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Making home improvements before selling your house is one of the best ways to maximize your profits. When buyers see a home that has been well-maintained and updated, they are more likely to make an offer and be willing to pay more for it.
A study by the National Association of Realtors found that homes that underwent minor renovations before being sold for an average of 1% more than homes that were not renovated. Homes that underwent major renovations sold for an average of 6% more than homes that were not renovated. (NAR 2022 Remodeling Impact Report) By doing some quick math, you can get a great idea of which types of improvements will be appropriate for your home.
In addition to increasing the value of your home, making home improvements can also help you sell your home faster. Buyers are more likely to make an offer on a home that is move-in ready and does not require any major repairs or updates.
Our team thought it would be a great idea to list some suggestions for you to consider, and to categorize them by level of commitment. Think of this a menu, and pick only the items that you have an appetite for and fit your budget!
Easy and inexpensive:
- Deep cleaning all rooms of the house
- Decluttering and depersonalizing the home
- Trimming the bushes and trees around the house
- Making any necessary repairs, such as fixing leaky faucets, running toilets, or broken doorknobs
- Painting the exterior of the house, if needed
- Cleaning and organizing the garage
- Updating the hardware on cabinets and drawers
- Adding new curtains or blinds
Medium-level projects:
- Having the HVAC system inspected and tuned up
- Having the plumbing and electrical systems inspected
- Getting a termite inspection (not too important in Wisconsin, but needed for some lending programs)
- Replacing outdated light fixtures
- Staging the home to make it look more appealing to buyers
- Making minor repairs, such as fixing cracks in the walls or ceiling
- Adding a fresh coat of paint to the interior of the home
More commitment, big impact:
- Having the pool professionally cleaned and serviced, if applicable
- Making sure the home is well-insulated and has a good heating system
- Renovating the kitchen or bathroom
- Updating the flooring
- Adding a new deck or patio
- Building a new shed or garage
When choosing which home improvements to make, it’s important to consider your budget, time constraints, and skill level. You should also focus on projects that will add the most value to your home and make it more appealing to buyers.
Here are some tips for saving money on home improvements:
- Do some of the work yourself. If you’re handy, there are many home improvement projects that you can do yourself. This can save you a lot of money on labor costs. However, be sure to only tackle projects that you are comfortable with. If you’re not sure how to do something, it’s best to hire a professional.
- Shop around for the best prices. Before you start any home improvement project, be sure to shop around for the best prices on materials and labor. Get quotes from multiple contractors before making a decision.
- Consider used materials. You can often find used materials in good condition at garage sales, thrift stores, and online marketplaces. This is a great way to save money on materials.
- Get creative. There are many ways to improve your home without spending a lot of money. For example, you can rearrange furniture to create a new look, or add decorative touches such as plants and artwork.
By making some home improvements before selling your house, you can make it more appealing to buyers and potentially get a higher sale price.
Of course, every home and situation is different, so consulting with a real estate professional is always a good idea. Need help? Give us a call! The Firm is always happy to be of service!
