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The Home Seller's Dilemma: Update Now or Hold Off Until Selling?
When selling your home, you need to make it appealing to potential buyers. What does that mean, though? How far do you need to go to get your home ready to go on the market? Can you do with basic cleaning and a few minor repairs, or should you embark on a complete renovation? Can remodeling your house too much work against you in the selling process?
The truth is, some home updates can help you sell, and some are better left to the next owner. We can walk you through the process and help you maximize your home's potential on the market, but in the meantime, here are a few basics when it comes to pre-sale home updates.
- DO: Paint. Colors fade, and paint peels over time, not to mention stains or discoloration. Additionally, while the color scheme may appeal to you, it may not sit as well with potential buyers, and bold, striking colors can turn them off. Particularly if it's been more than five years since you last painted, take a weekend and paint your whole house in light, neutral colors. It will make the space look like new.
- DON'T: Remodel the Kitchen. There are certain projects new homeowners would rather undertake themselves, and kitchen remodels are at the top of the list. It's an act of personalization, upgrading things to suit their specific needs and making the space their own. Therefore, homebuyers are more likely to buy a home with an older kitchen in need of an upgrade than one that's just been remodeled to suit someone else's tastes.
- DO: Repair Driveway Cracks. Your front yard and driveway are the first things potential buyers see, setting the tone for the rest of the house. In fact, curb appeal can boost the value of St. Louis homes for sale by as much as 7%. Therefore, it's important that your home's exterior make a good impression. Concrete filler from your local hardware store can repair minor cracks in your driveway or walkway in a couple of hours. However, if there's more extensive damage, particularly if it could be a tripping hazard, you should have the whole thing repaved.
- DON'T: Install a Pool. If you're going to put in a pool, make sure you still have plenty of time left in your home to enjoy it yourself. While it's true that a pool can increase the sale price of your home, the value added doesn't come close to the actual cost of installation. Save yourself the expense and let the new owners put in their own pool if they want it.
- DO: Redo the Flooring. Between heavy foot traffic, stains from spilled food and drink, and scratches from the claws of indoor pets, your floors take a beating that can turn off potential buyers. For carpet, a professional steam cleaning can make it look like new. For hard floors, see if damaged sections can be repaired or replaced.
- DON'T: Convert Spaces. You may think you'll increase your home's appeal by turning the garage into a home gym or the spare bedroom into an office. But those are niche uses that won't appeal to every buyer. You'll attract more potential buyers if you leave those areas as-is and let the new owners convert them themselves to suit their own needs.
If you're ready to put your home on the market, we can guide you through it, from increasing your house's appeal to attracting buyers to getting you as much as possible from the sale. Get in touch to get started!
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