Upgrades To Increase The Value Of Your Home
You have probably heard the old adage🏠 "kitchens & bathrooms sell a home!" 🏠This has never been truer than now. The real estate market has shifted, and the style and condition of a home are fundamental to buyers.
Let's chat about bathroom updates and upgrades and see how they can improve the resale value of your home. A universal mid-range bathroom remodel will give you about a 70% return on your investment, according to the Remodeling 2019 Cost vs. Value Report (www.costvsvalue.com). Now 70% is a reasonably decent return on your investment.
However, you may be thinking, if I plan on selling my home, wouldn't I actually be losing money? Wouldn't I be better off letting the buyer make those updates? Can't I simply discount my sales price to compensate for an outdated bathroom? We advise our clients on smart choices when it comes to updating a bathroom. If you are selling your home, you can make minimal changes that make impactful improvements!
💸💸Generally, the buyer's opinion of the cost of the updates is usually well above the actual price, so make small improvements where you can.💸💸
Why a homeowner must make smart decisions when it comes to bathroom remodels...
You must understand and react to your home's competition. You want to avoid leaving your house in a situation that will drive buyers to all the other homes on the market. You could face steep discounts for the lack of upgrades. Additionally, you could see your house stay on the market for a very long time. We have watched the days on the market creep up over the past few years. Inventories have risen, and the competition is fierce. Buyers are very picky, and the most common feedback we get from them is that they are not buying a property because it needs too many updates.🏚️
Making The Smart Choice 🤔
We've created a hierarchy of updates you should make to your bathroom. If you are planning to sell, you should consider the first two levels of upgrades. This would include a deep clean of grout and tile, caulking, removing wallpaper, painting walls, updating faucets, lighting, and fixtures. It could also include painting the cabinets and adding drawer/cabinet pulls. Bring us in early in your planning process to help you make the smartest choices to appeal to buyers.
Once You've Updated - Stage it!
Once you have made the best choices for updating your bathroom, stage it like a pro. We just love the ideas that are set forth in this article by Houzz. Get inspired: click here.
📞 Call us when you are ready to sell!
Are you thinking of selling your home soon? Want to know the most significant improvements you can make to get your home sold quickly? We've got tips and strategies to help you succeed. Give us a call.