With the way the market is currently, there just isn’t a big selection of homes for sale, so many potential buyers are more willing to take on a project or two. But if your home needs a few updates, it is important to prioritize and do the update that you’re most likely to recoup the expense from. So, ask yourself: What are buyers looking for, what does my home need, and what are the risks/benefits of those improvements.
New and updated floors make a huge impact, and you’ll likely recoup that expense plus some. The same goes for a new roof. Fresh paint of a neutral color throughout the home also goes a long way, but keep in mind that if you have fresh walls and dingy trim, the fresh walls won’t add much, so go ahead and hit those baseboards and trim with a fresh coat of white. Kitchen and bathroom remodels are a different beast, as the expense for those can vary greatly depending on how far you’re willing to go.
Sometimes just an updated mirror and light fixture are all that a bathroom needs. It’s important to understand what buyers in your area are looking for before diving blindly into updating. Talk to a real estate professional to weigh the pros and cons of updating. With such a fluid market, sometimes it can be too costly to wait for the repairs to be completed. If you’ve recently made a few updates, make sure to express those in your listing.
Kathy Caufield is an experienced real estate agent with RealtySouth. You can submit a home buying and selling question to Kathy for her weekly column by sending an email to [email protected]. Disclosure: Kathy Caufield is also an advertiser in The Gardendale News.
