A Little Investment Goes a Long Way

Repairs Can Be Worth the Time and Money

Repairs are expensive but a worthwhile investment for your home when it comes time to sell. Most Realtors will say that certain home repairs are essential. They can list out high priority items that need attention and also some that aren’t as important to get the best price for your home. A good Realtor can identify the rooms and upgrades that make the difference in a good sales price for your home.

Kitchen

For many families, this is the hub of the home. Remember, the buyer is looking at how your house will fit into their lives. They’ll look at your kitchen and picture their family preparing meals, having conversations about the day ahead or, the day that finished. If your kitchen isn’t up to date, warm, and functional they may not have the emotional connection to your home needed to make the sale.
Most kitchen updates can be completed for less money than you may guess. Replacing older appliances and a fresh coat of paint are all that many homes need to reach buyers looking for the new hub of their lives. Sometimes, more extensive updates need to happen. Regardless of the size of the updates, most experts agree that you will increase the value of your home by making an investment in a kitchen update. Zillow has an article giving information about how kitchen remodeling can affect your home’s sales price.

Bathrooms

When thinking about this room, the most popular adjective that people think of when it comes to bathrooms now is “luxurious”. Master bathrooms get less consideration by buyers if there are certain amenities like double vanities and storage. Sometimes these are easy to remedy with an updated vanity and fixtures. Switching out older fixtures is a good and inexpensive investment that’s within reach of most homeowners. Faucets and shower heads can be replaced by the average homeowner with ease. If more of your bathroom needs updating, it can get expensive and require more expertise.

Everywhere Else

Your front door is probably the last thing that you would consider updating to sell your home but, it’s the first thing buyers experience when they come to view it. A fresh coat of paint will pay off when it comes time to sell. In 2018, research indicated a darker color reaped a huge pay off in sales prices. The color you choose may be directed by local ordinances or HOA covenants. Be sure to check on these before you make any color change. While you’re refreshing your door, consider updating the door locks and handles to make your entry fresher and more appealing.

In other rooms of a house, the flooring and walls are what people will notice when viewing your home. Most carpets will begin to look worn after 5 – 7 years. People will notice high traffic areas, especially hallways. Worn carpets make a house look tired and less appealing to buyers.

Linoleum is a durable flooring but also begins to show wear over time. It’s also a less desirable floor choice in areas such as kitchens. In utility rooms, such as the laundry room or a mud room, it’s a good choice since it is easy to clean and maintain. In today’s market, buyers will want hardwood or an upgraded tile in kitchens and bathrooms.

New flooring is a great investment for your home. Be sure to check out some flooring ideas online such as this one on Top Flooring Trends in 2020 on Realtor.com to help make your choice.

Repairing the dings and scratches on your walls is a must. Making sure that your wall colors aren’t too bold for buyers is another. A deep red paint may have the dramatic effect that you want for your furnishings but it may turn off buyers. Also, if every room is a different color it can be off putting to buyers. Color choice matters in sale price as is shown in this article from Business Insider.

A Simpler Way

All of these updates can become expensive. Your budget may not allow you to address all of them without financing. You also may not consider that the interest you pay on financing actually adds to the price of the repairs but it does. Each month you pay for a home equity loan can add hundreds to the cost of the repairs in the form of interest (currently, home equity lines of credit are around 5 – 6% interest). This is money that you will pay until your home sale finalizes.

At Amplus Realty LLC, we can help avoid those costs by putting together a plan and budget that can help you pay for updates to your home. The best part is you pay for the updates at closing. Contact us today to discuss how we can help you get the most out of your home and avoid the added expense of financing.