If you’re thinking of building a new custom dream home in Arizona, chances are pretty high that you’re living in a home you need to sell first.
If that’s the case, you’re probably thinking of making a few tweaks to entice buyers.
According to experts, certain renovations, if done correctly, will have a strong return on investment. But others can actually hurt.
Here are a few tips we picked up from an article on Yahoo Finance.
- Kitchens are decision-making rooms. The right upgrades – perhaps paint, counters and backsplash – can pay off more than a full remodel.
- Bathrooms are a chance for you to build an oasis of tranquility that will tempt buyers. Consider upgrading your vanity (double vanities preferred) and countertop. Also make sure the bathrooms are sparkling clean; replace grout to leave no doubt that you took care of the home.
- Fresh paint can bring a great return on investment. Neutral, light colors have the greatest appeal. Consider removing wallpaper that might not appeal to all buyers.
- Lighting is an often ignored but very impactful renovations when you’re selling. Modernizing light fixtures can make your home pop without busting your budget.
- Garage doors add curb appeal and can boost the feeling of security. Upgrades reportedly bring a 98% return.
- Yardwork can add impact. Remove overgrown shrubbery and trim other plants. Colorful flowers and fresh mulch give that well-kept look.
- An outdoor space, especially for smaller houses, can contribute 10 to 15% of a property’s value. Adding/upgrading a deck will also pay benefits.
- Over-the-top kitchen upgrades might be great if you aren’t thinking of moving but can lose a lot of money if you are.
- New additions and room conversions, like turning a garage into a bedroom, can lose buyers and generally will not give a great return
- Flooring is personal. If you need to replace it, skip carpeting – today’s buyers prefer hard surfaces. If money is tight, consider a good professional cleaning
- Unique or big-ticket upgrades that appeal to you may not do the same for a buyer.
- Curb-appeal can account for about 8% of a property’s value. If you spend more than that on an upgrade, you’re losing money. And you don’t want to overdo compared to your neighbors.
- New built-ins, like shelving or entertainment systems, might be very specific to you, but not necessarily for buyers.
As a homeowner, don’t shy away from upgrades that make your home more comfortable and enjoyable if you plan to stay awhile.
But if you’re thinking about selling, it’s no longer about you. It’s about making your home more attractive to potential buyers.
And when you’re ready to break ground on your new dream home, give us a call – we’re ready!
Your Friends at Crystal Creek Builders