Should I Stay? Or, Should I Go?

Should I Stay? Or, Should I Go?

Thinking about selling? Try these five low cost home improvements to maximize your ROI.

Deciding to sell your home may be one of the most difficult decisions you’ll have to make during your years of homeownership. It will almost always present a multitude of emotions, especially in the beginning stages. If this is your first time selling a home, you should prepare yourself for a roller coaster ride of internal questioning, mainly, “should I stay? Or, should I go?” With your favorite Clash song now playing on repeat, you’re welcome, you will want to put together a list of pros and cons to selling versus staying. This will hopefully ease your mind, clear your head and set you on the right path. Regardless of your decision, you will want to shift your focus toward maximizing your ROI.

Assuming you have chosen the path to sell, which is likely why you’ve made it to our Custom Home Realty page, you are probably wondering; “what affordable improvements can I make to my home that will bring me the biggest return on my investment?” First off, Congratulations! Second off, great question! We actually get asked this by almost every homeowner considering to sell their property. However, it’s usually asked in a more round about way with complexities added onto it. So, let’s just simplify this for the sake of this article, and say: As a seller, I am looking to spend the least amount of money to gain the most amount of money. Sound about right? Perfect.

So, while we don’t have a crystal ball, and the demand for certain updates can fluctuate, we do know that specific improvements, have, and will almost always bring you a positive return on your investment. So, if you are thinking about selling in the short term or even long term, please talk to a real estate agent before making any big changes to your home, especially changes that will cost you money. Fortunately for you, some of our CHR agents have compiled a list of their top five updates which they have found to have the biggest impact on potential buyers which will ultimately add to your ROI (return on investment). 

1. Curb appeal. It doesn’t take much money, but it does take about a weekends worth of time and a little bit of effort. So put on some junk clothes, find your garden gloves and roll up your sleeves! You will want to start by power washing your house and cleaning your windows. Next, edge your gardens and/or define your front walkway by adding some fresh mulch or stone and potted flowers. Lastly, and most importantly, paint your front door and create a welcoming mailbox area. Combined, all of these exterior improvements will make the biggest pop come time for your agent to market your home, and will almost always leave a lasting first impression, both online and in person.

2. Paint. Buyers love freshly painted homes, both inside, and outside (clapboard siding only). While painting the entirety of your home isn’t necessarily the cheapest, sellers will almost always see an ROI. You’ll want to keep your colors neutral and calming. If you choose a warm color, make sure you continue with warm tones throughout your home. Same goes for cool colors. If you are unsure, Benjamin Moore and Sherwin Williams have fantastic pallet suggestions. *Please hire a pro if you can’t confidently stand behind your work.  

3. Professionally clean. You will want your home so clean that buyers can eat off of the floor… literally. This is a low cost expense that will assist in going the extra mile when buyers tour your home. Remember, first impressions are lasting impressions. Make it count!

4. Light Fixtures. Please, please, please swap out your light fixtures if they are dated. Head on down to to your local Home Depot or Lowes and purchase a few stock light fixtures for an affordable price. Just think of the saying, “out with the old, in with the new.” Lastly, if you aren’t familiar with electrical, hire an electrician. Do not risk electrocuting yourself, please and thank you!

5. Flooring. Listen carefully, if you have flooring or carpets that are more than 15 years old, stained from pets and/or children or matted down due to high traffic, we are here to tell you, buyers will always pay less for your home. But, for short money, you can have that carpet replaced, and you should! Now, don’t go replacing it with a high end carpet or hardwood floors, unless your agent has a very good reason for swaying your decision making process. If you just can’t afford it, hire a professional carpet cleaner to get those floors looking passable to the naked eye. Next, if you have old tile floors with dirty grout, have them professionally cleaned. If you have hardwoods that are not completely worn out, try and polish them. If that doesn’t work, have them re-finished, if and only if there is room in your budget. 

Now that you have your essential list of “to-do’s,” you can hopefully set your focus to the task at hand. Just remember, curb appeal matters! Fresh paint matters! A clean home can make a world of difference! Old light fixtures can illuminate negative thoughts and flooring can make or break an offer price.  Buyers will always call upon their five senses when looking at your home online and viewing your home in person. Implementing these five low cost improvements will leave a positive impression on potential buyers while ultimately adding to your home’s value and maximizing your ROI. 

*These are suggestions based off of our professional experience in the real estate field. It will always be in your best interest to talk to an agent and get an opinion of value before making any major decisions regarding improvements and/or renovations. Our CHR agents are just a phone call, text or email away from your next big move. We look forward to hearing from you. CONTACT CHR