light oak cabinet is a turnoff to current buyers. Couple that with a formica laminate countertop and you've got a kitchen that screams "OUTDATED". Simply painting your cabinets white and installing a new countertop will help your enter this decade stylistically. Although granite is not cheap (up to $65/square foot), the $2,000-$5,000 you spend on your kitchen upgrade now could bring large returns upon sale.
3. Change out old hardware- You know that gold/brass that adorns the inside of your home? Everyone hates it. That's right, there aren't any buyers that like that stuff. Go to Home Depot or Lowe's and purchase new door knobs for $10 apiece. Brushed nickel is in right now. You'll spend a couple hundred dollars and add a couple thousand in appeal.
4. Master bathroom facelift- We Realtors like to say "kitchens and master bathrooms sell homes" and it is absolutely true. That seashell sink that was so cute when your home was built is now a stamp on your home that says "OLD!". Updating your vanity, the tile in your bathroom, and even the shower enclosure (go for frameless) will do wonders to attract buyers.
I know thinking of making all of these changes can be overwhelming. If you're like me you're seeing the $ signs stacking up. That being said, even with a small budget there are things you can do to help your home's appeal. As someone who does this every day I would be glad to sit down with you and come up with a plan. Your home is worth it.