Improvements That Pay

It is often a good idea to make some improvements before you put your house on the market. When you begin the home selling process, many of the little flaws you have lived with over the years are going to come out of the woodwork, or so to speak. It is these faults that will stand out to potential buyers and may prove to be hindrances to the sale of your home.

Addressing these issues early may be difficult considering you have lived with them for years or even decades. It is possible that you have lived with them long enough that you don’t consider them to be problems at all. Unfortunately, there are plenty of buyers out there that will scrutinize your home and consider all the little “quirks” as deterrents to purchasing your home.

What then should you do? It may not be possible to fix everything, you may not be able to afford it, and in some instances, it may not be worth it. When it comes to selling a home, there are certain improvements that will increase the value of your home, possibly paying for themselves by increasing the selling price. Conversely, there are an ample number of improvements that won’t hold the same weight with buyers, resulting in a poor allocation of your time, energy, and of course, money.

This is not to say that you should make improvements only for the financial payoff. If you enjoy it and it gives you pride of ownership, then do it. Just keep in mind that homebuyers may not think like you, seeing your “improvements” as added work or as eyesores. A neutral home that can easily be changed to fit the needs of potential buyers is the easiest home to sell.

Neutral is the key here. Avoid alienating buyers with purple walls and green carpet. While home decorating follows trends, I am fairly confident in saying that orange shag from the 70’s won’t be back in style for a while. And while wallpaper does have its applications, when it comes to selling a home, paint trumps paper almost every time. If you catch buyers staring at a wallpapered wall, it may be that they are fascinated by the pattern but I would bet they are contemplating the difficulty of its removal. A coat of paint on the walls and ceiling can go a long way for a small cost. Read that line again because I did say ceiling. “You would be surprised at how many buyers look up in a room before they look down,” says Realtor, Andrea Stanaway of The Buckley Jolley Real Estate Team.

Walk around the home with a few screwdrivers and some keen eyes. Tighten any loose screws that you may see. Check for interior and exterior doorknobs, drawer handles, and light fixtures that need tightening. Sometimes it’s necessary to oil door and cabinet hinges that squeak. While you are inspecting lights, get rid of the bugs that have collected over the months, or possibly years. Don’t neglect the garage either. It needs to be well lit, clean and organized. Try power washing and then painting the garage floor. If you can’t see the floor, put up shelves to get things off the ground.

If you are thinking along bigger lines, consider a bathroom or kitchen renovation. Grimy, poorly lit bathrooms will send buyers running. Similarly, kitchens from the medieval period can repel even those buyers with a do-it-yourself mentality. These are also two areas in a home where messes tend to occur. A thorough cleaning is a good start and will sometimes do the trick. In many older homes however, it’s the kitchen’s size and layout that turns buyers away.

According to Buckley Jolley's, Karen Jolley, “Most buyers walk through the door and head straight for the kitchen. It’s an area of the house where a significant amount of time is spent.”

If there was an area in the home that pays to remodel it would surely be the bathroom. According to a recent study conducted by Realtor Magazine and in conjunction with Remodeling Magazine, a remodeled bathroom fetches the highest resale price nationally. If you think about it, the bathroom is a necessary evil. On one hand, they offer far more appeal than a honeypot hidden under your bed. On the other, the bathroom’s very nature lends itself to the collection of unpleasant odors and unsightly grime. Whatever can be done to lessen the bathroom’s disagreeable character is advisable.

Before kitchens and bathrooms can even be scrutinized, you have to get buyers through the door. Curb appeal is a particularly important aspect of selling a home to consider. You can have the most lavishly decorated interior but it won’t mean a thing if the gutters are falling off and the paint is pealing. Easily maintained landscaping, fresh paint and a few do-it-yourself repairs will all contribute to a more inviting exterior. When a prospective buyer pulls up, you want the front yard to say: “If you think this is nice, wait until you get inside.” Often, and especially during the drab and dreary Michigan winters, yards will have the opposite effect, pleading for buyers not to judge a book by its cover.

If your home’s exterior seems plain, spruce it up with some easily maintained landscaping. If you have to pass out machetes for those wishing to make it from the curb to the front door, a little pruning would be in order. Keeping things neat and simple will have the best effect. Buyers wishing to improve upon their landscaping have the option and those looking for minimal yard work won’t have to worry. Don’t dig up your prize-winning garden just to get a few showings though. Just understand that it may take a while for the right buyers to come along. When they do, your hard work in the yard will be a wonderful selling point.

There are countless other improvements that can be made to increase the appeal of your home among potential buyers. If you are considering a remodeling project or two, you may see a significant increase in the sale price of your home. Keep in mind that the larger remodeling projects can offer the advantage of tax-free equity gained on the sale of your home. Even If you aren’t in a position to remodel, you will still be able to realize tangible benefits just by doing some minor do-it-yourself work.

- Christopher Jolley, Finance & Marketing Manager, The Buckley Jolley Real Estate Team