Homeownership is considered the largest source of wealth for most Americans and when it comes to selling your home, the first impression is the only impression. You get one chance to set the tone for the home. Psychologically, when a buyer sees a home that looks pulled together, they walk in with a positive impression.
The common goal of homeowners when deciding to sell their home is generally to get the most money in the shortest amount of time. When you’re preparing to put your home on the market, you may want to consider which updates yield the largest return on investment. Should you paint? Remodel a bathroom? Add a pool in the backyard? The list goes on and on.
When updating the interior of your home, there are even more options. Understanding your market is important when making these selections, as this will play into what you’re able to recoup. For instance, renovating a kitchen is often the most expensive in terms of construction, but can also yield a large return if you don’t upgrade beyond what is considered the norm for your neighborhood.
Here are five DOs (and a few DON’Ts) to consider before putting your home on the market that will help yield the highest return on your investment:
1. Apply a fresh coat of paint
If the exterior of your home needs a little more than a good pressure washing, consider having a fresh coat of paint professionally applied. Keeping the paint similar in color to what is already on the home will help keep costs down by not requiring as many coats. A fresh coat of paint on the front door and updating the hardware can give the home a whole new look. Don’t forget to paint the garage door too, especially if it is on the front of the home. Again, update it with some new hardware and you’ve given the exterior a whole new face lift! In addition to putting a fresh coat of paint on the exterior, consider adding a fresh coat to the interior. Painting your home in neutral colors makes it easier for a buyer to be able to visualize themselves in the home.
2. Add curb appeal
Curb appeal is more than just a pretty yard. It influences the feeling a buyer gets when looking at the exterior of your home. You want your home to feel welcoming and offer hints of what it might be like inside. One budget friendly option to enhance your curb appeal is sprucing up and refreshing the landscaping. Add some inexpensive shrubs or flowers and a fresh layer of pine straw in the beds. Azaleas are a great option for our area and come in many different shades. Don’t overlook the basics, like trimming trees, keeping up with general lawn care maintenance and pressure washing the driveway and walkways. Updating your curb appeal increases a property’s value and typically can result in a 100% rate of return on your investment.
3. Replace carpet/repair flooring
Updating your flooring can instantly change the look and feel of your home. Beautiful floors make a great first impression. When investing in new flooring choose something that is not only desirable to you but will also be appealing to potential buyers. Luxury vinyl plank is something that has become very popular in our market for both primary residences as well as vacation rentals. It is easy to clean and often waterproof. If you have carpet, consider replacing it or having it professionally cleaned to help remove any dirt and odor that may have accumulated over the years. Don’t be afraid to mix different types of flooring but be careful to make it too “trendy,” as that might not appeal to everyone’s taste.
4. Update kitchen/bathrooms
Although aesthetic appeal plays a role in your overall return, you also want your upgrades to be functional and useful to future buyers. Knowing your home value can also help influence your selections, as your budget may be driven to some degree by the value of not only your home but other properties in your neighborhood.
When it comes to kitchens and baths, there are different levels of remodeling. A minor kitchen remodel is said to yield the largest return. This would include upgrading items such as cabinet door fronts, installing new countertops, cabinet hardware and fresh paint. Don’t do a major kitchen remodel prior to listing your home! A major remodel would include moving walls to achieve better functionality, semi-custom cabinetry, eco-friendly appliances, and new durable flooring that compliments your home. If you have questions regarding remodeling decisions, you might want to reach out to a realtor to get their recommendation.
An easy way to give your bathroom a fresh look that captures the eyes of potential buyers is to update your bathroom vanity, sink hardware, or vanity lights. Buyers love seeing updated kitchens and bathrooms, and this also allows them the opportunity to move in without having to take on immediate updates.
5. Update lighting/fixtures
You can instantly illuminate your space by updating lighting in a few main areas, like the kitchen and dining rooms. Add pendant lighting over a kitchen island. Replace a dated chandelier over the dining room table with one that is more of a statement piece. Don’t forget to keep in mind the environment of the room when you are picking out new lighting. Living rooms are made to feel cozy while brighter lights tend to be more necessary in the kitchen. Another great option is to include dimmers on your lighting so you can set the mood as you choose! Tying into curb appeal, updating outdoor lighting fixtures will help provide a great first impression of your home. Outdoor lighting not only illuminates the best features of your home, it also adds a layer of security.
While all of these options do cost money upfront, these five DOs repeatedly have the highest rate of return, with some of these updates even yielding 100% return. One last DON’T that is very important: don’t forget to invest in essential repairs to the home first. This means anything that can cause damage to the home or harm its value. A home in need of repair tends to stay on the market longer, and the longer a home is on the market, the higher the likelihood of getting a lower offer. Do keep in mind that updates which increase the marketability of the home also increase the chances of it getting sold.
Brooke Ackerman and Margaret Ann Proctor of Signature Properties Group
Brooke Ackerman is both a third-generation Glynn County resident and a third-generation real estate professional in the Golden Isles. Her love for this community runs deep. As a lifelong St. Simons Island resident, Brooke has extensive knowledge of not just St. Simons, but also Sea Island, Brunswick, and the surrounding areas. With her careful attention to detail and professionalism, Brooke is eager to assist you in calling the Golden Isles home!
Margaret Anne Proctor is a true Golden Isles local and loves all the island lifestyle has to offer. Margaret Anne has a passion for real estate and helping families find the perfect place to call home. Although Margaret Anne has significant experience in the local real estate market, she continues to draw from her prior experience working in advertising and understands the importance of a strong marketing plan when it comes to selling your home.
If you are interested in buying, selling, or investing in the Golden Isles, DO give us a call at Signature Properties Group: 912.634.9995!
