It's no secret: spring is in the air and as the azaleas begin to show their faces, house hunters are popping out of the woodwork too. Traditionally, spring is the best time to put your house on the market. According to The Huffington Post, homes sold during the first half of May were purchased at about one percent more than the average listing and sold 18.5 days more quickly. So, if you're thinking about upgrading to a bigger and better custom home, now is the time to get going on flipping your current property for the highest return on your renovations.
Need a little help figuring out what renovations will help sell your property for a maximum price with a minimal budget? Follow these steps:
Curb appeal. We tell our kids not to judge a book by its cover but let's be real. If a potential home buyer sees a damaged, dirty, or shabby home exterior from the street or online, chances are they will never step a foot in the door to give it a chance. According to the National Association of Realtors (or NARI), homeowners who replace vinyl siding will receive about 83 percent back of what they spend. If you have a brick exterior, consider painting the brick so that the home stands out and holds new aesthetic character. If your home's exterior isn't too outdated or weathered, just be sure to give it a good pressure wash to improve its curb appeal.
What's cooking, good looking? Minor kitchen and bathroom remodeling usually recoups at least 100 percent of your investment. There's no need to have a four course meal, here. Grandiose kitchen and bath remodels may make a buyer's eyes go gah-gah, but doing too much won't bring home the bacon. Stick with the basics. Replace any old formica and linoleum with stone. Refinish or paint cabinets. Replace only the outdated faucets and lighting fixtures.
With the grain. No need to go against the grain. Refinishing your hardwood floors is an important step in selling your home, and typically you'll get a full return on your investment when it comes down to the ground you walk on. Don't have hardwoods? Maybe it's a good idea to think about replacing any linoleum or other outdated flooring with something that does the selling for itself.
Up. Up. And away. Smart home buyers know to purchase a house with a new roof so that it's included in their mortgage, rather than an additional expense that they know they'll need to make at any point down the road. While a new roof can be a large expense (about $7,600 on the average home), NARI claims that there's about a 105 percent return on your investment.
Fresh coat. We saved the best (and by best we mean easiest) step for last. This one's a no-brainer. Painting the walls with a fresh coat of paint is one of the most inexpensive and necessary steps to selling your home. Make it look new for that potential home buyer and remember that lighter colors tend to make the rooms look larger than than something dark. When in doubt, go with a shade of white or beige which is appealing to most everyone.
Looking to remodel your home to sell (or just fix it up for yourself!), give us a call at 910.620.1835 today or fill out our brief renovations form and we'll be in touch soon.