Colorado Real Estate News

Renovations to Consider Before Selling Your Home

Have you been thinking about selling your home and wondering what you’ll need to do to get ready? This can be an overwhelming process without guidance for which renovations are best to maximize the return on your investment of time and money.

The first things to consider are how much clutter you have and whether your house’s finishes compare favorably with neighboring homes. Next, think about the last time you had your house painted and assess whether it could be freshened up. Light neutral colors are still in fashion and make a home appear bright and clean. White walls or light grey are popular with homebuyers, even if they decide later to add more personality.

Decluttering and painting can be a game-changer and you might be able to stop there. With some professional staging, you could be ready to maximize your home’s price after these simple steps.

The National Association of Realtors’ latest data suggests that on average homes are receiving 3.7 offers and 86% are on the market less than a month. With that level of buyer demand, your updates should be calculated to make sure you stand out above the crowd and you’re the next one to get an offer.

If you’re in an older home, more serious renovations might be in order. See the graphic below for ideas on where to best leverage your money. Lighting isn’t listed but replacing dated fixtures will add another subtle layer to a home’s value in buyers’ minds. Ask your broker whether you need to look at a mini-renovation including lighting or a more major update like kitchen or baths, new garage door or even roof.

Not every broker will recommend a home inspection prior to listing, but it’s not a bad idea. Sellers can learn about repairs they may not have realized were needed (surprise! we do have termites in Colorado.) Inspectors will also point out other deferred maintenance that could spook buyers, as well as where a seller should plan to spend money during the inspection phase. A home warranty isn’t a bad idea either. Yes, sellers will need to fully disclose the information turned up in a pre-inspection, but forewarned is forearmed and not only can you address the serious issues ahead of time, but you can also factor the information into your pricing.

Bottom Line

Talk with your broker before diving into repairs for a home sale. Each neighborhood is different and home sale statistics can help inform you about what’s selling most quickly for the highest price per foot.

At Kentwood Real Estate we have seasoned brokers who have deep knowledge about the markets they serve. We also have the Kentwood Amplify program to assist homeowners in contracting and paying for renovations prior to listing. Contact a Kentwood broker today if you’re interested in learning what steps to take to get ready for a home sale.