Best renovations to make before you sell your property
Over the last couple of years, since the COVID-19 pandemic, property value went up considerably. The seller’s market has thus swayed many property owners to take advantage of the current situation and increase their profits as much as possible. The question of whether the price increase is justified is a totally separate one, given the state of some of the listed properties. If you are also thinking of maximizing your profits when selling your house or apartment, there are some things you should do. In the following rows we will be covering the best renovations you can make to your property before selling.
The simple things first
The inexpensive an easy fixes come first. These are things you can rather quickly do yourself, if you have the time, of course. Nevertheless, these can yield massive returns.
Fresh coat of paint
Starting with one of the most obvious ones – the paint: a fresh coat of paint can do miracles for your property, especially if you have not repainted in a while. Remember to use more neutral colors as these are more likely to deliver the best return on investment. Chances are potential buyers might not be huge admirers of a bright color palette. For this very reason, neutral is the way to go.
Small fixes – hardware
Then go on for the small repairs or replacement of what is broken or outdated throughout your home. These might be the door handles for instance. Potential buyers have very few tactile interactions when looking at properties. One of these few interactions is the door handles, so while non-issue at first sight, these are quite important. Make sure handles and all door hardware is working well. You can also install new, towel bars, faucets and the likes. These are a huge part of a bathroom and clearly visible, which means they make an impression, especially in an emptier bathroom that is staged for buyers. No to mention that these are more often than not inexpensive. In general terms, installing new hardware throughout your property will improve both the functionality and safety of your home.
Lights
Another small change that can have a big impact on the mood of a room are the light fixtures. Changing these is a rather small fix but it is definitely one that comes with great benefits. So have an objective look at the fixtures throughout your property. See whether some of the fixtures are well past their prime. If space allows it, maybe even go for an additional floor lamp in the living room.
Clean and declutter
Depersonalizing the space and decluttering are essential, yet very low-hanging fruit! First things first, remove all your family photos and keepsakes from walls and shelves. Make it so that potential buyers would be able to imagine themselves living in the property! Having a lot of stuff can make a space feel overwhelming. Make sure to get rid of the useless and free up space. Making a room look bigger will go a long way in ensuring buyers like what they see.
Last comes cleaning. A good deep clean is a fantastic way to create a good impression with potential buyers. Looking at it from an financial perspective, it really does make sense to have your home well-cleaned.
Major renovations if there’s time and budget
The small things will go a long way, but the major renovations is the thing that has the biggest return on investment potential. Of course, there is a risk involved as well, like doing the wrong renovations, or doing them badly. Timing is also an important thing to consider. If you embark on a larger project that may take a couple of months, you are risking the market cooling off. Although, admittedly, as of now, that does not seem likely.
And despite the risks involved, fixing the bigger flaws is a must if you’re looking to make money off of your property. Whether it’s the plumbing or the wiring, go for it! These are major turn-offs for potential buyers so you’d be wise to check these off the list.
Kitchen and bathroom
Another major renovation that might be worth the time and investment is a new kitchen. As they say, the kitchen is the heart of a home – in other words, a dealmaker for buyers. Plus, it would usually add more value to your home, which will outweigh the money spent. A worthwhile investment overall! Similarly, a bathroom renovation can also maximize the potential returns. But remember, these are no small feats, so professional help might be needed. Start off by securing the services of an interior designer. Beside a design that would draw buyers’ interest, interior designers can also get you good discounts on both labor and appliances.
Entry/interior doors
Last but not least, changing the exterior door or the interior doors will also increase the profit of your property’s sale! Going for bespoke doors is less expensive than the kitchen/bathroom renovations, but you get a great bang for the buck! So consider whether this is not the best way to go about increasing the value of your property. Our consultants are at your disposal, so be sure to get in touch with SBS Design for a free consult.
All of these renovations – both the small fixes and the larger renovations – will guarantee you a good return on investment. Just make sure to partner up with the right contractors and act quickly so as to minimize the potential risks involved.