Home Sales Fundamentals: What Every Homeowner Should Know

How Spending A Bit Of Money On Renovations Can Pay Off Big When You Sell

If you want to sell your home for top dollar this summer, then there is more for you to do than hire the best agent in your area and correctly price your home for the market. Unless your home was built in the last decade, spending a bit of cash on renovations before putting it on the market can pay off really big when you sell. Since many home buyers don't have the skills, time, or money to renovate after moving in, your home will garner a higher price if it is in move-in-ready condition.

Since you want to get the maximum return on each and every dollar you spend renovating, consider these Realtor-approved guidelines:

Spend Your Renovation Budget in the Right Areas

There is a common saying in real estate that "kitchens and bathrooms sell houses" and this a common saying because it is completely true. Think about the last time you were touring homes and what areas you spent a lot of time looking at and evaluating. While the size of the living room or spare bedroom likely didn't dissuade you from making a purchase offer, an outdated kitchen or minuscule bathroom likely did.

When you are making renovation plans, think hard about how you can improve your home's kitchen and bathrooms. At a minimum, both areas need to have granite or quartz counter tops and new fixtures. If you have the older style honey oak cabinets, then you should consider painting them and installing modern hardware.

In addition, your kitchen should have an updated backsplash and matching appliances. Rather than spending all the money to purchase new, buy used appliances to inexpensively update the look of the space. After all, your buyers won't notice the difference between a stainless steel refrigerator you bought new for big money or one that is a year or two old that you got for a steal.

Consider Converting Your Home to "Open Concept" If It Isn't Already

If your kitchen has a wall that blocks the view into the living room or dining room, then you should seriously consider removing it and making your home into one that is open concept. Most buyers today are looking for modern and open space homes, and removing a wall is a much simpler procedure than you might expect.

Have Your Home Staged by an Interior Designer

Unless you are an interior designer by profession, then you aren't qualified to stage your own home. Even if you have a great sense of style, you should still let a professional interior designer stage your home before you list it for sale. The cost is small compared to the time and money you will lose if the home doesn't show well.

About Me

Home Sales Fundamentals: What Every Homeowner Should Know

When I decided to sell my first house, I had no idea how complex the process was going to be. From meeting with several real estate agents to completing the listing and scheduling open houses, it was more demanding than I thought. When it came time to entertain offers, I was at a loss for how to evaluate each one objectively and I made some mistakes that I wish I'd known better about. Now that we've left the closing table, I wanted to create this site to help others who may be new to listing a home. Read through what I've learned so that you can be better prepared for the process yourself.


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