When a seller lists their Windsor real estate, they are often under the impression that all of their updates and home improvements should be reflected in their asking price. Maybe for many, they spent thousands of dollars on their media room. Or they dropped a small fortune on a state of the art swimming pool and backyard landscaping. Of course, these are wonderful home additions that many buyers would love to have, the problem is, not many are willing to pay extra for it. All sellers should remind themselves that not all home updates are created equal. Media rooms are not a requirement for the vast majority of home buyers today. And swimming pools? Many families won’t look at homes with pools while others don’t have a feeling about it one way or the other.
What is it that buyers really want to see in a home: Updates!
1. Updated kitchen
2. Upscale bathrooms
3. Outside decks and patio
What’s important for sellers to note is that if you enjoy the media room and swimming pool, by all means, that’s terrific for you and your family. Chances are, you will have terrific memories and celebrations with these additions. However, will you get back every cent that you poured into it? Probably not. So don’t make these improvements if you think you are going to get your money back but rather do it because it is something your family will enjoy.
What are buyers not so interested in other than the media rooms and swimming pools?
1. Converted garages
2. Attic remodel
While I hesitate to say 100%, I will admit that the vast majority of buyers want to have a secure place to park their cars at night, especially during the winter, so homes that don’t have a garage will often not even be looked at by buyers. And attics? Well, it’s not a huge priority.
So remember if you want to remodel or update anything, consider the kitchen and bathrooms. Here, you will get a good portion of your money back. But don’t go crazy on over the top appliances or expensive flooring. Middle of the road improvements often work just as well and appeal to a great number of buyers. Stainless steel, granite, kitchen islands and updated cabinets make a huge impression on buyers. Bathrooms with newer showers, tubs and toilets also create a definite “wow” factor.
Also, buyers like curb appeal. They enjoy driving up to a home and immediately liking what they see. This valuable first impression starts the whole home tour off on the right foot. It’s true that buyers are looking for homes that are move-in ready. If the first thing they see is a home whose grass needs care, weeds need pulling and cobwebs cover the outside windows, they can only imagine what they are going to see inside. So don’t put money into making an extra bedroom into an office or make any other unpopular home improvement if you are going to be selling soon and your landscaping looks horrible. So spruce it up, paint if necessary and don’t forget to use updated light fixtures.
Finally, if you have a small master bedroom and you know you are going to be selling your home, don’t bother to make any updates or remodel with the thought that you will get every bit of your costs back when the house goes on the market. While buyers do like large, relaxing bedrooms, I have seen homes that have amazing bedrooms, but the kitchens aren’t so great or the bathrooms are over 20 years old. So again, if you know you are going to be moving, then update the rooms that truly matter to a buyer. Instead of remodeling the small bedroom, make it appealing for buyers by taking out the king sized bed in your smaller bedroom and replace with a full or queen and remove any bulky furniture that is not necessary. Paint the room a neutral colour and take away any heavy window treatments. This will create a bedroom that is larger all without spending any money other than for a gallon of paint.
While all home improvements won’t dramatically increase the selling price of your home, remember that as long as you and your family enjoyed these improvements, in the end, that’s all that matters.