Updated: Apr 18, 2019
When you are getting your home ready to sell it is important to know what to fix and what to upgrade in order to make the most return on your investment. Not all upgrades are created equal! So which upgrades should you make?
General Rules Of Upgrading Your Home
First and most important is to do any major repairs that are needed on your home. If you have a roof that is in bad shape, windows that are broken, or any major systems in the home that need work those are the first things that should be upgraded. If these components in your home are in disrepair it will take thousands off the sales price.
To Update or Not?
If all of the major systems in your home are in good shape you can think about updating your home to make a bigger return on the sale of your home. There are two rooms that you can generally expect to sell a home the best: the kitchen and the master bath. If you are going to remodel or update anything start in the kitchen and next move to the master bathroom. But what do you do in there? Do you remodel with all high end finishes? Do you just put in new appliances? Granite? Recessed lights? The list can go on and on.
Here's what you need to do if you are trying to figure out what to update: have your Realtor work up comps for you and include pictures of those homes. There's quite a bit to consider in those comps but a good Realtor can advise you on what aspects of those homes are causing the top sellers in the neighborhood to sell for more. From that you may see that some of the most expensive homes that have sold didn't have granite in the kitchen, or all of them had stainless steel appliances. You may notice color schemes with the most expensive homes. What kind of floors do they have? Take all of this into account and to make the most return on your money only remodel/upgrade what the top sellers have remodeled/upgraded. You may be able to sell your home for more than the other homes if you go above what the other homes have done but the sales price of the other homes will always limit what you can make on your home - don't expect to make $150/square foot if the most expensive home in the neighborhood sold at $125/square foot. There are some exceptions and a lot of variables here which is why it is a good idea to consult a good Realtor!
If you would like to know what to upgrade specifically in your home let me know! I'm glad to help!
Bonus tip for remodeling!
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